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How to Interpret an Appraisal Report

Instructions:

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

question 1 of 3

Which of the follow valuation methods is not used in the appraisal report?

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1. If the subject property has four bedrooms and the second comparable property has three bedrooms, which of the following adjustments will be made to the sales price of the second comparable property?

2. The appraiser's opinion of value will always match the sale price agreed to by buyer and seller.

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About This Quiz & Worksheet

Going through this quiz and worksheet lets you figure out how much you comprehend about appraisal reports and their format.

Quiz & Worksheet Goals

Using these materials helps you check your knowledge of these topics:

  • What the appraiser will make comments about when analyzing a neighborhood
  • Parts of the description about improvements made to the property
  • Valuation methods used in the appraisal report
  • Adjusting the sales price of a property

Skills Practiced

  • Reading comprehension - ensure that you draw the most important information from the business lesson
  • Information recall - access the knowledge you have gained regarding the components of a description that explains what improvements were made to a property
  • Knowledge application - use your knowledge to identify the valuation methods used in an appraisal report

Additional Learning

If you would like to gain more knowledge about these reports, use the lesson titled How to Interpret an Appraisal Report. This lesson is designed to help you cover these additional topics:

  • The purpose of an appraisal report
  • Information included on these reports
  • What comparable sales means
  • Using the income approach
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