Real Estate Appraisal

Question 1

Real Estate Appraiser

Answer 1

anyone who engages in the real estate appraisal business; must have the appropriate license

Question 2

Engaging in the real estate appraisal business

Answer 2

the act or process of estimating the value of real estate for a fee or other valuable consideration

Question 3

Certified General Appraiser

Answer 3

allowed to appraise all types of real estate

Question 4

Certified Residential Appraiser

Answer 4

allowed to appraise residential real estate

Question 5

Provisional Licensed Appraiser

Answer 5

allows entry level appraisers to develop the appraisal experience needed to qualify for a category of certified or licensed appraiser

Question 6

Supervising Appraiser

Answer 6

supervises provisional licensed appraisers, can only sponsor up to three provisional appraisers unless they apply for a waiver

Question 7

Appraisal Review

Answer 7

the act or process of developing and communicating an opinion about the quality of another appriaser’s work

Question 8

Appraisal Management Companies

Answer 8

must register with the CT Dept of Consumer Protections, required to annually certify and maintain detailed records