CA Real Estate Principles Course » 2021 » Section 12 Unit 5 Exam

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Question #1
Which category of appraiser can appraise any residential property without any limitations related to value or complexity, but only non-residential properties valued below $250,000?
A.   Certified general appraiser
B.   Certified residential appraiser
C.   Trainee license
D.   Residential license
Question #2
Which of the following actions toward an appraiser would be considered proper?
A.   Withholding payment for a completed appraisal report
B.   Making payment of an appraisal report conditional on the value or estimate to be reached
C.   Asking an appraiser to correct errors in the appraisal report
D.   Threatening to no longer do business with an appraiser
Question #3
What does the Financial Institutions Reform, Recovery, and Enforcement Act require?
A.   Federally related transactions need not be appraised.
B.   Federally related appraisals must be conducted by an appraiser who's either licensed or certified by the state.
C.   Real estate licensees who perform appraisals must have a federal security clearance.
D.   Non-federally related transactions must be appraised by government employees.
Question #4
Which type of appraisal report is lengthy and often used for complex properties?
A.   Narrative report
B.   Restrictive report
C.   Letter report
D.   Form report

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