Virginia Real Estate Exam Practice Question
Who typically prepares a CMA or BPO?
Correct Answer: D
Rationale: A CMA (Comparative Market Analysis) or BPO (Broker Price Opinion) is primarily prepared by a real estate licensee, who has the expertise to analyze market trends and property values.
Option A, the appraiser, typically conducts formal appraisals rather than CMAs or BPOs, which are less formal and more market-driven. Option B, the inspector, focuses on assessing the condition of a property, not its market value. Option C, the loan servicer, manages loan accounts and does not engage in property valuation activities. Thus, the role of a real estate licensee is essential for accurately preparing CMAs and BPOs, making them the most qualified professionals for this task.
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