On the legacy March 2005 Fannie Mae Form 1004, the reported total above-grade room count excludes which separately reported category?
Correct Answer
C) Bathrooms, which are counted separately
On the legacy Form 1004, bathrooms are reported separately rather than included in the total above-grade room count. Bedrooms are included in the room count and also identified as a subset. A blanket closet requirement or exclusion of all kitchen and dining rooms does not follow. This is the named reporting convention, not a universal USPAP form requirement.
Why This Is the Correct Answer
Option C is correct because on the legacy Form 1004 bathrooms are reported separately as full and half baths and are not included in the total above-grade room count. Bedrooms, by contrast, are part of the room total and also shown as a subset.
Why the Other Options Are Wrong
Option A: Any room without a closet
Option A is wrong because the room count does not exclude any room without a closet. A blanket closet requirement for counting rooms is not part of the form's room count convention.
Option B: Bedrooms beyond the second one in the dwelling
Option B is wrong because bedrooms beyond the second are not excluded from the total room count. All bedrooms are included in the total and also reported in the bedroom count.
Option D: The kitchen and dining areas
Option D is wrong because kitchen and dining areas are not excluded as a category from the room count. The separately reported category excluded from the total is bathrooms.
Baths stand apart
Bedrooms are counted twice, in the total and in their own box, while baths get only their own box and stay out of the total.
How to use: Use this to recall what is included in the total room count on the legacy Form 1004.
Exam Tip
On legacy Form 1004 room count questions, remember that bathrooms are excluded from the total room count and reported separately.
Common Mistakes to Avoid
- -Including bathrooms in the total room count
- -Leaving bedrooms out of the total room count
- -Excluding the kitchen from the total room count
Concept Deep Dive
Analysis
This question tests the room count convention on the legacy Form 1004. Bathrooms are reported in their own count and are excluded from the total above-grade room count, while bedrooms are included in the total and also listed separately.
Background Knowledge
Room counts on residential appraisal forms report total rooms, bedrooms and bathrooms above grade. Bathrooms are counted separately as full and half baths, while bedrooms are part of the total room count. These are form reporting conventions under the named Fannie Mae form, not universal USPAP requirements.
Real-World Application
An appraiser inspects a home with a living room, kitchen, dining room and three bedrooms above grade, plus two full baths. The appraiser reports a total of six rooms, three bedrooms and two full baths on the legacy form.
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