An Appraisal Is a Typical but Not Required Part of the Mortgage

question 152

True/False

An appraisal is a typical but not required part of the mortgage approval process.

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Definitions:

After Conception

The period of time following the moment of conception, referring to the development of the embryo and fetus during pregnancy.

False Positive

The result of a laboratory test that reports something as true when in fact it is not true. This can occur for pregnancy tests, when a woman might not be pregnant even though the test says she is, or during pregnancy, when a problem is reported that actually does not exist.

Laboratory Test

An examination of materials, organisms, or physical reactions conducted under controlled conditions to gather data or insights.

Prenatal Development

The process of growth and development within the womb, from conception to birth.