Property Valuation
Oklahoma appraisers must be licensed or certified under:
AOREC's appraisal division
BThe Oklahoma Real Estate Appraiser Board (REAB), with requirements set by federal law (FIRREA) and state statute✓ Correct
CThe Oklahoma Banking Department only
DNo state licensing is required for appraisers
Explanation
Oklahoma appraisers performing appraisals for federally related transactions must be licensed or certified by the Oklahoma Real Estate Appraiser Board (REAB). FIRREA established federal requirements implemented through state appraiser licensing boards.
Related Oklahoma Property Valuation Questions
- An appraisal report prepared for federally related transactions in Oklahoma must be completed by:
- A Comparative Market Analysis (CMA) performed by an Oklahoma real estate agent differs from a formal appraisal in that:
- When using the sales comparison approach, an appraiser finds a comparable that sold for $300,000. The comparable has a 2-car garage worth $10,000 but the subject property does not. The appraiser should:
- A recently sold comparable property is 200 square feet larger than the subject property. If the market indicates a value of $75 per square foot, what adjustment should the appraiser make to the comparable?
- Reproduction cost in the cost approach is:
- Effective age in real estate appraisal refers to:
- USPAP (Uniform Standards of Professional Appraisal Practice) requires Oklahoma appraisers to:
- Gross income multiplier (GIM) analysis differs from GRM analysis in that:
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