Valuation CPV 2025

A modern office space with valuation documents, imagery of property types, and a person reviewing property data. Bright and professional design.

Valuation CPV 2025 Quiz

Test your knowledge on property valuation and mortgage processes with our engaging quiz! Whether you're a professional in the real estate industry or just looking to learn more, this quiz covers fundamental concepts that are essential for understanding property valuations.

Key topics include:

Mortgage valuation requirements
Property types and classifications
Valuation approaches and definitions

15 Questions4 MinutesCreated by EvaluatingEagle785

How many photos for mortgage valuations?

RVP can undertake valuations over $2 mil?

True

False

The land size is 20 ha or less.

In scope for a short form

Out of scope for short form

Which VRA is this: Are the existing improvements on the property incomplete, under construction or requiring essential repairs?

What is the most important information on a title?

Date

Volume & folio

Proprietors

Encumbrances

How many PRP offices are there throughout Australia and New Zealand?

What is the most common Valuation Approach for Commercial properties?

Direct Comparison

Summation

Capitalisation of net income

Calculated Guesstimate

What is the definition of ‘Fair Market Value’?

The calculated amount that someone may purchase a property for after being pressured into the sale, considering the location, demographics and size/condition of any improvements on the property.

The estimated amount for which an asset should exchange on the date of valuation between a willing buyer and a willing seller in an arm’s length transaction, after proper marketing, wherein the parties had each acted knowledgeably, prudently and without compulsion.

The estimated amount for which the property could be purchased for on the date of valuation between a willing buyer and a desperate seller in a transaction that is not considered to be ‘arms-length’, after no marketing.

The purchase price of a property is always considered to be “Fair Market Value” even if the parties to the sale are related. This is because both parties were willing to settle on the agreed price and it is therefore considered fair.

Is a Location risk triggered if the property is in a Bushfire Prone Area?

No – Fire is not a risk.

Yes – Fire is a risk to the location.

No – Should be an environmental risk.

No idea

How many hectares is 28,000m2?

280

2.8

1.4

What is the definition of ‘Highest and Best Use’?

The most probable use of a property, no matter the local planning laws and costs of development.

The use of an asset that maximises its potential and that is physically possible, legally permissible, and financially feasible.

The current use of a property is always considered to be the highest and best use.

The use of a property that maximises its potential and that is legally permissible, and financially feasible, and whether the development would be physically possible does not matter.

Which of these basic property descriptions would be most suitable for the subject property in a Valuation report?

The subject property comprises a single storey, 4-bedroom, 2-bathroom, brick veneer, concrete tiled roof, fully detached dwelling with a double garage under the main roof. It doesn’t look great from the street.

The property next door comprises a double storey, 4-bedroom, 2-bathroom, brick veneer, concrete tiled roof, fully detached dwelling with a double garage under the main roof. The property has good appeal from the street.

The subject property comprises a single level, 4-bedroom, 2-bathroom, brick veneer, concrete tiled roof, fully detached dwelling with a double garage under the main roof. The property has good appeal from the street.

The subject property comprises a double storey, 4-bedroom, 2-bathroom, brick veneer, concrete tiled roof, fully detached dwelling with a double garage under the main roof. The neighbours were loud during the time of inspection.

Is a property comprising of 3 or more dwellings on one title suitable for a Short-Form Report?

True

False

Is a single dwelling situated within an ‘Over 55’s’ development suitable for a Short-Form Report?

False

True

Have you ever had a strange/funny experience on an inspection or whilst at work?

Yes

Valuation CPV 2025

Valuation CPV 2025 Quiz

More Quizzes