In the Question Set entitled "Residential Sales and Income Approaches, Final Exam #1.

 

Question #23 reads:

 

When using the sales comparison approach in an assignment complying with Fannie Mae guidelines and regulations, prior sales of the comparable properties must be reported for what period of time prior to the effective date of the appraisal?

 

a.  6 months

b.  12 months

c.  24 months

d.  36 months

 

There is no correct answer provided for this question.  This error is no big deal since questions regarding FNMA's policies are not on the exam.

 

The correct answer is "12 month prior to the closing date of the comparable sale" NOT 12 months prior to the effective date of the appraisal.

 

Modified:  9/7/2009

Page url: http://www.georgiaappraiser.com/everythingappraisal/?fnma_comparable_sales.htm