USPAP/USPAP Exam With Complete Solutions.Which of the following establishes minimum criteria for real property appraisers' certification and licensing? - Answer D. Appraisers Qualification board The primary purpose of federal monitoring of state real estate appraisers' licensing and certifying agencies is to determine whether? - Answer D. Policies and procedures are consistent with Title XI of FIRREA Development of which of the following is NOT addressed by standards rule? - Answer
- Recommended list price
Which of the following best describes advisory opinions? - Answer D. They do not establish new standards or interpret existing standards but are issued to illustrate the applicability of appraisal standards in specific situations.USPAP defines an appraiser as one who? - Answer D. who is expected to perform valuation services competently and in a manner that is independent, impartial, and objective.Under USPAP, confidential information is information that is classified as confidential or private by law or regulation or information the appraiser? - Answer D. receives from the client and is identified by the client as confidential and is not available from any other source.The type and extent of research and analysis in an assignment defines? - Answer B.Scope of work When an issue necessary to the development of the value of opinion is uncertain as of the effective date of the assignment results of the appraiser will use? - Answer D.Extraordinary assumption An intended user is? - Answer D. A party who is identified by the appraiser at the time of the assignment.Appraisal practice includes? - Answer D. All valuation services performed by an individual acting as an appraiser.An appraiser provides an opinion of market rent for a property, this is an example of? - Answer A. an appraisal An appraiser's peer are defined as other appraisers who? - Answer A. have expertise and competency in a similar type of assignment. 1 / 2
USPAP/USPAP Exam With Complete Solutions.The scope of an appraisal review assignment may be? - Answer D. Any work completed as part of an appraisal or an appraisal review assignment.The Preamble states that the Appraisal Standards Board promulgates USPAP? - Answer C. For appraisers and the users of appraisal services.Real estate brokers, appraisal reviews, and automobile appraisals are all included in? - Answer B. Evaluations services If an appraiser agrees to perform an assignment to assist a client in pricing property for sale, the assignment is? - Answer C. a valuation service to which USPAP applies.An electronic signature maybe used only if the? - Answer D. appraiser applies it or authorizes its use for a specific assignment.An appraiser was requested to assist an attorney in developing an opinion of market value and advocate the interest in the client in litigation, this assignment is? - Answer D.Not permitted by USPAP.If the subject property sold more than one time in the USPAP prescribed period prior to the affective date of the appraisal, which of the sales must be analyzed? - Answer D. All sales in the time period prescribed in USPAP must be analyzed.The ethics rule states that the appraiser must? - Answer A. promote and preserve public trust inherent in the appraisal practice.If an appraiser lacks the knowledge or experience to complete an assignment competently in order to engage in this assignment, the appraiser must? - Answer D.disclose to the client the lack of knowledge or experience prior to agreeing to perform the assignment.Prior to completing an assignment for which he or she does not have the necessary knowledge or experience an appraiser engaged to appraise a specific type or property must? - Answer A. have the necessary knowledge and experience to complete the assignment competently.An appraiser completed an appraisal report on March 10th, 2016. The appraiser provided testimony related to the assignment on March 10th, 2018. The final disposition of the litigation related to the appraisal occurred on March 10th,2020. The appraiser must retain the work file until March 10th of - Answer B. 2022
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