New Jersey Real Estate 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 is specifically trained and authorized to provide objective and supportable opinions of market value, ensuring compliance with federal regulations for real estate transactions. This expertise is crucial for federally related loans.
A licensed real estate broker (Option B) can offer market insights but lacks the formal appraisal training required for official valuations.
Option C, any real estate licensee, is too broad; not all licensees possess the necessary qualifications to appraise property values accurately.
A Certified Public Accountant (Option D) may have financial expertise but does not typically have the specialized training in real estate valuation required for appraisals.
Unlock All Questions
Subscribe to Premium for full access to all practice questions, detailed rationales, and performance tracking.
Subscribe Now