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Valuation AppraisalCma_and_bpoEASY

In a Tampa transaction, a buyer wants the Florida rule on CMA versus BPO versus appraisal. Which statement is correct?

Correct Answer

D) The intended user and purpose of a CMA or BPO matter when explaining what the product can and cannot do.

The intended user and purpose of a CMA or BPO matter when explaining what the product can and cannot do. This follows Pearson VUE Florida Sales Associate CIB – Valuation topics; current Florida brokerage valuation practice.

Answer Options
A
A CMA and a state-certified appraisal are interchangeable labels in Florida.
B
Because a CMA is informal, the licensee's intended user and purpose never matter.
C
A broker may call a BPO an appraisal as long as no one objects.
D
The intended user and purpose of a CMA or BPO matter when explaining what the product can and cannot do.

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Related Topics & Key Terms

Key Terms:

floridastate_portioncma_and_bpovaluation_appraisal
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