Exam (elaborations)
USPAP Chapter 2 Quiz
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- USPAP Chapter 2
USPAP Chapter 2 Quiz
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USPAP Chapter 2 QuizIf an appraiser assumes a condition to be true that does not exist for the
purpose of analysis, this is an example of:
A) A limiting condition
b) An assumption
c) A hypothetical condition
d) An extraordinary Assumption Correct Ans - c) A hypothetical
Condition
If an appraiser assumes a condition to be true, and evidence supports that
belief, although that fact is not certain, this is an example of:
a) A limiting condition
b) An extraordinary Assumption
c) An assignment condition
d) A hypothetical condition Correct Ans - b) An extraordinary
assumption
"The monetary relationship between properties and those who buy, sell, or
use those properties" is the definition of:
a) None of these
b) Price
c) Cost
d) Value Correct Ans - d) Value
By using a published cost manual, an appraiser determines that the
construction of of a 2,500 SF dwelling is $400,000. This figure represents the
dwelling's
a) Cost
b) Price
c) Value Correct Ans - a) Cost
Which of these statements is TRUE about the USPAP definition of client?
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