1. Reconciliation occurs when

	A.	A landlord has a complaint with a renter and they settle their differences outside of court.
	B.	A bank has multiple appraisals and it chooses the best one
	C.	A lender has multiple valuations done and it averages them all to come to a value
	D.	An appraiser uses several different valuation approaches and arbitrarily assigns a weight to each of them to come up with a value.

2. Which of the following statements is true about obsolescence?

	A.	External obsolescence occur due to the exterior walls of the building deteriorating over time
	B.	Functional obsolescence occurs when a building is not up to date with current technology
	C.	Physical obsolescence occurs when a buildings fittings are out of style
	D.	A building owner has more control over external obsolescence than functional obsolescence

3. Which of the following statements is true about obsolescence?

	A.	External obsolescence occur due to the exterior walls of the building deteriorating over time
	B.	Functional obsolescence occurs when a building is not up to date with current technology
	C.	Physical obsolescence occurs when a buildings fittings are out of style
	D.	A building owner has more control over external obsolescence than functional obsolescence

4. Which of the following statements about lender title insurance is correct?

	A.	Banks pay for it because they benefit from it
	B.	All easements show up in a title search
	C.	It is require by the lender to obtain a mortgage
	D.	It is limited to 3 past transactions