Uspap opinion of value - 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...

What is appraisal? - The act or process of developing an opinion of value of an asset What is USPAP? - Uniform Standards of Professional Appraisal Practice What is real estate? - An identified parcel or tract of land, including imporvements, if any. The physical land and appurtenances affixed to the land What is real property? - The interests, benefits, and rights inherent in the ownership of real estate (land, buildings, fixtures) What is the total range of private owneership intere...

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 ...

Principles of Real Estate 2 Champion Exam With 100% Correct Answers 2024 What does D.U.S.T. stand for? - answerDemand, Utility, Scarcity, Transferability the percentage of value or sales price that a lender is willing to finance - answerLoan to Value Ratio (LTV) the value of a property is equal to the sum of the contributory value of each of its component parts. - answerprinciple of contribution the forces acting on a parcel of land are always affecting the value of the land - answerPRIN...

IAAO 300: Complete Course Review Questions and Answers 100% Pass What is the main difference between single property appraisal and mass appraisal? 1. Group vs Particular 2. Mass Appraisal emphasizes standardized and statistical quality control features In the Appraisal Process, "Define the valuation problem" does not include which of the following: a. Define the Value to be developed b. Identify limiting conditions or limitations c. Date of the value d. Competitive properties e. Identify...

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...

National USPAP Course Exam 172 Questions with Answers The Appraisal Foundation has the authority to enforce the requirements of USPAP. - CORRECT ANSWER False Currently, the boards within the Appraisal Foundation include: - CORRECT ANSWER Appraisal 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 dissem...

USPAP 15-Hour Course With Complete Solutions 2023 The Preamble states that USPAP is - Correct Answer-for appraisers and users of appraisal services. The stated purpose of USPAP - Correct Answer-Promote and maintain a high level of public trust in appraisal practice. When obligated by law or regulation an appraiser must - Correct Answer-comply with USPAP. USPAP applies to which types of properties? - Correct Answer-Tangible and Intangible Valuation services - Correct Answer-is not a subs...

Florida Real Estate U Final Exam Answered 2023/2024 Florida Real Estate U Final Exam Answered 2023/2024 An appraisal can be completed by which of the following? A home inspector A real estate broker A licensed appraiser using USPAP standards A mortgage loan originator A licensed appraiser using USPAP standards What is a BPO? Broker Price Opinion Best Practice Organization Best Prospective Offer Beyond Present Opportunities Broker Price Opinion Which of the following is incorrect?...

Gold Coast School Real Estate Questions (Chapter1-19) 100% Accurate 1. The real estate market is local in nature what does that mean? - ANSWER Information about real estate can best be found through local sources, which makes the real estate market local in nature 2. You would expect a real estate licensee to perform all of the following activities, EXCEPT: A. Providing expert knowledge about construction methods and materials B. Providing expert knowledge to members of the public in t...