Property Valuation
In South Carolina, what is a 'certified residential appraiser' versus a 'licensed residential appraiser'?
AThey have identical authority
BCertified residential appraisers can appraise more complex and higher-value residential properties; licensed residential appraisers have more limited scope✓ Correct
CCertified appraisers work only for banks; licensed appraisers work independently
DLicensed appraisers are senior to certified appraisers
Explanation
In South Carolina (and under federal classification), certified residential appraisers can appraise non-complex residential properties up to $400,000 and complex residential properties without limit. Licensed residential appraisers have more limited scope. Certified general appraisers can appraise all property types.
Related South Carolina Property Valuation Questions
- A South Carolina appraiser's final value estimate is expressed as a range because:
- In South Carolina, 'reproduction cost' differs from 'replacement cost' in that:
- A South Carolina property has a capitalization rate of 8.5% and a value of $750,000. What is the property's estimated NOI?
- Under South Carolina's ad valorem tax system, 'ad valorem' means:
- The principle of 'highest and best use' in real estate appraisal is defined as the use that is:
- Which of the following is an example of physical deterioration (curable) in a South Carolina property?
- A South Carolina appraiser who violates USPAP (Uniform Standards of Professional Appraisal Practice) may face:
- A South Carolina investor wants to know the value added by installing a swimming pool. This best relates to the appraisal principle of:
Practice More South Carolina Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free South Carolina Quiz →