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USPAP Exam Questions and Answers
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USPAP Exam Questions and Answers
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USPAP Exam Questions and AnswersAPPRAISAL ii- iiAnswers ii-(noun) iiact iior iiprocess iiof iideveloping iian iiopinion iiof iivalue;
iian iiopinion iiof iivalue
(adj) iiof iior iipertaining iito iiappraising iiand iirelated iifunctions iisuch iias iian iiappraisal
iipractice iior iiappraisal iiservices
APPRAISAL iiCONSULTING ii- iiAnswers ii-the iiact iior iiprocess iiof iideveloping iian
iianalysis, iirecommendation iior iiopinion iito iisolve iia iiproblem, iiwhere iian iiopinion iiof
iivalue iiis iia iicomponent iiof iithe iianaylsis iileading iito iithe iiassignment iiresults.
APPRAISAL iiPRACTICE ii- iiAnswers ii-valuation iiservices iiperformed iiby iian iiindividual
iiacting iias iian iiappraiser, iiincluding iibut iinot iilimited iito iiappraisal,, iiappraisal iireview, iior
iiappraisal iiconsulting.
ASSUMPTION ii- iiAnswers ii-that iiwhich iiis iitaken iito iibe iitrue
Gramm-Leach-Bliley iiAct ii(Nov ii1999) ii- iiAnswers ii-some iipublic iiagencies iihave
iiadopted iiprivacy iiregulations iithat iiaffect iiappraisers. iiAs iia iiresult, iithe iiFTC iiissued iia
iirule iifocued iion iithe iiprotection iiof ii"non-public iipersonal iiinformation" iiprovided iiby
iiconsumers iito iithose iiinvolved iiin iifinancial iiactivities.
COST ii- iiAnswers ii-the iiamount iirequired iito iicreate, iiproduce, iior iiobtain iia iiproperty
EXPOSURE iiTIME ii- iiAnswers ii-estimated iilength iiof iitime iithat iithe iiproperty iiinterest
iibeing iiappraised iiwould iihave iibeen iioffered iion iithe iimarket iiprior iito iithe iihypothetical
iiconsummation iiof iia iisale iiat iimarket iivalue iion iithe iieffective iidate iiof iithe iiappraisal
EXTRAORDINARY iiASSUMPTION ii- iiAnswers ii-an iiassumption, iidirectly iirelated iito iia
iispecific iiassignment, iias iiof iithe iieffective iidate iiof iithe iiassignment iiresults, iiwhich, iiif
iifound iito iibe iifalse, iicould iialter iithe iiappraiser's iiopinions iior iiconclusions
HYPOTHETICAL iiCONDITION ii- iiAnswers ii-a iicondition, iidirectly iirelated iito iia iispecific
iiassignment, iiwhich iiis iicontrary iito iiwhat iiis iiknown iiby iithe iiappraiser iito iiexist iion iithe
iieffective iidate iiof iithe iiassignment iiresults, iibut iiis iiused iifor iithe iipurpose iiof iianalysis.
INTENDED iiUSER ii- iiAnswers ii-the iiclient iiand iiany iiother iiparty iias iiidentified, iiby
iiname iior iitype, iias iiusers iiof iithe iiappraisal, iiappraisal iireview iior iiappraisal iiconsulting
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