Property Valuation
What is the standard appraisal form used for a single-family residential property in a federally related mortgage transaction?
ABroker Price Opinion (BPO)
BUniform Residential Appraisal Report (URAR / Fannie Mae Form 1004)✓ Correct
CCompetitive Market Analysis (CMA)
DExterior-Only Inspection Residential Appraisal Report (Form 2055)
Explanation
The Uniform Residential Appraisal Report (URAR), Fannie Mae Form 1004, is the standard form for single-family residential appraisals in federally related mortgage transactions. It requires interior inspection and full analysis.
Related California Property Valuation Questions
- The principle of 'regression' in real estate states that:
- What is 'highest and best use' in real estate?
- What is the 'principle of substitution' and why is it important in appraisal?
- The income approach to value is most appropriate for:
- The 'effective age' of a building used in appraisal is best defined as:
- The 'highest and best use' of a property is defined as the use that meets all four of which criteria?
- External obsolescence (economic obsolescence) differs from other depreciation types because it is:
- What is the 'principle of contribution' in real estate?
Practice More California Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free California Quiz →