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MCKISSOCK BASIC APPRAISAL PRINCIPLES
FINAL NEWEST 2025 ACTUAL EXAM
COMPLETE 400 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS)
|ALREADY GRADED A+||BRAND NEW
VERSION!!
What is a deed restriction?
ANSWER: A private restriction on property rights.
What is a district?
ANSWER: A neighborhood characterized by homogeneous land
use, e.g., apartment, commercial, industrial, agricultural.
What are points paid for closing?
ANSWER: $2,772 paid for 1.75 points on a mortgage.
What is the mean?
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ANSWER: Add up all the numbers in the sample or population
and then divide it by the amount of numbers in the sample.
What is NOAA?
ANSWER: National Oceanic & Atmospheric Administration,
charged with monitoring coastal habitats.
What are closing costs?
ANSWER: $24,572.75 needed to cover down payment and loan
points for a house valued at $216,500.
What are elements of value?
ANSWER: Desire, scarcity, utility, effective purchasing power.
What is appraiser trainee experience?
ANSWER: 0 creditable hours of experience required under
current AQB qualification criteria.
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What is market analysis?
ANSWER: Examines a type of property.
What is marketability analysis?
ANSWER: Examines a specific property.
What is the Appraisal Subcommittee?
ANSWER: Entity responsible for monitoring state appraiser
licensing and certification agencies.
What is price per acre?
ANSWER: $62,500 for a rectangular property sold for
$263,750.
What is a dominant tenement?
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ANSWER: Mary Jones has the dominant tenement with access
rights across her neighbor's property.
What is police power?
ANSWER: Includes building codes, zoning, and environmental
regulations.
What is 3.15% equivalent to?
ANSWER: 0.0315.
What is the first step in highest and best use analysis?
ANSWER: The first step is to research the uses that are legally
permissible.
What are appraisal education hours?