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General Report Writing & Case Studies Ch 6 & 7 Exam Questions with correct Answers
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General Report Writing & Case Studies Ch 6 & 7 Exam
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General Report Writing & Case StudiesCh 6 & 7 Exam
Which of the following should you include in your summary of the methods, techniques,
and analyses you used to generate the final opinion of value? - Answers -A general
summary of the three approaches to value
When explaining the analytical process, why do you need to provide only general
summaries of the three approaches in this section of the appraisal report? - Answers -
You simply want to provide the intended user with preliminary education about the three
approaches appraisers use to develop an opinion of value
When writing your summary of the appraisal process, which of the following would you
NOT include? - Answers -Your final opinion of value
Why is it a good idea to begin the explanation of your analytical process by reiterating
the purpose and intended use of the appraisal? - Answers -Because they are the
reasons that the appraisal is being performed, and reiterating them will support the
explanations of the analytical portions of the appraisal that follow
When a market value opinion is being developed, which of the following statements is
true? - Answers -You must state and identify the exact definition of value being provided
and cite the source.
Why should you place your summary of the methods, techniques and analyses you
used to generate your opinion of value after the description of the site, building(s) and
improvements, and before your analysis of the first approach to value that you
employed? - Answers -Doing so provides a logical transition between these two
sections of the report.
What is the purpose of summarizing the methods, techniques, and analyses you use to
generate your final opinion of value? - Answers -To provide the intended user with an
understanding of the information analyzed, the appraisal methods and techniques
employed, and the reasoning that supports the analyses, opinions and conclusions in
the appraisal report, as well as to comply with USPAP
If an experienced appraiser is familiar with a particular definition of market value used
by a particular client, does she need to cite the source of the definition in the narrative
report? - Answers -Yes, USPAP requires appraisers to cite the source of the definition
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