Certificate of Reasonable Value: Definition & Purpose

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Fair market value means:

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1. The Certificate of Reasonable Value is done to determine:

2. What factors does an appraiser look at to establish comps in an area?

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About This Quiz & Worksheet

Discover your level of knowledge about the Certificate of Reasonable Value. Covering related definitions, the certificate purpose, and other relevant factors, this assessment can help you decide whether additional study is necessary.

Quiz & Worksheet Goals

Utilize your knowledge of these topics:

  • How selling and appraisal value affect approval of the Certificate of Reasonable Value
  • Factors an appraiser uses to establish comps in an area
  • The definition of fair market value
  • Hazard type(s) an inspector might look for when appraising a house
  • Purpose of the Certificate of Reasonable Value

Skills Practiced

Try using this resource now, you can practice these skills:

  • Defining key concepts - ensure that you can accurately define the main phrase fair market value
  • Making connections - use understanding of the concept of the Certificate of Reasonable Value and appraisal and selling value
  • Interpreting information - verify that you can read information regarding factors to establish comps

Additional Learning

Certificate of Reasonable Value: Definition & Purpose, as the partner lesson, can be used to review this topic further. You can learn more about the following areas:

  • An example of someone who may request a Certificate of Reasonable Value
  • When the Certificate of Reasonable Value can be issued
  • The definition of comps
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