New Jersey Real Estate Practice Exam Free Practice Question
Which of the following analyses must be prepared by a certified appraiser?
Correct Answer: D
Rationale: A property valuation report supporting a federally-related loan application requires a certified appraiser due to regulatory standards that ensure accuracy and compliance. This type of valuation must adhere to strict guidelines to protect both lenders and borrowers.
Option A, a competitive market analysis, can be conducted by real estate agents and does not necessitate certification. Option B, a price opinion for a lender in a short sale, may be provided by non-certified professionals as it does not involve formal appraisals. Option C, analyzing a project's market capture and capitalization rate, typically falls within the realm of market research and financial analysis, which does not require certification.
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