New Jersey Real Estate Practice 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 credentials to provide an objective and supportable opinion of market value, which is essential for federally-related loans. This expertise ensures compliance with regulatory standards.
A licensed real estate broker, while knowledgeable about the market, may not have the specific qualifications required to appraise property values for financing purposes. Similarly, any real estate licensee may lack the specialized training needed to deliver an accurate appraisal, making their opinions less reliable. A Certified Public Accountant focuses on financial matters rather than property valuation, thus not qualified to assess market value in this context.
Unlock All Questions
Subscribe to Premium for full access to all practice questions, detailed rationales, and performance tracking.
Subscribe Now