MCKISSOCK USPAP EXAMS PACKAGE DEAL QUESTIONS AND 100% CORRECT ANSWERS WITH VERIFIED SOLUTIONS UPDATED 2025

USPAP contains what 4 sections? - ANSWER 1) The Preamble 2) Definitions 3) Rules 4) Standards 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 clie...

The Appraisal Practices Board (ADB) - ANSWER Which independent board was created within The Appraisal Foundation in 2010? The Appraisal Foundation does not have the authority to enforce the requirements of USPAP - ANSWER Which statement is TRUE regarding The Appraisal Foundation and USPAP enforce...

grant deed - ANSWER deed containing, or having implied by law, some but not all of the usual covenants of title Appraiser - ANSWER One who is expected to perform valuation services competently and in a manner that is independent, impartial, and objective. report - ANSWER any communication, wri...

What does the ethics rule establish? - ANSWER Establishes fundamental obligations of an appraiser as part of the profession Ethics Rule - ANSWER An appraiser must promote and preserve the public trust inherent in professional appraisal practice by observing the highest standards of professional e...

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...

Which Foundation board is responsible for USPAP? - ANSWER ASB Advisory Opinions are best described as - ANSWER not part of USPAP, but included as reference material USPAP is written, amended, and interpreted by the: - ANSWER Appraisal Standards Board (ASB) Why are USPAP Advisory Opinions is...

What requirements are included in Standard 1? - ANSWER Requirements that are specific to the development of real property appraisal assignments are found in Standard 1 General statement in beginning of standard 1 - ANSWER In developing a real property appraisal, an appraiser must identify the pro...

MCKISSOCK USPAP CHAPTER 9 QUESTIONS AND ANSWERS 2025

MCKISSOCK USPAP CHAPTER 11 QUESTINS AND ANSWERS 2025

What does not include physical mobility, but rather the control and possession of all the rights of ownership? - ANSWER Purchasing Power If an appraiser is valuing real property by sales comparison, whose actions is he or she LEAST likely to consider? - ANSWER Government Agencies Which value c...

Appraisal - ANSWER "(noun) The act or process of developing an opinion of value. an opinion of value; (adjective) of or pertaining to appraising and related functions such as appraisal practice or appraisal services."1 Report - ANSWER any communication, written or oral, of an appraisal or a...

What is created in the mind of an individual or market participant? - ANSWER Value What is the motivation of an individual, group of persons, or business entity involving the purchase of an item? - ANSWER Desire As the term applies to appraisal, transferability refers to the number of goods an...

As part of your appraisal scope of work, you decided not to perform certain research or take actions that you felt inappropriate, but that may be expected by an intended user. Where would you explain that in your narrative report? - ANSWER In the scope of work When explaining the kitchen featured...

"The act of transferring an interest in property or some right (such as contract benefits) to another" is the definition of assignment novation codicil acceptance - ANSWER assignment What is the mean of the following set of gross rent multipliers? (95, 93, 120, 94, 93, 129) 93 94.5 1...