MCKISSOCK USPAP DEFINATIONS CHAPTER 2 EXAM REVIEW QUESTIONS AND ANSWERS
7 views 0 purchase
Course
MCKISSOCK USPAP DEFINATIONS
Institution
MCKISSOCK USPAP DEFINATIONS
MCKISSOCK USPAP DEFINATIONS CHAPTER 2 EXAM REVIEW QUESTIONS AND ANSWERS
Workfile - Answer-Documentation necessary to support an appraiser's analysis, opinions, and conclusions.
Valuation Services - Answer-Services pertaining to aspects of property value
Appraisal Practice - Answer-Valuation ...
MCKISSOCK USPAP DEFINATIONS
CHAPTER 2 EXAM REVIEW
QUESTIONS AND ANSWERS
Workfile - Answer-Documentation necessary to support an appraiser's analysis,
opinions, and conclusions.
Valuation Services - Answer-Services pertaining to aspects of property value
Appraisal Practice - Answer-Valuation services performed by an individual acting as an
appraiser, including but not limited to appraisal and appraisal review.
Appraisal Practice is a subset of... - Answer-Valuation Services
Appraisal - Answer-The act or process of developing an opinion of value, an opinion of
value
Appraisal Review - Answer-The act or process of developing and communication an
opinion about the quality of another appraiser's work that was performed as part of an
appraisal or appraisal review assignment.
Scope of work - Answer-The type and extent of research and analyses in an appraisal
or appraisal review assignment
Requirements for an appraisal or appraisal review - Answer-- Identify the problem to be
solved
- Determine and perform the scope of work necessary to develop credible assignment
results, for the intended use
- Disclose the scope of work performed in the report
Market Value - Answer-USPAP does not define a specific definitions, but rather the
components of the term market value
There are a number of definitions of market value, each is unique. USPAP does not
endorse any specific definition.
Advocacy - Answer-Representing the cause or interest of another, even if that cause or
interest does not necessarily coincide with one's own beliefs, opinions, conclusions, or
recommendations
Impartiality - Answer-Conveys a mental state that does not favor one side over another
at the outset of an investigation
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Perfectscorer. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.29. You're not tied to anything after your purchase.