Property ValuationIntermediateNorth Carolina Exam

An NC appraiser's opinion of value must be 'credible' according to USPAP. Credible means the value conclusion is:

AThe same as the listing price
BSupported by sufficient market data, analysis, and reasoningCorrect
CHigher than the county assessment, under typical circumstances
DIdentical to a prior appraisal

Why Supported by sufficient market data, analysis, and reasoning Is Correct

Answer B: Supported by sufficient market data, analysis, and reasoning

Under USPAP, credibility requires that the appraisal process, data, and reasoning are sufficiently rigorous and appropriate for the intended use — not that the value must reach any particular number.

Exam Tip: Property Valuation

Valuation questions focus on the three approaches to value: sales comparison, cost, and income. Know which approach is best for which property type. The income approach uses cap rate and NOI — memorize these formulas.

Key Property Valuation Terms in This Question

People Also Study

Practice More North Carolina Real Estate Questions

1,400+ questions covering all exam topics. Start free — no signup required.

Take the Free North Carolina Quiz →