Appraisal Exam I Keyword List

1.                    "as of" date of an appraisal

2.                    access

3.                    Appraisal Foundation

4.                    Appraisal Institute

5.                    assessed value

6.                    assessment

7.                    balloon

8.                    book value

9.                    characteristic of housing markets

10.                 conditions of sale adjustment

11.                 Consistent use

12.                 Cost Depreciation Approach

13.                 Data requirements for an appraisal assignment

14.                 Deed restriction

15.                 demand/supply equilibrium

16.                 Easement by necessity

17.                 Easement in gross

18.                 Encroachment

19.                 excess land

20.                 export (or base) industry

21.                 externalities

22.                 Federal Land Appraisal Board

23.                 Fenestration

24.                 Financial Institutions Reform, Recovery, and Enforcement Act

25.                 FIRREA

26.                 fixtures

27.                 form report

28.                 functional interior design

29.                 functional utility

30.                 going-concern value

31.                 highest and best use

32.                 Highest and best use

33.                 identification of property appraised

34.                 Income-capitalization Approach

35.                 ingress

36.                 insulation

37.                 insurable value

38.                 intangible items

39.                 Investment value

40.                 kitchen work triangle

41.                 legally permissible

42.                 letter report

43.                 linkages

44.                 liquidation value

45.                 location quotient

46.                 market value

47.                 Market area analysis

48.                 marketability

49.                 measurement of property size

50.                 narrative report

51.                 neighborhood life cycle

52.                 Office of Thrift Supervision

53.                 Opportunity costs

54.                 oral report

55.                 Percolation

56.                 personal property

57.                 platform

58.                 plottage

59.                 point estimate

60.                 post and beam

61.                 principle of balance

62.                 principle of substitution

63.                 professional appraisal societies

64.                 R_value

65.                 reconciliation

66.                 replacement value

67.                 Sales Comparison Approach

68.                 septic system

69.                 service industry

70.                 site improvement

71.                 supply and demand

72.                 supply of real estate

73.                 Surplus productivity

74.                 tax shelter

75.                 trends in area and neighborhood analysis

76.                 types of wiring

77.                 USPAP--deviation from standards

78.                 USPAP--required report content

79.            value_in_exchange

80.            value_in_use