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GENERAL REPORT WRITING & CASE STUDIES CH 6 & 7 QUESTIONS AND RIGHT ANSWERS 2024 - 25
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GENERAL REPORT WRITING & CASE STUDIES CH 6 & 7 QUESTIONS AND RIGHT ANSWERS 2024 - 25
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GENERAL REPORT WRITING & CASE STUDIES CH 6& 7 QUESTIONS AND RIGHT ANSWERS 2024 - 25
Which,of,the,following,should,you,include,in,your,summary,of,the,methods,,techniques,,and,analyses,you,
used,to,generate,the,final,opinion,of,value?,,ANS,-,,A,general,summary,of,the,three,approaches,to,value
When,explaining,the,analytical,process,,why,do,you,need,to,provide,only,general,summaries,of,the,three,
approaches,in,this,section,of,the,appraisal,report?,,ANS,-
,,You,simply,want,to,provide,the,intended,user,with,preliminary,education,about,the,three,approaches,ap
praisers,use,to,develop,an,opinion,of,value
When,writing,your,summary,of,the,appraisal,process,,which,of,the,following,would,you,NOT,include?,,AN
S,-,,Your,final,opinion,of,value
Why,is,it,a,good,idea,to,begin,the,explanation,of,your,analytical,process,by,reiterating,the,purpose,and,int
ended,use,of,the,appraisal?,,ANS,-
,,Because,they,are,the,reasons,that,the,appraisal,is,being,performed,,and,reiterating,them,will,support,the
,explanations,of,the,analytical,portions,of,the,appraisal,that,follow
When,a,market,value,opinion,is,being,developed,,which,of,the,following,statements,is,true?,,ANS,-
,,You,must,state,and,identify,the,exact,definition,of,value,being,provided,and,cite,the,source.
Why,should,you,place,your,summary,of,the,methods,,techniques,and,analyses,you,used,to,generate,your,
opinion,of,value,after,the,description,of,the,site,,building(s),and,improvements,,and,before,your,analysis,o
f,the,first,approach,to,value,that,you,employed?,,ANS,-
,,Doing,so,provides,a,logical,transition,between,these,two,sections,of,the,report.
What,is,the,purpose,of,summarizing,the,methods,,techniques,,and,analyses,you,use,to,generate,your,final
,opinion,of,value?,,ANS,-
,,To,provide,the,intended,user,with,an,understanding,of,the,information,analyzed,,the,appraisal,methods,
and,techniques,employed,,and,the,reasoning,that,supports,the,analyses,,opinions,and,conclusions,in,the,a
ppraisal,report,,as,well,as,to,comply,with,USPAP
, If,an,experienced,appraiser,is,familiar,with,a,particular,definition,of,market,value,used,by,a,particular,clien
t,,does,she,need,to,cite,the,source,of,the,definition,in,the,narrative,report?,,ANS,-
,,Yes,,USPAP,requires,appraisers,to,cite,the,source,of,the,definition
Which,statement,is,true,regarding,where,in,the,report,you,discuss,your,methodology,,ANS,-
,,In,transition,from,the,subject,property,description,to,the,analytical,methods
If,you,are,aware,that,your,client,and,the,intended,user,has,extensive,knowledge,of,appraisal,methodology
,,you,should,.,.,.,,ANS,-,,Provide,a,brief,overview,of,the,appraisal,methods,and,techniques,you,use
What,is,the,appropriate,sequence,of,topics,in,a,narrative,appraisal,report,,ANS,-
,,Description,of,methodology,,Sales,comparison,approach,,Reconciliation
Which,USPAP,Standard,governs,how,you,present,your,analysis,in,your,report,,ANS,-,,Standard,2
It,is,safe,to,assume,that,the,intended,user,has,a,good,understanding,of,which,of,the,following,approaches,
,ANS,-,,It,is,not,safe,to,assume,any,particular,level,of,knowledge,of,appraisal,methodology
What,is,a,common,oversight,when,writing,a,narrative,appraisal,report?,,ANS,-
,,Moving,right,into,performing,the,three,approaches,without,providing,the,intended,user,any,explanation,
of,the,analytical,process
Which,is,the,best,approach,in,writing,your,analysis,explanation?,,ANS,-
,,Assume,the,intended,user,knows,little,or,nothing,about,appraisal
What,appraisal,method,do,appraisers,often,use,to,estimate,land,value,within,the,Cost,Approach?,,ANS,-
,,The,Sales,Comparison,method
Which,of,the,following,could,you,use,to,summarize,the,process,of,the,Sales,Comparison,Approach?,,ANS,-
,,The,value,indication,by,this,approach,is,developed,by,investigating,the,marketplace,to,find,recent,sales,o
f,properties,that,are,reasonably,comparable,to,the,property,being,appraised.
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