Quiz for B2B: Appraisals Overview
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Question 1 of 10
1. Question
- What is the appraisal threshold for residential real-estate transactions?
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Question 2 of 10
2. Question
2. When do Reg. B disclosures need to be given?
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Question 3 of 10
3. Question
3. True or false, an appraisal is always required?
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Question 4 of 10
4. Question
4. What is the appraisal threshold for commercial real-estate transactions?
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Question 5 of 10
5. Question
5. Which of the following is not an exception to the appraisal rule.
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Question 6 of 10
6. Question
6. True or False. Under Regulation B, the valuation rules apply to second liens on a dwelling.
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Question 7 of 10
7. Question
7. True or False. For HPMLs you must provide a copy of all valuations and appraisals to the borrower, if requested for a fee.
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Question 8 of 10
8. Question
8. Which of the following is not a mischaracterization of value?
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Question 9 of 10
9. Question
9. True or False. Valuation independence under TRID covers consumer credit transactions secured by the consumer’s principal dwelling.
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Question 10 of 10
10. Question
10. True or false. There state licensed appraisers are required for all transactions of $1,000,000 or more.