What is an assessment?

An appraisal is a professional estimate of a property's value. The item to be valued could be a small individual piece, such as jewelry or art, or something larger, such as a home or business. In many cases, this estimate is needed before a work of art, jewelry, or even a house can be insured. Before a mortgage or home loan can be approved, it will also need to be evaluated. This is important to ensure that the value of the insurance or loan is equal to the value of the property.

There are several areas where an assessment can be made:

Personal property: This includes items such as jewelry, fine china, artwork, ceramics, antiques and other heirlooms.

Property: It consists of evaluating the value of real estate.

Bulk feedback: combines the valuation of personal and immovable property.

Business rating: This type of valuation assesses the value of a company, including equipment, services, logos and goodwill, both tangible and intangible assets.

To become an appraiser, a person must be a good communicator and possess excellent analytical skills. It wouldn't hurt to be good with numbers either. To make an assessment, the individual must first study a little. In the United States, the Appraisal Foundation Appraiser Qualifications Board has certain qualifications that must be met in order for someone to give their first estimate of value. The person will need to take several hours of classes in a chosen testing field and may also need to pass an exam.

A university degree is not required to take an assessment, but people who wish to receive their training through professional organizations may find it necessary. At the end of the training period, the student may receive an "evaluator designation", which basically means that he/she has completed a certain course or program.

Many evaluators find it good to be part of a professional organization. In addition to the initial training they may receive, the group will also help people gain hands-on experience by setting up or allowing them to carry out assessments. Once a person gains some experience, the possibilities are endless. He or she might work for an insurance company, a museum, a jewelry chain, a bank, a law firm, or even the government.

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