California Real Estate Exam

California Real Estate Exam: Questions & Answers Latest Update 100% Verified
Question 1: An appraiser's definition of "Value" would be:
a. present worth of all rights to future benefits arising out of
ownership.
b. the ability of one commodity to command other commodities
in exchange.
c. relationship between the thing desired and the potential
purchaser.
d. all of the above.
CORRECT ANSWER: d. all of the above.
Question 2: Which of the following abbreviations is associated
with the FHA?
a. NAR
b. CPM
c. MIP/MMI
d. MBA
CORRECT ANSWER: c. MIP/MMI

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