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General Report Writing & Case Studies Exam Questions and Answers
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General Report Writing & Case Studies Exam Questions and Answers
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General Report Writing & Case StudiesExam Questions and Answers
Which of the following is the most thorough definition of a "narrative appraisal report"? -
Answers -A written document that identifies and supports how the appraiser developed
the opinion of value
Which of the following describes what is meant by the date of the appraisal report? -
Answers -The date the appraisal report was completed
What are the primary differences between Appraisal Reports and Restricted Appraisal
Reports? - Answers -Restricted Appraisal Reports contain much less detail and
narrative description
Which of the following is ALWAYS an intended user of an appraisal report? - Answers -
The client
Which of the following defines the intended use of an appraisal report? - Answers -the
uses of an appraiser's reported appraisal or appraisal review assignment results as
identified by the appraiser based on communication with the client at the time of
assignment
The location and surroundings section of a narrative appraisal can be an assemblage of
what three portions? - Answers -Macro Area Description, Micro Area Description, and a
Neighborhood-Vicinity Description
What must the appraiser's scope of work describe and clearly explain? - Answers -That
the scope of work was appropriate for the assignment
In an appraisal report, generally, where should you include maps, photographs, graphs,
and similar exhibits? - Answers -In the body, in the addendum, or in both places
In which section of a narrative appraisal report do appraisers usually include general
assumptions and limiting conditions? - Answers -Addendum
Which of the following should NOT be used in a well-written narrative appraisal report? -
Answers -Slang or clichés
Why should an appraiser be conscious of his or her audience when writing an appraisal
report? - Answers -Because not all of the readers of the appraisal report will be real
estate experts
,USPAP refers to an appraisal assignment as a problem to solve. What must the
appraisal report state or provide concerning the problem to be solved? - Answers -
Definition of the appraisal problem to be solved
Which of the following should be employed when writing a narrative appraisal report? -
Answers -A standardized template with a basic font type and size
If, in developing your appraisal, you excluded something you believe an intended user
may be concerned about, what should you do? - Answers -Explain why you did not
include or address an item of such potential concern
When including a quotation from a source within an appraisal report, how should it be
indicated? - Answers -By acknowledging the source either adjacent to the quote or by
the use of a footnote
USPAP refers to an appraisal assignment as a problem to solve. What must the
appraisal report state or provide concerning the problem to be solved? - Answers -
Definition of the appraisal problem to be solved
As the appraiser is usually not present when the appraisal report is delivered to the
intended users, why should it be well-written? - Answers -To reflect well upon the
appraiser and his or her competency, as well as to instill confidence in the intended
users about the appraiser's skills, professionalism, opinions, and conclusions
Which of the following is a critical aspect of creating a well-respected narrative appraisal
report? - Answers -Good writing
Which of the following should you do when you have finished writing your appraisal
report? - Answers -Place it in a professional quality binder
Which of the following would be considered personal property and not real property? -
Answers -The development's maintenance truck
Aside from complying with USPAP, why is it useful to define the appraisal problem in
the appraisal report? - Answers -Because the definition can guide the appraiser's
development of the scope of work
When we read, we retain what percentage of the information that is read? - Answers -10
Studies have shown that we retain more of what we ________ than with any other
method. - Answers -Say
STANDARD 2 of USPAP states that in appraising real property, an appraiser must
"communicate each analysis, opinion, and conclusion in a manner that is
_______________." - Answers -not misleading
,True or False: The substantive content of an appraisal report determines its compliance.
- Answers -True
The Comment to STANDARD 2 of USPAP says "The form, format, and style of a report
are functions of the needs of ____________________." - Answers -Intended users and
appraisers
According to USPAP, an appraisal report can be delivered - Answers -Either orally or
written
"My", "mine", and "yours" are examples of - Answers -Possessive pronouns
Adverbs usually modify - Answers -Verbs
"Who", "which", and "what" are examples of - Answers -Interrogative pronouns
Which of these words is NOT in singular form? - Answers -Criteria
Use the __________ voice whenever possible. - Answers -Active
The word peruse means ____________. - Answers -To read with great care
Which of the following words is a misspelling? - Answers -Seperate
Which of these sentences features an incorrect word? - Answers -I was accompanied
with the agent.
Which of the following words is NOT a proper plural? - Answers -Phenomenon
Which of these words is NOT a proper plural? - Answers -Curriculum
Which of these methods of communication did not first occur in the 1800s? - Answers -
U.S. Mail
Connecting words that show the relationships of a noun or a pronoun to some other
word in a sentence are called - Answers -Prepositions
Which of the following words is misspelled? - Answers -Unecessary
How long should a transmittal letter typically be? - Answers -One to two pages
What is the purpose of including a table of contents or index? - Answers -So the
intended user can locate information within the appraisal report easily and quickly
, What is the best type of map to use at the beginning of the appraisal report? - Answers -
The one that is the most relevant and meaningful to the intended user
Which of the following should the title page include? - Answers -The report type
Where are the appraiser's general assumptions and limiting conditions usually included
in an appraisal report? - Answers -In the addendum, but referenced elsewhere in the
report
Which of the following needs to be included in an appraiser's certification? - Answers -
That the appraiser has no bias with respect to the property that is the subject of the
appraisal report or to the parties involved with the assignment.
Which of the following statements is FALSE about USPAP requirements? - Answers -
The USPAP required items must be addressed in a particular format.
Which of the following is one of the reporting options or types of appraisals permitted by
USPAP? - Answers -Restricted Appraisal Report
Which of the following appraisal reporting options is typically the most detailed and
lengthy? - Answers -a narrative appraisal report
Which of the following items should be included in the description that identifies the
property that is the subject of the appraisal? - Answers -The size of the site and the
address of the property, including, city, borough, township, county, and state, as
appropriate
Who is responsible for researching and analyzing a three-year sales history on the
subject property? - Answers -The appraiser
What is the purpose of disclosing the appraiser's scope of work within an appraisal
report? - Answers -To provide an explanation to the client and any intended users about
what the appraiser did to solve the appraisal problem
Which of the following is the definition of a hypothetical condition? - Answers -A
condition which is contrary to what is known by the appraiser to exist on the effective
date of the assignment results, but is used for the purpose of analysis
Where does USPAP require any extraordinary assumptions or hypothetical conditions
be described within an appraisal report? - Answers -USPAP has no requirement about
the placement; it requires only that, if used, they be clearly and conspicuously disclosed
Which of the following statements should NOT appear in an appraiser's certification? -
Answers -Affirmation that the appraiser's fee was contingent upon the sale of the
property closing escrow
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