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2024 15-HR NATIONAL USPAP COURSE 198 QUESTIONS EXAM 2024 | ACTUAL EXAM WITH A STUDY GUIDE AND PRACTICE EXAM | ACCURATE REAL EXAM QUESTIONS AND ANSWERS | GUARANTEED PASS | LATEST UPDATE | GRADED A$17.99
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2024 15-HR NATIONAL USPAP COURSE 198 QUESTIONS EXAM 2024 | ACTUAL EXAM WITH A STUDY GUIDE AND PRACTICE EXAM | ACCURATE REAL EXAM QUESTIONS AND ANSWERS | GUARANTEED PASS | LATEST UPDATE | GRADED A
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Course
2024 15-HR NATIONAL USPAP C
Institution
2024 15-HR NATIONAL USPAP C
2024 15-HR NATIONAL USPAP COURSE 198
QUESTIONS EXAM 2024 | ACTUAL EXAM
WITH A STUDY GUIDE AND PRACTICE
EXAM | ACCURATE REAL EXAM
QUESTIONS AND ANSWERS |
GUARANTEED PASS | LATEST UPDATE |
GRADED A
2024 15-HR NATIONAL USPAP COURSE 198
QUESTIONS EXAM 2024 | ACTUAL EXAM
WITH A STUDY GUIDE AND PRACTICE
EXAM | ACCURATE REAL EXAM
QUESTIONS AND ANSWERS |
GUARANTEED PASS | LATEST UPDATE |
GRADED A
Which Foundation board is responsible for USPAP? - ✔✔ANSW✔✔..Appraisal
Standards Board (ASB)
The Appraisal Foundation has the authority to enforce the requirements of USPAP.
T or F - ✔✔ANSW✔✔..false
When does a series of minor errors potentially result in a USPAP violation? -
✔✔ANSW✔✔..When the series of errors affects the credibility of the results
Which statement is TRUE regarding exposure time? - ✔✔ANSW✔✔..It is always
assumed to precede the effective date of the appraisal.
Exposure time is always assumed to occur prior to the effective date of the appraisal. It
is only necessary when exposure time is a component of the definition of value being
used.
Exposure time is: - ✔✔ANSW✔✔..An opinion developed by an appraiser
When appraising a property with proposed improvements, what type of value opinion is
permitted by USPAP? - ✔✔ANSW✔✔..Both current and prospective values
,An example of a relevant property characteristic that could affect a real property
appraisal assignment would be: - ✔✔ANSW✔✔..The fact that the subject property is
affected by an easement
What is the primary purpose of an appraiser making an inspection of the subject
property?
. - ✔✔ANSW✔✔..To collect information about characteristics that are relevant to value
AO-2 advises that the primary purpose of a property inspection is to collect information
about the characteristics of the subject property that are relevant to its value. USPAP
does not require that the subject property be inspected
An extraordinary assumption may be used in an assignment only if: -
✔✔ANSW✔✔..Required to develop credible results
When an appraiser provides a current value opinion on a proposed new building, he or
she is utilizing a(an) _____________ that the proposed improvements are completed as
of the effective date of the appraisal. - ✔✔ANSW✔✔..Hypothetical condition
An unacceptable assignment condition would be a condition that:
Limits report content, resulting in a misleading report
Limits the scope of work to the extent that the value opinion is not credible
Precludes an appraiser's impartiality - ✔✔ANSW✔✔..All of the answers listed
Which statement is TRUE regarding USPAP and the three approaches to value? -
✔✔ANSW✔✔..An assignment condition may require an appraiser to develop an
approach that he or she would otherwise consider unnecessary.
A client may request that an appraiser develop an approach to value that the appraiser
considers unnecessary; this would be an assignment condition. The other statements
are false.
When developing a sales comparison approach under USPAP: - ✔✔ANSW✔✔..The
appraiser must analyze such data as are available to indicate a value conclusion
USPAP only requires that an appraiser analyze such comparable sales data as are
available to indicate a value conclusion
When analyzing the subject property's sales history in a real property appraisal
assignment, an appraiser is required by USPAP to analyze ______________. -
✔✔ANSW✔✔..All sales of the subject property that occurred within three years prior to
the effective date of the appraisal
, When analyzing listings of the subject property in a real property appraisal assignment,
USPAP requires an appraiser to analyze, at a minimum, ____________. -
✔✔ANSW✔✔..Current listings
Standards Rule 1-5(a) requires appraisers to analyze current listings and agreements.
Analyzing prior listings may be an assignment condition specified by certain clients, but
it is not specifically required by USPAP.
When is it necessary to analyze prior listings of the subject property in a real property
appraisal assignment? - ✔✔ANSW✔✔..When such analysis is relevant to the current
assignment
The Appraisal Foundation is a private entity. The Foundation and its boards have no
enforcement authority in any jurisdiction.
Currently, the boards within The Appraisal Foundation include: -
✔✔ANSW✔✔..Appraisal Standards Board, Appraiser Qualifications Board, Board of
Trustees
Bias is permitted in an appraisal as long as the bias is clearly disclosed in the report. -
✔✔ANSW✔✔..False
In appraisal practice, advocating the cause or interest of any party or issue is: -
✔✔ANSW✔✔..Not permitted
Under the ETHICS RULE, an individual acting as an appraiser must not advocate the
cause or interest of any party or issue.
The ethical obligations of USPAP apply to: - ✔✔ANSW✔✔..Individual appraisers
USPAP does not apply to appraisal companies; however, the ETHICS RULE exhorts
appraisers who are employed by companies who do not conduct themselves in
accordance with USPAP to take whatever steps are appropriate to ensure USPAP
compliance. USPAP does not apply to appraisal clients.
An appraiser must disclose any service he or she provided regarding the subject
property for a period of _________ prior to agreeing to perform the assignment. -
✔✔ANSW✔✔..Three years
An appraiser is disclosing to a client the fact that she had previously appraised the
subject property within the prior three years. When making this disclosure, the appraiser
must be careful to: - ✔✔ANSW✔✔..Not disclose confidential information from the
previous assignment
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