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Uspap Exam Questions and Answers
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Uspap Exam Questions and Answers
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Uspap Exam Questions and AnswersWhat iiis iithe iistated iipurpose iiof iiUSPAP? ii- iiAnswers ii-Promote iiand iimaintain iithe
iipublic iitrust
USPAP iicompliance iiis iirequired iiof: ii- iiAnswers ii-Appraisers iirequired iiby iilaw,
iiregulation, iiagreement iior iichoice iito iibe iiUSPAP iicompliant
A iiclient iimakes iiseveral iirequests iiof iian iiappraiser iiwho iiis iicompleting iian iiappraisal
iiassignment. iiWhich iiof iithese iiclient iirequests iiis iian iiassignment iicondition iias iidefined
iiby iiUSPAP? ii- iiAnswers ii-The iiappraiser iimust, iiat iiminimum, iidevelop iithe iisales
iicomparison iiand iithe iicost iiapproach
Which iiof iithe iifollowing iiis iinot iia iirequirement iiof iia iiwritten iiAppraisal
Report, iiprepared iiin iicompliance iiwith iiUSPAP? ii- iiAnswers ii-It iimust iicontain iia iicopy
iiof iithe iideed iior iiother iitype iiof iilegal iidescription
Which iistatement iiis iiTRUE iiabout iithe iieffective iidate iiof iian iiappraisal? ii- iiAnswers ii-It
iiestablishes iithe iicontext iiof iithe iivalue iiopinion.
The iieffective iidate iiestablishes iithe iicontext iiof iithe iivalue iiopinion. iiThe iieffective iidate
iimay iibe iibefore, iion, iior iiafter iithe iidate iiof
In iian iiappraisal iiof iia iimulti-family iiresidence, iiwhich iiof iithese iiwould iiNOT iibe iian
iiassignment iiresult? ii- iiAnswers ii-Building iimeasurements
An iiappraiser iidoes iinot iipossess iithe iiknowledge iiand iiexperience iito iiperform iian
iiassignment, iibut iiwishes iito iiperform iithe iiassignment iianyway. iiWhich iiaction iiwould
iiNOT iibe iirequired iiby iiUSPAP? ii- iiAnswers ii-Inform iithe iiclient iiafter iithe iireport iihas
iibeen iidelivered iiabout iithe iiinitial iilack iiof iicompetency iiand iithe iisteps iithat iiwere iitaken
iito iicomplete iiit iicompetently.
ii
The iicompetency iirule iicalls iifor iifull iidisclosure iito iithe iiclient iiabout iithe iivaluation
iiprofessional's iilack iiof iiknowledge iiand/or iiexperience. iiDisclosure iishould iibe iimade iias
iisoon iias iithe iisituation iibecomes iiapparent iito iithe iiappraiser-either iibefore iiagreeing iito
iiperform iithe iiassignment iior iiduring iithe iiassignment, iiwhenever iithe iilack iiof
iiknowledge iiand iiexperience iibecomes iiknown iito iithe iiappraiser.
Feasibility iiAnalysis ii- iiAnswers ii-A iifeasibility iianalysis iiis iia iistudy iiof iithe iicost-benefit
iirelationship iiof iian iieconomic iiendeavor. iiSee iiDefinitions iiundef iiUSPAP
, An iiappraiser iiis iivaluing iia iiresidential iiproperty iithat iiis iicurrently iioffered iifor iisale iiand
iinot iiyet iiunder iicontract. iiThe iiappraiser iianalyzes iithe iisubject's iicurrent iilisting iiand
iiincludes iithis iiwording iiin iithe iireport, ii"The iisubject iiis iicurrently iioffered iifor iisale iifor
ii$499,900 iiand iihas iibeen iion iithe iimarket iifor ii60 iidays." iiIs iithis iiacceptable iiunder
iiUSPAP iireporting iistandards? ii- iiAnswers ii-No, iibecause iithis iiis iia iistatement iiof iifacts,
iiand iiprovides iino iisummary iiof iithe iiappraiser's iianalysis ii
This iiis iimerely iia iistatement iiof iifact, iiand iiit iiprovides iino iisummany iiof iishe iiappraiser's
iiarallysis iioftle iisubearsa.
An iiappraiser iiis iirequired iito iianalyze iithe iicurrent iilisting iiand iiprovide iia iisummary
iiofshe iiaralyss iiin
'analysis" iiof iia iicurrent iilisting iinot iiunder iicontract, iitaken iifiom iiUSPAP iiAdvisory
iiOpinion iisubject iiproperty iihas iibeen
Fisted iifor iisale iifor ii174 iidays. iiOriginally iilisted iiat iisig9900, iishe
the iimarket
Superior iiproperties iihave iilist iierices iiunder
7202 iiamo
ect iiproperty iimay iiexperience iia
Standard ii2 ii- iiAnswers ii-The iireport iicontent iiand iilevel iiof iiinformation iirequirements iiin
iiSTANDARD ii2 iiare iiminimums iifor iieach iitype iiof iireport. iiAn iiappraiser iimust
iisupplement iia iireport iiform, iiwhen iinecessary, iito iiensure iithat iiany iiintended iiuser iiof
iithe iiappraisal iiis iinot iimisled iiand iithat iithe iireport iicomplies iiwith iithe iiapplicable
iicontent iirequirements.
Which iifederal iigovernment iientity iioversees iithe iiactivities iiof iiThe iiAppraisal
iiFoundation? ii- iiAnswers ii-The iiAppraisal iiSubcommittee iihas iiauthority iifrom iiTitle iiXI
iito iioversee iithe iiactivities iiof iiThe iiAppraisal iiFoundation, iiincluding iithe iiASB iiand iithe
iiAQB
An iiappraiser iiis iiengaged iito iiappraise iia iiresidence iithat iifronts iia iitwo-lane iiresidential
iistreet. iiIt iiis iipublic iiknowledge iithat iithe iiCity iiCouncil iirecently iivoted iito iiwiden iithe
iistreet iito iifour iilanes iinext iiyear. iiHowever, iithe iiappraiser iiwas iinot iifamiliar iiwith iithe
iiCity's iiproposal iiand iitherefore iidid iinot iiconsider iithe iieffects iiof iithe iistreet iiwidening iiin
iithe iiappraisal.
Has iithe iiappraiser iiviolated iithe iiCOMPETENCY iiRULE? ii- iiAnswers ii-Yes, iithe
iiappraiser iidid iinot iiconsider iithe iirelevant iicharacteristic. iiThe iimarket iiwill iireact iitoday
iito iithis iichange iiin iithe iifuture iiand iithe iiappraiser iishould iiconsider iithis iireaction iiand
iinote iiits iieffect iion iivalue
Which iientity iisets iithe iiminimum iistandards iifor iilicensing iiand iicertification iiof
iiappraisers iiwhich iithe iistates iiare iirequired iito iiadopt? ii- iiAnswers ii-The iiAppraiser
iiQualifications iiBoard
An iiappraiser iiis iipreparing iian iiAppraisal iiReport iiusing iia iiform iicreated iiby iithe iiclient.
iiThe iitop iiof iithe iiform iiis iilabeled iiprominently ii"Summary iiAppraisal iiReport." iiIs iithis
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