CRPA Stakeholder Roles & Service Delivery 3

Question 1

Which of the following best describes the 'buyer value offer' (BVO) program in corporate relocation?

Accepted Answer

The employer guarantees to buy the home only after an outside buyer makes an offer, then substitutes as buyer

Answer

In a BVO program, the employer steps in as the buyer only after an outside buyer has made an offer, avoiding the employer holding inventory.

Question 2

When two independent relocation appraisals differ by more than the policy threshold, what mechanism is typically employed?

Accepted Answer

A third appraisal is ordered and a reconciled or averaged value is determined

Answer

Most ERC-aligned programs call for a third appraisal when two appraisals diverge beyond a set threshold, with reconciliation per policy.

Question 3

What is the primary reason relocation appraisers use only arm's-length sales as comparable transactions?

Accepted Answer

Non-arm's-length sales may not reflect true market value due to atypical motivations

Answer

Non-arm's-length sales involve motivations (foreclosure, family transfers) that distort market value and are excluded to ensure accuracy.

Question 4

Which stakeholder is responsible for coordinating the physical inspection of the transferee's property during a relocation appraisal?

Accepted Answer

The RMC, which schedules access with the transferee

Answer

The RMC typically schedules and coordinates property access between the appraiser and transferee to ensure smooth service delivery.

Question 5

A relocation appraiser discovers the subject property has an underground oil tank that was not disclosed. What is the appropriate action?

Accepted Answer

Note the presence of the tank, invoke an extraordinary assumption about its impact, and recommend environmental remediation assessment

Answer

Appraisers must note observed adverse conditions, use extraordinary assumptions where appropriate, and recommend expert follow-up.

(CRPA) Certified Relocation Professional Appraiser Practice Test