Property Valuation
A licensee in Alaska performing a comparative market analysis (CMA) is:
APerforming a licensed appraisal
BProviding an estimate of market value based on similar properties to help clients price or make offers✓ Correct
CRequired to hold an appraiser's license
DCreating a legally binding value opinion
Explanation
A CMA is a market analysis tool used by real estate licensees to help clients price listings or evaluate offers. It is not a formal appraisal and does not require an appraiser's license, but it is also not a substitute for a licensed appraisal.
Related Alaska Property Valuation Questions
- In the income approach, 'effective gross income' (EGI) is calculated as:
- Which principle of value explains why a home across from a noisy industrial facility will sell for less than an identical home in a quiet residential area?
- The 'land-to-value ratio' in an appraisal is significant because it:
- In Alaska, the 'principle of regression' states that a high-value property surrounded by lower-value properties will:
- In Alaska, a 'comparative market analysis' (CMA) prepared by a real estate agent differs from a formal appraisal because:
- In Alaska, which of the following properties would MOST likely receive the HIGHEST capitalization rate from an appraiser?
- Under the income approach, 'potential gross income' (PGI) is the total rental income the property would generate if:
- In Alaska, the 'capitalization rate' is affected primarily by:
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