1	1. Where would you find the ethical and conduct standards relevant to the appraisal of property?	new
2	2. Define 'Agent's role' and also in particular, to providing appraisals.	new
3	3. Which Act legislates real estate appraisals and penalties that could apply when these are breached?	new
4	4. Define the purpose of a property appraisal.	new
5	5. Give an example of when a property appraisal would not be sufficient.	new
6	6. List any five (5) of the things you would make note of at your preliminary inspection.	new
7	7. Where would you source information for the possible redevelopment or restrictions on properties you are appraising?	new
8	8. List three (3) sources you can use / access to compare properties.	new
9	9. Name two (2) sources to confirm property ownership.	new
10	10. What is "material fact"?	new
11	11. List three (3) most common methods of appraising properties.	new
12	12. How would you calculate a "like for like" method of appraisal? Where would this likely occur?	new
13	13. Under legislation for what length of time must appraisal records be maintained by the office.	new
14	14. Which legislation protects this information and to whom can these records be shown?	new
15	15. What are the three (3) main methods of presenting an appraisal based on individual client personalities?	new
16	16. How can you achieve the most truthful feedback from appraisal clients to improve your performance?	new
17	17. Describe two (2) ways to improve on poor results.	new
18	18. Give two (2) examples of an outside specialist and what role do they play?	new
19	19. What are fiduciary responsibilities?	new
20	20. What are factors that can affect the price of a property?	new
21	21.When listing a property using a specified range, the difference between the higher figure and the lower figure cannot be anymore than ......% of the lower figure.	new
22	22. You are on the telephone to a vendor who has requested an appraisal. What questions would you ask this person prior to attending their property including their expectations?	new
23	23. You have attended a market appraisal but back at the office you can find very little past sales to compare to this unusual property. What do you do and why?	new
24	24. When researching a property you are appraising having taken into account current market indicators, you find on RP Data the current owners purchased at the height of the market and you now estimate it at 20 - 25% less than they paid. Now, when presenting your market appraisal and opinion of price they are very disappointed and angry at your estimate. What do you do and explain why? Also, how long must we keep this appraisal on file?	new
25	25. On arriving at your appraisal appointment, you find only one of the vendors at home, you are yet to meet or speak with the absent vendor. He explains his wife is overseas for work on short notice however, they are keen to get the property on the market asap. Explain what you would do and the risks and ramifications involved, including any documents you need to source.	new
26	26. The agency should, as best practice provide a survey to all clients both those that have listed and those that have not. Analyse the below negative feedback, identify the issues within each and provide possible solutions to each one. Bear in mind legislative and industry standards and ethics, provide ways in which this can be used constructively to inform / improve future presentations. Survey response: 'NO EYE CONTACT - I FELT THE AGENT WASN'T TRUSTWORTHY OR JUST NOT INTERESTED' 'ARRIVED LATE, SEEMED TO BE IN A HURRY TO LEAVE AND DIDN'T ALLOW SUFFICIENT TIME TO ANSWER OUR QUESTIONS'	new