Under uspap - Study guides, Class notes & Summaries

45 Hour Post License Florida Exam with veried questions & 100% correct answers latest 2024 update graded A+ The __________ prohibits discrimination based on race in the purchase, sale, or lease of real property. - ANSWER>>>Civil Rights Act of 1866 Fair housing laws prohibit ______, ________, and _________. - ANSWER>>>Steering or Channeling, Blockbusting, Redlining absentee owners - ANSWER>>>owners who buy income property as investments and depend on professionals to...

Valuation process A systematic procedure used in the valuation of real property. Steps: 1: Define the problem 2:Determine scope of work 3:Gather, record, and verify the data 4:Determine the highest and best use 5:Estimate the land value 6:Estimate value by each of the three approaches (if applicable) 7:Reconcile the estimated values into the final opinion of value 8:Report the final opinion of value Client The party or parties who engage, by employment or contra...

McKissock Basic Appraisal Principles All Possible Questions and Answers 100% Solved An appraiser paid a referral fee in conjunction with an assignment. Which statement is TRUE regarding this situation, according to USPAP? The appraiser must disclose that a fee was paid, but does not have to disclose the amount paid. An appraiser finds out after completing an appraisal that the lender/client's loan did not close. What should the appraiser do regarding the appraisal fee? Charge the agr...

National USPAP Course Exam The Appraisal Foundation has the authority to enforce the requirements of USPAP. - Correct answer-False Currently, the boards within the Appraisal Foundation include: - Correct answerAppraisal Standards Board, Appraisal Qualifications Board, Board of Trustees Which Foundation board is responsible for USPAP? - Correct answer-Appraisal Standards Board Qualification criteria for appraiser certification and recertification are disseminated to state appraisal boards ...

A property owner constructs a six-car garage at a cost of $80,000. It only adds $40,000 in value to the property. What economic principle does this best demonstrate? CORRECT ANSWERS: Contribution What are the four agents of production? CORRECT ANSWERS: land, labor, capital, coordination The principle of contribution is most closely associated with: CORRECT ANSWERS: the Sales Comparison Approach (The contributory value of a given amenity is the public's perception of its actual contribu...

USPAP 15-hour course Questions and Answers 100% Pass The concept of public trust means that an appraiser must act: in the public's interest USPAP establishes standards that are applicable in the appraisal of: real property, intangible property, and personal property Which statement is TRUE regarding The Appraisal Foundation and USPAP enforcement authority? The Appraisal Foundation does not have the authority to enforce the requirements of USPAP. Which entity is responsible for establishing e...

Principles of Real Estate 2 Champion Exam With 100% Correct Answers 2024 What does D.U.S.T. stand for? - answerDemand, Utility, Scarcity, Transferability the percentage of value or sales price that a lender is willing to finance - answerLoan to Value Ratio (LTV) the value of a property is equal to the sum of the contributory value of each of its component parts. - answerprinciple of contribution the forces acting on a parcel of land are always affecting the value of the land - answerPRIN...

National USPAP Course Exam 172 Questions with Answers The Appraisal Foundation has the authority to enforce the requirements of USPAP. - CORRECT ANSWER False Currently, the boards within the Appraisal Foundation include: - CORRECT ANSWER Appraisal Standards Board, Appraisal Qualifications Board, Board of Trustees Which Foundation board is responsible for USPAP? - CORRECT ANSWER Appraisal Standards Board Qualification criteria for appraiser certification and recertification are dissem...

USPAP 15-Hour Course With Complete Solutions 2023 The Preamble states that USPAP is - Correct Answer-for appraisers and users of appraisal services. The stated purpose of USPAP - Correct Answer-Promote and maintain a high level of public trust in appraisal practice. When obligated by law or regulation an appraiser must - Correct Answer-comply with USPAP. USPAP applies to which types of properties? - Correct Answer-Tangible and Intangible Valuation services - Correct Answer-is not a subs...

1. Which Foundation board is responsible for USPAP? ANS Appraisal Standards Board (ASB) Appraisal Subcommittee (ASC) Consumer Financial Protection Bureau (CFPB) Appraiser Qualifications Board (AQB) 2. The Appraisal Foundation has the authority to enforce the requirements of USPAP. T or F ANS false The Appraisal Foundation is a private entity. The Foundation and its boards have no enforcement authority in any jurisdiction. 3. Currently, the boards within The Appraisal Foundation inclu...