100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
15-Hour USPAP National Course $17.99   Add to cart
Quickly navigate to
Preview
  2.  
  3. 15-Hour USPAP National Course
  4.  
  5. 15-Hour USPAP National Course

Exam (elaborations)

15-Hour USPAP National Course

1 review
 8 views  0 purchase
  • Course
  • 15-Hour USPAP National Course
  • Institution
  • 15-Hour USPAP National Course

15-Hour USPAP National Course

Preview 2 out of 13  pages

Document information

  • September 25, 2024
  • 13
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • 15 hour uspap national course

Written for

  • 15-Hour USPAP National Course
  • 15-Hour USPAP National Course

1  review

review-writer-avatar

By: Americannursingaassociation • 6 days ago

Seller

avatar-seller
leonardmuriithi061

Reviews received

Content preview

15-Hour USPAP National Course,


The concept of public trust means that an appraiser must act: - ANSWER in the
public's interest

USPAP establishes standards that are applicable in the appraisal of: - ANSWER
real property, intangible property, and personal property

Which statement is TRUE regarding The Appraisal Foundation and USPAP
enforcement authority? - ANSWER The Appraisal Foundation does not have the
authority to enforce the requirements of USPAP.

Which entity is responsible for establishing education and experience requirements
for licensing and certification of appraisers? - ANSWER Appraiser Qualifications
Board (AQB)

Qualification criteria for appraiser certification and recertification are disseminated to
state appraisal boards by the: - ANSWER Appraiser Qualifications Board (AQB)

Which entity appoints members of the Foundation's independent Boards? -
ANSWER Board of Trustees (BOT)

USPAP is developed, interpreted, and amended by the: - ANSWER Appraisal
Standards Board (ASB)

Advisory Opinions are best described as - ANSWER Not part of USPAP, but
included as reference material

The ASB is considering comment letters written by members of the public regarding
a proposed revision to USPAP. When reviewing these comment letters, the ASB
focuses on: - ANSWER The reasoning and insight presented in the letter

Which is NOT a responsibility of the Appraisal Subcommittee (ASC)? - ANSWER
Developing, amending, and interpreting USPAP

Who is responsible for issuing credentials to individual appraisers? - ANSWER
State appraisal regulatory agencies

Under FIRREA, USPAP is enforced by: - ANSWER State appraiser
licensing/certification agencies

Which entity maintains the official national registry of state-certified and licensed
appraisers? - ANSWER Appraisal Subcommittee (ASC)

In USPAP, the appraisal process is divided into two distinct types of activity:
_________ and __________. - ANSWER development, reporting

, Which step in the appraisal process involves communication of the appraiser's
opinions and conclusions? - ANSWER reporting

The first step in the appraisal process is: - ANSWER Identify the problem

A preference or inclination that precludes an appraiser's impartiality, independence,
or objectivity is: - ANSWER bias

An appraiser is not permitted to be ____________ when performing an appraisal. -
ANSWER an advocate

conveys a mental state that does not favor one side over another at the outset of an
investigation is what? - ANSWER impartiality

representing the cause or interest of another, even if that cause or interest does not
necessarily coincide with one's own beliefs, opinions, conclusions, or
recommendations is what? - ANSWER advocacy

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: - ANSWER an extraordinary
assumption

If an appraiser assumes a condition to be true that does not exist for the purposes of
analysis, this is an example of: - ANSWER hypothetical condition

The terms extraordinary assumption and hypothetical condition: - ANSWER Have
different meanings within USPAP

By using a published cost manual, an appraiser determines that the construction
cost of a 2,500 square foot dwelling is $400,000. This figure represents the
dwelling's: - ANSWER cost

"The monetary relationship between properties and those who buy, sell or use those
properties" is the definition of: - ANSWER value

Which of these statements is TRUE about the USPAP definition of client? -
ANSWER The client may engage the appraiser through an agent.

Which statement about intended users is TRUE? - ANSWER The client is always an
intended user

Who makes the identification of the intended use in an assignment? - ANSWER the
appraiser

An intended user is: - ANSWER A party who is identified by the appraiser based on
communication with the client at the time of the assignment

A real estate broker completes a Comparative Market Analysis (CMA) on a property
that he wants to list for sale. What would this be considered? - ANSWER a valuation
service

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller leonardmuriithi061. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $17.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

64438 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$17.99
  • (1)
  Add to cart