Property Valuation
An appraisal is an estimate of a property's:
ATax assessment
BMarket value as of a specific date✓ Correct
CListing price recommended by an agent
DInsurance replacement cost
Explanation
An appraisal is a professional opinion of market value as of a specific effective date, based on analysis of market data, property characteristics, and recognized appraisal methods.
Related Kentucky Property Valuation Questions
- Which appraisal approach is most commonly used for single-family residential homes?
- The gross rent multiplier (GRM) for a Kentucky residential rental property is calculated as:
- When a Kentucky appraiser completes a desk review of another appraiser's report, they are:
- A Kentucky appraiser uses comparable sales from 8 months ago. In a rising market, the appraiser should:
- The gross income multiplier (GIM) used in commercial property valuation is calculated as:
- The principle of contribution states that:
- An appraiser in Louisville is asked to determine the 'as-improved' value after a proposed renovation. This is called a:
- An appraiser in Kentucky assigns more weight to one approach over the others in a report. This is:
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