Property Valuation
In Arizona, an appraisal ordered for federally related transactions must be performed by:
AAny licensed real estate agent with valuation training
BA state-licensed or state-certified appraiser✓ Correct
CAn Arizona-registered property assessor
DA broker with at least 5 years of appraisal experience
Explanation
Federally related transactions (involving federally regulated lenders) require appraisals to be performed by a state-licensed or state-certified appraiser in compliance with FIRREA and USPAP standards.
Related Arizona Property Valuation Questions
- An Arizona income property generates gross rents of $90,000 per year. Vacancy and credit losses are 5%, and operating expenses are $35,000. What is the Net Operating Income (NOI)?
- In Arizona, the income approach to value is LEAST applicable for:
- In the cost approach, what does 'reproduction cost' mean?
- The reconciliation step in an appraisal involves:
- A 'reconciliation' in a final appraisal report involves the appraiser:
- Economic life of a building in the cost approach refers to:
- When appraising a duplex, the most appropriate approach would typically be:
- Excess land in appraisal refers to:
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