Extraordinary assumption - Study guides, Class notes & Summaries

Valuation process A systematic procedure used in the valuation of real property. Steps: 1: Define the problem 2:Determine scope of work 3:Gather, record, and verify the data 4:Determine the highest and best use 5:Estimate the land value 6:Estimate value by each of the three approaches (if applicable) 7:Reconcile the estimated values into the final opinion of value 8:Report the final opinion of value Client The party or parties who engage, by employment or contra...

CHAPTER 1 Historical Foundations of Addressing Needs: Indigenous, French, and English Traditions MULTIPLE CHOICE QUESTIONS 1. Mino-pimatisiwin is a Cree word that means ________. a) social work b) the Medicine Wheel c) the good life d) First Nations e) a gathering of elders 2. Canadian social work has largely been shaped by ________ traditions. a) British and American b) American only c) Western European d) Australian e) Scandinavian 3. ________, a principle contained in the Med...

1.Consider the statement, "all sick people should see a doctor. An elderly man is ill". therefore the man A. Should see a doctor B. Should see a doctor if he does not get well C. Is like most ill people D. May not get well unless he sees a doctor - 1. Consider the statement, "all sick people should see a doctor. An elderly man is ill". therefore the man A. Should see a doctor 2.A science student is watching a television debate on the genetic cloning of animals. In order for the stude...

Consider the statement, "all sick people should see a doctor. An elderly man is ill". therefore the man A. Should see a doctor B. Should see a doctor if he does not get well C. Is like most ill people D. May not get well unless he sees a doctor (Ans- A. Should see a doctor 2.A science student is watching a television debate on the genetic cloning of animals. In order for the student to make a reasoned decision, the student must first A. Justify the opinions presented in the telev...

National USPAP Course Exam The Appraisal Foundation has the authority to enforce the requirements of USPAP. - Correct answer-False Currently, the boards within the Appraisal Foundation include: - Correct answerAppraisal Standards Board, Appraisal Qualifications Board, Board of Trustees Which Foundation board is responsible for USPAP? - Correct answer-Appraisal Standards Board Qualification criteria for appraiser certification and recertification are disseminated to state appraisal boards ...

8 Steps in the Valuation Process (Ans- 1) Define the problem 2) Determine scope of work 3) Gather, record and verify the data 4) Determine the highest and best use 5) Estimate the land value 6) Estimate value by each of the 3 approaches (if applicable) 7) Reconcile the estimated values into the final opinion of value 8) Report the final opinion of value Defining the Problem: 6 Sub-steps within (Ans- -Identification and location of the real estate -Identification of the propert...

Basic Appraisal Procedures Questions and Answers 2024 ch1 What is the first step in the valuation process? determine scope of work define the problem estimate land value gather, record, and verify data -Answer-define the problem ch1 True or False: There is one universal definition of market value used in real property appraisal. True False -Answer-false ch1 What is the final step in the valuation process? determine highest and best use estimate value by the three approaches report t...

Chapter 1—Financial Reporting MULTIPLE CHOICE 1. The following is NOT a major component of the financial statements: a. auditor’s opinion b. annual report c. explanatory notes d. balance sheet ANS: B PTS: 1 TOP: AICPA FN-Reporting DIF: Easy OBJ: LO 1 MSC: AACSB Reflective Thinking 2. The following are users of accounting information: a. stakeholders b. creditors c. investors d. all of the above ANS: D PTS: 1 TOP: AICPA FN-Reporting 3. Interested parties receive information ab...

ATI CRITICAL THINKING EXAM QUESTIONS AND ANSWERS LATEST UPDATED 1.Consider the statement, "all sick people should see a doctor. An elderly man is ill". therefore the man A. Should see a doctor B. Should see a doctor if he does not get well C. Is like most ill people D. May not get well unless he sees a doctor 1. Consider the statement, "all sick people should see a doctor. An elderly man is ill". therefore the man A. Should see a doctor 2.A science student is watching a televis...

Basic Appraisal Procedures Questions and Answers True or False: The effective date of the valuation must be the date on which the appraiser inspected the subject property. -Answer-FALSE In many cases, the effective date is the date the appraiser inspects the subject property. But that is not always the case. The effective date can be any date, whether past, present, or future. "An interest or interests in real estate" is the definition of -Answer-Real Property "An assignment-specific a...

USPAP 15-hour course Questions and Answers 100% Pass The concept of public trust means that an appraiser must act: in the public's interest USPAP establishes standards that are applicable in the appraisal of: real property, intangible property, and personal property Which statement is TRUE regarding The Appraisal Foundation and USPAP enforcement authority? The Appraisal Foundation does not have the authority to enforce the requirements of USPAP. Which entity is responsible for establishing e...