Uspap law and regulations - Study guides, Class notes & Summaries

Florida Real Estate Chapter 1 Review Graded A+ Sales Associate License Qualifications (F.S. 475.17) -18 Years of Age -High school diploma -Honest, Trustworthy, of good character and have a reputation for fair dealing -Does NOT have to be a Florida resident or U.S. citizent Custom Building Building to the owner's specifications. Farming Specializing in one type or style of property, or in a particular neighborhood. Appraising The art of estimating value of property, where the fee is bas...

USPAP Practice Exam 100 Questions with Answers The PREAMBLE states the purpose of USPAP is to promote and maintain a high level of public _____ in appraisal practice by establishing requirements for appraisers. A) Awareness B) Recognition C) Support D) Trust - CORRECT ANSWER D) Trust USPAP benefits providers of appraisal services and a. the Appraisal Standards Board. b. disinterested parties. c. federal officials. d. users of appraisal services. - CORRECT ANSWER D) Users of...

USPAP 15-Hour Course Exam 171 Questions with Answers 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 n...

Appraiser One who is expected to perform valuation services competently and in a manner that is independent, impartial, and objective. Uniform Standards of Professional Appraisal Practice (USPAP) These are the nationally-recognized ethical and performance standards that we have to live up to as appraisers. A report is defined in USPAP as: Any communication, written or oral, of an appraisal or appraisal review that is transmitted to the client or a party authorized by the client ...

USPAP 15-hour Course Exam With 100% Correct Answers 2023 The concept of public trust means that an appraiser must act: - Correct Answer-in the public's interest USPAP establishes standards that are applicable in the appraisal of: - Correct Answerreal property, intangible property, and personal property Which statement is TRUE regarding The Appraisal Foundation and USPAP enforcement authority? - Correct Answer-The Appraisal Foundation does not have the authority to enforce the requirement...

USPAP 2020-2021 Exam 133 Questions with Answers Which board within The Appraisal Foundation has the authority to make revisions to USPAP? Board of Trustees (BOT) Appraisal Standards Board (ASB) Appraiser Qualifications Board (AQB) All boards within the Foundation have the authority to revise USPAP - CORRECT ANSWER Appraisal Standards Board (ASB) The three independent boards within The Appraisal Foundation include: Appraisal Standards Board, Appraisal Subcommittee, Federal Housing F...

USPAP 15-hour course Exam 173 Questions with Answers The concept of public trust means that an appraiser must act: - CORRECT ANSWER in the public's interest USPAP establishes standards that are applicable in the appraisal of: - CORRECT ANSWER real property, intangible property, and personal property Which statement is TRUE regarding The Appraisal Foundation and USPAP enforcement authority? - CORRECT ANSWER The Appraisal Foundation does not have the authority to enforce the requirements of ...

USPAP Practice Exam with 100% Correct Answers 2023 The PREAMBLE states the purpose of USPAP is to promote and maintain a high level of public _____ in appraisal practice by establishing requirements for appraisers. A) Awareness B) Recognition C) Support D) Trust - Correct Answer-D) Trust USPAP benefits providers of appraisal services and a. the Appraisal Standards Board. b. disinterested parties. c. federal officials. d. users of appraisal services. - Correct Answer-D) Users of appr...

USPAP (Example Questions and Answers from the book) 2023 Different appraisal regulations among states. - Correct Answer-Which is not one of the contributing factors that led to a need for regulation in the appraisal profession? Appraisal Subcommittee (ASC) - Correct Answer-Responsible for the Federal oversight of state real estate licensing and certification TRUE - Correct Answer-(T/F) The AppraisalSubcommittee monitors the activities of TAF to determine if policies and procedures are con...

7 Hour USPAP Exam 128 Questions with Answers What is true about an appraiser's description of the physical characteristics of a property? a) The physical chracteristics are treated as outside the appraisal practice b) The physical characteristics are not assignment results. c) The pyhsical characteristics must be verified with public records if the data is available through the normal course of business. d) The physical characteristics are confidential information. - CORRECT ANSWER b) Th...