Property Valuation
An appraisal conducted for a federally related transaction must be performed by a:
ALicensed real estate salesperson
BState-licensed or state-certified appraiser✓ Correct
CGREC-approved appraiser
DCertified Public Accountant
Explanation
Federally related transactions (involving federally regulated lenders) require appraisals by state-licensed or state-certified appraisers, as required by FIRREA (Financial Institutions Reform, Recovery, and Enforcement Act of 1989).
Related Georgia Property Valuation Questions
- A plottage increment in real estate valuation refers to:
- Effective age of a building refers to:
- Which type of depreciation in the cost approach is considered incurable because it comes from outside the property?
- In a 'seller's market,' home values tend to:
- In the income approach, 'potential gross income' (PGI) represents:
- In the income approach, 'effective gross income' is calculated as:
- The 'cost to cure' method of depreciation estimates functional obsolescence by calculating:
- An appraiser uses a 'bracketing' technique in the sales comparison approach by:
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