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Module 1 Quiz: Why Become an Appraisal Examiner
You'll need to correctly answer at least 17 of the 20 questions below (at least 85%) to progress to the next unit.
Question #1: Personal property inventory appraisal services are very similar to home inventory services when considering the processes of collecting and recording the information.
Question #2: One similarity of these two industries is the cost of the service.
Question #3: The benefit of being an appraisal examiner is that your normal inventory documentation most likely includes the same or similar information required for an appraisal.
Question #4: When donating non-cash items to a charitable organization, there is no need for an appraisal. An inventory of the item(s) is sufficient for the IRS.
Question #5: An appraiser can certify the value of kitchen cabinets, counter tops, appliances, and bathroom fixtures.
Question #6: When people inherit an antique, they often wonder about its worth, especially if they are thinking of selling it. An appraisal will provide them with the information they need to make a decision.
Question #7: During a divorce, it is not necessary to determine the value of the items since they were purchased while the couple was married.
Question #8: Being an appraisal examiner will give you the opportunity to document items that need to be appraised for an executor.
Question #9: After a loss, a homeowner and the insurance adjusters might disagree as to the value or the amount of the insurance claim. An appraisal will help if the policyholder doesn't believe the amount offered is sufficient.
Question #10: There is only one reason a business owner would need an appraisal, and that is when they want to ensure they are properly insured.
Question #11: The appraisal and asset inventory professionals rarely if at all collect the same information.
Question #12: Though it is nice to offer this extra service, the income potential for being an examiner is not very high.
Question #13: Adding "Appraisal Examiner" to your list of services is a value-added service for your clients.
Question #14: When conducting a home inventory, plus serving as an appraisal examiner for a few items, you will be serving two different purposes. Thus, you will need to visit the client's house twice, collecting the inventory and the appraisal information on separate appointments.
Question #15: Understanding the needs of the client helps you know whether to promote an inventory, an appraisal, or a combination of the two.
Question #16: When networking, mention that you are an Appraisal Examiner in addition to a home inventory professional. This will increase your opportunity to grow an additional income stream.
Question #17: Adding the keyword "appraisal" to your website will not help with your SEO efforts.
Question #18: Offering appraisal examiner services provides an extra income stream for yourself, but requires an extensive amount of time and marketing dollars to promote it.
Question #19: An appraisal could be the most reasonable alternative to a lawsuit after a loss, because it can resolve a dispute over “repair” versus “replacement.”
Question #20: An advantage to adding appraiser examiner services to your home inventory business is that the client has just one vendor to work with, and needs to schedule only one appointment.
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