Property Valuation
Under FIRREA (Financial Institutions Reform, Recovery and Enforcement Act), licensed appraisers in Florida who perform federally related transactions must be:
AMembers of the Appraisal Institute
BState-licensed or state-certified by the Florida Real Estate Appraisal Board (FREAB)✓ Correct
CLicensed by FREC under Chapter 475 F.S.
DEmployees of government agencies only
Explanation
FIRREA requires that appraisers performing appraisals for federally related transactions be state-licensed or state-certified. In Florida, appraisers are regulated by the Florida Real Estate Appraisal Board (FREAB) under the DBPR.
Related Florida Property Valuation Questions
- The principle of 'substitution' in real estate appraisal states that:
- When an appraiser reconciles the three approaches to value, they assign weight to each approach based on:
- Regression and progression are appraisal principles related to:
- A Florida property's assessed value is $280,000. The homestead exemption is $50,000. The school board millage is 6 mills and the county millage is 10 mills. What is the total annual property tax?
- A Florida appraiser is asked to provide a 'retrospective appraisal' of a property as of a date in the past. The appraiser should:
- A Florida commercial property has a potential gross income of $300,000. If the market suggests a 6% vacancy rate, what is the effective gross income?
- What does a 'CMA' (Comparative Market Analysis) produced by a Florida real estate agent represent?
- If a Florida appraiser notes that a property is in a neighborhood experiencing 'increasing' market conditions, this affects the sales comparison approach by:
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