New Jersey Real Estate License Exam Practice Question
Who may give a supportable opinion of market value to be used in seeking a federally-related loan to finance a real estate transaction?
Correct Answer: A
Rationale: A certified appraiser possesses the necessary training and qualifications to provide an objective and supportable opinion of market value, which is essential for federally-related loans. This expertise ensures compliance with federal regulations and standards.
In contrast, a licensed real estate broker (B) may have market knowledge but lacks the specialized training required for appraisals. Option C, any real estate licensee, is too broad; not all licensees have the expertise to assess market value accurately. Lastly, a Certified Public Accountant (D) focuses on financial matters and does not specialize in real estate valuation, making them unqualified for this specific task.
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