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

USPAP Study Guide exam 242 Questions with Answers 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 consiste...

USPAP Exam 152 Questions with Answers 2023 The appraiser could accept the assignment (as a new assignment) - CORRECT ANSWER as long as proper disclosure is made regarding the prior assignment & any confidential in formation is handled appropriately. in a deed being used in a purchase transaction, who is the grantee? - CORRECT ANSWER The party receiving title - "purchaser" is known as the grantee. Any services provided by an appraiser, other than an appraisal or appraisal review, wou...

USPAP Exam with 100% Correct Answers 2023 Financial chaos began in the US during the - Correct Answer-1929 stock market crash after the great depression In the 1950s-70s double continued with - Correct Answer--Works related areas -Property taxation -Federal housing programs 1990s trouble was because of... - Correct Answer-Mortgage scams and illegal house flipping. 1980s trouble was because of... - Correct Answer-the Savings and Loans Crisis 1990s to 2000s trouble was from... - Correct ...

Florida real estate business (2022/2023) Already Graded A Florida real estate Residential property in Florida is a family home that is a single family dwelling, a duplex, a triplex (3units) or a quad (4 units) or vacant land that has been zoned for 4 units or less. Farm/Agriculture residential is a family home on less than 10 acres land. Commercial property is income producing property such as a retail center or an apartment complex of more than four units. The real estate professional must be a...

Gold Coast School Real Estate Questions Ch.1-19||Complete Questions with 100% Correct Answers 1. The real estate market is local in nature what does that mean? 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...

Standards 1-10 Address value, not price Advisory Opinions Are issued to illustrate the applicability of appraisal standards in specific situations and to offer advice from the ASB for the resolution of appraisal issues and problems. Appraisal Practice Performed only by the appraiser An opinion that expresses an economic concept Value Compliance with USPAP is required when either the service or the appraiser is obligated to comply by Law Regulation Agreement (wi...

MN Course 1 Exam Prep: Licensing, Agency, and Contracts questions and answers latest top score. How many hours of education must an applicant for a salesperson's license take in Minnesota before sitting for the exam? - correct answers.30 (Course 1) How many hours of education must an applicant for a salesperson's license take in Minnesota before applying for a license? - correct answers.90 (Courses 1, 2, and 3) What's a passing percentage for the Minnesota sales...

Which entity is responsible for establishing education and experience requirements for licensing and certification of appraisers? Appraiser Qualifications Board (AQB) The guidance issued by the Appraisal Practices Board is considered: Voluntary USPAP is developed, interpreted, and amended by the: Appraisal Standards Board (ASB) The Appraisal Standards Board (ASB) develops, interprets, and amends USPAP. Advisory Opinions are best described as not part of USPAP, but inc...

Who is responsible for issuing credentials to individual appraisers? - Correct AnswerState appraiser regulatory agencies are responsible for receiving and processing applications for licensure and certification, and for issuing credentials to qualified individuals. Which is NOT a responsibility of the Appraisal Subcommittee (ASC)? - Correct AnswerUSPAP is written, interpreted, and amended by the Appraisal Standards Board (ASB). The other answers listed are all responsibilities of the ASC. U...

Gold Coast School Real Estate Graded A+ Questions Ch.1-19 with correct Answers. 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 publi...