Exam (elaborations)
USPAP Practice Exam 2 Questions and Answers
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USPAP Practice Exam 2 Questions and Answers
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USPAP Practice Exam 2 Questions andAnswers
Prior iito iiaccepting iian iiassignment iior iientering iiinto iian iiagreement iito iiperform iiany
iiassignment, iithe iiappraiser iimust iihave iithe iiknowledge iiand iiexperience iito iicomplete
iithe iiassignment iior iithe iiappraiser iimust: ii- iiAnswers ii-- iiDisclose iithe iilack iiof
iiknowledge iiand/or iiexperience iito iithe iiclient iibefore iiaccepting iithe iiassignment ii
- iiTake iiall iisteps iinecessary iior iiappropriate iito iicomplete iithe iiassignment iicompetently
ii
- iiDescribe iithe iilack iiof iiknowledge iiand/or iiexperience iiand iithe iisteps iitaken iito
iicomplete iithe iiassignment iicompetently iiin iithe iireport
The iiappraiser iishould iiretain iihis/her iirecords iifor iian iiappraisal iifor iiat iileast: ii- iiAnswers
ii-5 iiYears
The iiact iior iiprocess iiof iideveloping iian iiopinion iiof iivalue iior iian iiopinion iiof iivalue
iideveloped iiwithout iiinvoking iithe iiDEPARTURE iiRULE iiis iiconsidered: ii- iiAnswers ii-A
iiComplete iiAppraisal
The iiact iior iiprocess iiof iideveloping iian iiopinion iiof iivalue iior iian iiopinion iiof iivalue
iideveloped iiunder iiand iiresulting iifrom iiinvoking iithe iiDEPARTURE iiRULE iiis
iiconsidered: ii- iiAnswers ii-A iiLimited iiAppraisal
Which iiof iithe iifollowing iiare iitypically iiconsidered iilegally iicompetent iito iiconclude iithat
iithere iihas iibeen iia iiviolation iiof iiUSPAP? ii- iiAnswers ii-A iistate iilicensing/certification
iiagency
Review iiappraisers iican iionly iiconclude iiand iireport iithat iithe iiappraisal iireport iiunder
iireview: ii- iiAnswers ii-- iiDoes iinot iicomply iiwith iithe iiRules, iirequirements iiand
iispecifications iiof iiUSPAP. ii
- iiContains iino iireference, iimention, iior iicoverage iiof iirequired iiinformation iior
iidocumentation. ii
-Contains iino iievidence iior iisupport iifor iianalyses, iiopinions, iior iiconclusions iicontained
iiin iithe iiappraisal iireport iiunder iireview.
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