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Principles of USPAP McKissok Exam Questions and Answers
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Principles of USPAP McKissok Exam Questions and Answers
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Principles of USPAP McKissok ExamQuestions and Answers
The iiAppraisal iiPractices iiBoard ii(ADB) ii- iiAnswers ii-Which iiindependent iiboard
iiwas iicreated iiwithin iiThe iiAppraisal iiFoundation iiin ii2010?
The iiAppraisal iiFoundation iidoes iinot iihave iithe iiauthority iito iienforce iithe
iirequirements iiof iiUSPAP ii- iiAnswers ii-Which iistatement iiis iiTRUE iiregarding iiThe
iiAppraisal iiFoundation iiand iiUSPAP iienforcement iiauthority?
Board iiof iiTrustees, iiAppraisal iiPractices iiBoard, iiAppraiser iiQualifications iiBoard,
iiAppraisal iiStandards iiBoard ii- iiAnswers ii-Currently, iithe iiboards iiwithin iithe
iiAppraisal iiFoundation iiinclude:
The iiAPB iiissues iivoluntary iiguidance iion iirecognized iivaluation iimethods iiand
iitechniques. ii- iiAnswers ii-What iiis iithe iiAppraisal iiPractices iiBoard?
Not iipart iiof iiUSPAP, iibut iiincluded iias iireference iimaterial. ii- iiAnswers ii-Advisory
iiOpinions iiare iibest iidescribed iias:
Voluntary ii- iiAnswers ii-The iiguidance iiissued iiby iithe iiAppraisal iiPractices iiBoard
iiis iiconsidered:
The iiAppraisal iiStandards iiBoard ii(ASB) ii- iiAnswers ii-USPAP iiis iideveloped,
iiinterpreted, iiand iiamended iiby iithe:
Developing, iiamending, iiand iiinterpreting iiUSPAP ii- iiAnswers ii-Which iiis iiNOT iia
iiresponsibility iiof iithe iiAppraisal iiSubcommittee ii(ASC):
State iiappraisal iiregulatory iiagencies ii- iiAnswers ii-Who iiis iiresponsible iifor iiissuing
iicredentials iito iiindividual iiappraisers?
Appraisal iiSubcommittee ii(ASC) ii- iiAnswers ii-Which iientity iimaintains iithe iiofficial
iinational iiregistry iiof iistate-certified iiand iilicensed iiappraisers?
Identify iithe iiproblem ii- iiAnswers ii-The iifirst iistep iiin iithe iiappraisal iiprocess iiis:
,Reporting ii- iiAnswers ii-Which iistep iiin iithe iiappraisal iiprocess iiinvolves
iicommunication iiof iithe iiappraiser's iiopinions iiand iiconclusions?
Developing, iiReporting ii- iiAnswers ii-In iiUSPAP, iithe iiappraisal iiprocess iiis iidivided
iiinto iitwo iidistinct iitypes iiof iiactivity: ii_______ iiand ii________.
The iiAppraisal iiStandards iiBoard ii(ASB) ii- iiAnswers ii-USPAP iiis iideveloped,
iiinterpreted, iiand iiamended iiby iithe:
State iiappraiser iilicensing/certification iiagencies ii- iiAnswers ii-Under iiFIRREA,
iiUSPAP iiis iienforced iiby:
An iiadvocate ii- iiAnswers ii-An iiappraiser iiis iinot iipermitted iito iibe ii__________
iiwhen iiperforming iian iiappraisal.
Bias ii- iiAnswers ii-A iipreference iior iiinclination iithat iiprecludes iian iiappraiser's
iiimpartiality, iiindependence, iior iiobjectivity iiis:
Have iidifferent iimeanings iiwithin iiUSPAP ii- iiAnswers ii-The iiterms iiextraordinary
iiassumption iiand iihypothetical iicondition:
Hypothetical iiassumption ii- iiAnswers ii-If iian iiappraiser iiassumes iia iicondition iito
iibe iitrue iithat iidoes iinot iiexist iifor iithe iipurposes iiof iianalysis, iithis iiis iian
iiexample iiof:
Extraordinary iiassumption ii- iiAnswers ii-If iian iiappraiser iiassumes iia iicondition iito
iibe iitrue, iiand iievidence iisupports iithat iibelief, iialthough iithat iifact iiis iinot iicertain,
iithis iiis iian iiexample iiof:
Cost ii- iiAnswers ii-By iiusing iia iipublished iicost iimanual, iian iiappraiser iidetermines
iithat iithe iiconstruction iicost iiof iia ii$2,500 iisquare iifoot iidwelling iiis ii$400,000.
iiThis iifigure iirepresents iithe iidwelling's:
Value ii- iiAnswers ii-"The iimonetary iirelationship iibetween iiproperties iiand iithose
iiwho iibuy, iisell, iior iiuse iithose iiproperties" iiis iithe iidefinition iiof:
Client ii- iiAnswers ii-According iito iiUSPAP, iithe iiparty iior iiparties iiwho iiengage iiin
iia iispecific iiassignment iidefines iithe:
The iiclient iimay iiengage iithe iiappraiser iithrough iian iiagent ii- iiAnswers ii-Which iiof
iithese iistatements iiis iiTRUE iiabout iithe iiUSPAP iidefinition iiof iiclient?
The iiappraiser ii- iiAnswers ii-Who iimakes iithe iiidentification iiof iithe iiintended iiuse
iiin iian iiassignment?
, A iiparty iiwho iiis iiidentified iiby iithe iiappraiser iibased iion iicommunication iiwith iithe
iiclient iiat iithe iitime iiof iithe iiassignment. ii- iiAnswers ii-An iiintended iiuser iiis:
The iiclient iiis iialways iian iiintended iiuser ii- iiAnswers ii-Which iistatement iiabout
iiintended iiusers iiis iiTRUE?
Valuation iiservice ii- iiAnswers ii-A iireal iiestate iibroker iicompletes iia iiComparative
iiMarket iiAnalysis ii(CMA) iion iia iiproperty iithat iihe iiwants iito iilist iifor iisale. iiWhat
iiwould iithis iibe iiconsidered?
Valuation iiservices iiprovided iiby iian iiindividual iiacting iias iian iiappraiser ii-
iiAnswers ii-Appraisal iipractice iiincludes iionly:
Valuation iiservices ii- iiAnswers ii-Which iiis iithe iibroader iicategory iiof iiservices?
Standards iiRules ii- iiAnswers ii-In iiUSPAP, iieach iiStandard iiis iicomposed iiof:
Scope iiof iiwork ii- iiAnswers ii-"They iitype iiand iiextent iiof iiresearch iiand iianalyses
iiin iian iiassignment" iiis iithe iidefinition iiof ii_______.
Both iitangible iiand iiintangible iiproperty ii- iiAnswers ii-To iiwhich iiproperty iitypes
iidoes iiUSPAP iiapply?
Must ii- iiAnswers ii-When iiobligated iiby iilaw iior iiregulation, iian iiappraiser
ii________ iicomply iiwith iiUSPAP.
For iiappraisers iiand iiusers iiof iiappraisal iiservices ii- iiAnswers ii-The iiPREAMBLE
iistates iithat iiUSPAP iiis:
Promote iiand iimaintain iia iihigh iilevel iiof iipublic iitrust iiin iiappraisal iipractice ii-
iiAnswers ii-What iiis iithe iistated iipurpose iiof iiUSPAP?
Identify iithe iicapacity iiin iiwhich iihe iior iishe iiis iiperforming ii- iiAnswers ii-One iiof
iian iiappraiser's iiobligations iiwith iiregard iito iiuser iiexpectations iiis iito:
Appraisal iipractice iiis iia iisubset iiof iivaluation iiservices ii- iiAnswers ii-Which
iistatement iiis iiTRUE iiregarding iithe iirelationship iibetween iivaluation iiservices iiand
iiappraisal iipractice?
Law iior iiregulation, iiagreement iiwith iithe iiclient, iior iivoluntary iichoice iiby iithe
iiappraiser ii- iiAnswers ii-What iicould iicause iian iiappraiser iito iiprepare iian
iiappraisal iiassignment iiin iiconformance iiwith iiUSPAP?
The iiindividual iishould iistill iicomply iiwhen iihe iior iishe iiis iiacting iias iian iiappraiser
ii- iiAnswers ii-USPAP iistates iithat iiin iia iisituation iiwhen iian iiindividual iiis iinot
iirequired iiby iilaw, iiregulation, iior iiagreement iito iicomply iiwith iiUSPAP:
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