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USPAP EXAM, FINAL EXAM, PRACTICE EXAM ,PROGRESS EXAM AND COURSE EXAM LATEST ACTUAL EXAM TEST BANK 450+ QUESTIONS AND CORRECT DETAILED ANSWERS
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Course
USPAP
Institution
USPAP
USPAP EXAM, FINAL EXAM, PRACTICE EXAM ,PROGRESS
EXAM AND COURSE EXAM LATEST ACTUAL
EXAM TEST BANK 450+ QUESTIONS AND CORRECT
DETAILED ANSWERS
USPAP EXAM, FINAL EXAM, PRACTICE EXAM ,PROGRESS
EXAM AND COURSE EXAM LATEST ACTUAL
EXAM TEST BANK 450+ QUESTIONS AND CORRECT
DETAILED ANSWERS
USPAP EXAM, FINAL EXAM, PRACTICE EXAM ,PROGRESS
EXAM AND COURSE EXAM LATEST 20232024 ACTUAL
EXAM TEST BANK 450+ QUESTIONS AND CORRECT
DETAILED ANSWERS
According to the Record Keeping section of the ETHICS RULE,
what information is NOT required to be in a workfile?
a. documentation to support the appraiser's opinions and
conclusions
b. references to the location of other documentation not in the
workfile
c. specific names of other intended users
d. true copies of any written reports - ANSWER-C) specific names
of other intended users
Which is NOT an element of problem identification?
a. assignment conditions
b. client and other intended users
c. effective date of the opinions and conclusions
d. reporting option to be used in the assignment - ANSWER-D)
reporting option to be used in the assignment
Most of the information necessary for the appraiser to identify the
problem in a particular assignment
a. must be identified without client input.
b. requires communication with the client.
c. reveals itself while gathering data.
d. will be the same in every assignment. - ANSWER-B) requires
communication with the client.
An appraiser's peer is defined as
,USPAP EXAM, FINAL EXAM, PRACTICE EXAM ,PROGRESS
EXAM AND COURSE EXAM LATEST 20232024 ACTUAL
EXAM TEST BANK 450+ QUESTIONS AND CORRECT
DETAILED ANSWERS
a. another appraiser possessing the same credentials.
b. appraisers who work in the same geographic area.
c. other appraisers who have expertise and competency in a
similar type of assignment.
d. a regularly intended user in a similar assignment. - ANSWER-
C) other appraisers who have expertise and competency in a
similar type of assignment.
When can an extraordinary assumption be used regarding
information not available to the appraiser due to assignment
conditions?
a. it cannot be used
b. when the client directs it be used
c. when credible assignment results can still be developed
d. when there are no other intended users - ANSWER-C) when
credible assignment results can still be developed
Which is NOT an option when an appraiser finds circumstances
that change the research and analysis that he originally planned
at the onset of an assignment?
a. disregard the circumstances and proceed as originally planned
b. modify the scope of work
c. use an extraordinary assumption if credible results could be
obtained
d. withdraw from the assignment - ANSWER-A) disregard the
circumstances and proceed as originally planned
The scope of work disclosed in an appraisal report must include
the
,USPAP EXAM, FINAL EXAM, PRACTICE EXAM ,PROGRESS
EXAM AND COURSE EXAM LATEST 20232024 ACTUAL
EXAM TEST BANK 450+ QUESTIONS AND CORRECT
DETAILED ANSWERS
a. appraiser's final conclusions and value opinion.
b. initially planned scope of work at the onset of the assignment.
c. intended use in the assignment.
d. scope of work that was actually performed. - ANSWER-D)
scope of work that was actually performed.
Which is NOT a force that could cause an appraiser to invoke the
JURISDICTIONAL EXCEPTION RULE?
a. administrative rules and ordinances
b. attorney at law
c. constitutional law
d. legislative and court-made law - ANSWER-B) attorney at law
When the JURISDICTIONAL EXCEPTION RULE is invoked, who
determines if the Rule is appropriate?
a. the appraiser
b. the client
c. the intended users
d. state and local authorities - ANSWER-A) the appraiser
Scope of work is the type and extent of research and ____ in an
assignment.
a. analysis
b. diligence
c. inspection
d. reporting - ANSWER-A) Analysis
, USPAP EXAM, FINAL EXAM, PRACTICE EXAM ,PROGRESS
EXAM AND COURSE EXAM LATEST 20232024 ACTUAL
EXAM TEST BANK 450+ QUESTIONS AND CORRECT
DETAILED ANSWERS
Which would NOT be part of the scope of work decision?
a. extent of inspection
b. extent of property identification
c. reporting option and format
d. type and extent of data to be researched - ANSWER-C)
reporting option and format
The scope of work in each particular assignment must be
determined when the assignment involves
a. an appraisal, appraisal review, or appraisal consulting.
b. any appraisal practice.
c. intended users other than the client.
d. valuation services performed by an appraiser. - ANSWER-A)
an appraisal, appraisal review, or appraisal consulting.
When deciding the scope of work, an appraiser must be prepared
to demonstrate that the scope of work is sufficient to
a. produce credible results.
b. reconcile the conclusions.
c. result in a value conclusion.
d. satisfy the client. - ANSWER-A) produce credible results.
When must an appraiser disclose research and analysis that was
not performed in an assignment?
a. as part of the scope of work disclosure of every assignment
b. if there are intended users other than the client identified in the
assignment
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