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1 | P a g e Created by Grace Amelia © 2025, All Rights Reserved. Mckissock USPAP Chapter 8 Questions and Answers 100% Pass Standard 2 States... - ANSWER -In reporting the results of a real property appraisal, an appraiser must communicate each analysis, opinion, and conclusion in a manner that is not misleading. Report - ANSWER -Any communication, written or oral, of an appraisal or appraisal review that is transmitted to the client upon completion of an assignment. What does standard 2...

Mckissock USPAP Chapter 1 Questions and Answers 100% Pass USPAP Provides... - ANSWER -1. A common basis for comparison 2. A reference source for all users of the document 3. A basis for uniform enforcement for state regulatory agencies 4. A reason for clients, other intended users, and the public to place their trust in the services performed by professional appraisers USPAP Stands for - ANSWER -Uniform Standards of Professional Appraisal Practice Year Appraisal Foundation formed - ANSWE...

USPAP Hour National USPAP Update Course Questions and Answers An appraiser is developing a market value opinion on a property that may have environmental contamination, although the contamination status is uncertain. The appraiser uses an extraordinary assumption to value the property as if uncontaminated. In the appraisal report prepared for this assignment, must the appraiser use the label "Extraordinary Assumption?" - ANSWER -USPAP does not require the use of the label "extrao...

USPAP 15-Hour Course Questions and Answers 100% Pass The Preamble states that USPAP is - ANSWER -for appraisers and users of appraisal services. The stated purpose of USPAP - ANSWER -Promote and maintain a high level of public trust in appraisal practice. When obligated by law or regulation an appraiser must - ANSWER -comply with USPAP. USPAP applies to which types of properties? - ANSWER -Tangible and Intangible Valuation services - ANSWER -is not a subset of appraisal practice. An appr...

rial Which of the fol- lowing best de- scribes a Com- ment to a Stan- dards Rule? 5. Extraordinary Assumption Which one of the following is an assignment condi- tion? 6. confidential information An appraiser has received an as- signment to ap- praise several col- lections where only one rep- resentative piece is available to be viewed for each collection. The appraiser has been advised that the collections are complete. the ap- praiser agrees to 1 / 12 National Appraisal...

USPAP 7HR Update Questions and Answers 100% Pass Increasing property values - ANSWER -In a real property appraisal report, which of these is LEAST likely to be considered a "code word" that could indicate disparate treatment? Up-and-coming area Low crime rate Homes show good pride of ownership Increasing property values - ANSWER -An appraiser is valuing a property that is zoned R-1 Residential. The appraiser decides to value the property under the extraordinary assumption that th...

hour National USPAP Updates Study online at 1. The ASB has issued an exposure draft of proposed changes to the USPAP. What must occure before these proposed changes may be made to USPAP? The proposed changes must be discussed and adopted at a public meeting 2. USPAP Advisory opinions are considered by the ASB to be: Other communications and not part of the USPAP 3. The new edition of the USPAP has been released. Which statement is true re- guarding the effective date of this new ...

Texas Promulgated Forms Exam Questions and Answers 100% Pass Which of these promulgated forms does NOT include "time is of the essence"? - ANSWER -Loan Assumption Addendum A couple starts celebrating the sale of their home after their listing agent calls them with the news that they've received an acceptable offer. The listing agent says he is coming over to get their acceptance and signatures. However, by the time the agent arrives the sellers are completely inebriated. The agent...

Texas Promulgated Contracts-CHAMPIONS STUDY Questions and Answers 100% Pass The elements of a valid contract are, competent parties, consideration, legal subject matter, in writing, and ___________. (a) Default (b) Mutual consent (c) Property condition (d) Recording - ANSWER -B A(n) __________________ contract is defined as a contract that is binding on the parties, with one or more of the parties having contractual duties that have not yet been performed. (a) Executory (b) Executed ...

Texas Promulgated Contracts Exam Questions and Answers 100% Pass addenda - ANSWER -additions to a completed contract that specify supplementary information to the contract amendment - ANSWER -change or modification to an already agreed-upon contract bilateral contract - ANSWER -a contract wherein both parties are obligated to perform in an exchange of promises buyer rebate - ANSWER -anything during a transaction that causes money to go back to the buyer, either at or after closing, witho...