Uspap business enterprise - Study guides, Class notes & Summaries

15-Hour National USPAP Exam 102 Questions with Answers What are the 4 sections of USPAP? - CORRECT ANSWER -preamble -definitions -rules -standards (including standards rules) Benefits of USPAP - CORRECT ANSWER -provides a common basis for comparison -provides a reference source for all users of the document -provides a basis for uniform enforcement for state regulatory agencies -provides a reason for clients, other intended users, and the public to place their trust in the services p...

Chapter 1: Introduction to USPAP 60 Questions with Answers To promote and maintain public trust and confidence in professional appraisal practice. - CORRECT ANSWER Why was USPAP developed? Uniform Standards of Professional Appraisal Practice - CORRECT ANSWER What does USPAP stand for? 1. Provides common basis for comparison 2. Provides a reference source 3. Provides a basis for uniform enforcement 4. Provides a reason for clients and the public to trust appraisers - CORRECT ANSWER ...

USPAP 15-hour Questions and Answers 100% Pass Appraisal The act or process of developing an opinion of value Appraisal practice Valuation services performed by an individual acting as appraiser; including but not limited appraisal and appraisal review Appraisal review The act or process of developing an opinion about the quality of another's appraisers work Appraiser One who is expected to perform valuation services competently in a manner that is INDEPENDENT IMPARTIAL & OBJECTIVE Appraiser...

USPAP 15-hour Exam 64 Questions and Answers Appraisal - CORRECT ANSWER The act or process of developing an opinion of value Appraisal practice - CORRECT ANSWER Valuation services performed by an individual acting as appraiser; including but not limited appraisal and appraisal review Appraisal review - CORRECT ANSWER The act or process of developing an opinion about the quality of another's appraisers work Appraiser - CORRECT ANSWER One who is expected to perform valuation services c...

USPAP Exam 138 Questions with Answer 2023 value - CORRECT ANSWER The monetary relationship between properties and those who buy, sell, or use those properties. TAF - CORRECT ANSWER The Appraisal foundation AQB - CORRECT ANSWER appraisal qualifications board APB - CORRECT ANSWER Appraisal practice board Price - CORRECT ANSWER The amount asked, offered, or paid for a property Credible - CORRECT ANSWER worthy of belief cost - CORRECT ANSWER the amount required to create, produce, or obtain...

Technical skills - Answer Skills that include time management, preparing Cmas, and completing contracts. Desk cost - Answer Dividing total office expenses by number of sales associates Institutional advertising - Answer Advertising that describes the firm, its personnel, and its services. Fixed expense - Answer Occupancy costs are an example of what type of expenses? Cash basis accounting - Answer What is the most simple type of accounting and is used by most small business taxpayers...

USPAP 15-hour Appraisal - ANSThe act or process of developing an opinion of value Appraisal practice - ANSValuation services performed by an individual acting as appraiser; including but not limited appraisal and appraisal review Appraisal review - ANSThe act or process of developing an opinion about the quality of another's appraisers work Appraiser - ANSOne who is expected to perform valuation services competently in a manner that is INDEPENDENT IMPARTIAL & OBJECTIVE Appraisers p...

USPAP Standards Exam Questions with Answers STANDARD 1: REAL PROPERTY APPRAISAL, DEVELOPMENT - CORRECT ANSWER In developing a real property appraisal, an appraiser must identify the problem to be solved, determine the scope of work necessary to solve the problem, and correctly complete research and analyses necessary to produce a credible appraisal. STANDARD 2: REAL PROPERTY APPRAISAL, REPORTING - CORRECT ANSWER In reporting the results of a real property appraisal, an appraiser must commu...

USPAP 15-hour questions and answers latest 2023Appraisal The act or process of developing an opinion of value Appraisal practice Valuation services performed by an individual acting as appraiser; including but not limited appraisal and appraisal review Appraisal review The act or process of developing an opinion about the quality of another's appraisers work Appraiser One who is expected to perform valuation services competently in a manner that is INDEPENDENT IMPARTIAL...

Who is responsible for ensuring that the Closing Disclosure is delivered to the consumer? A.The creditor B.The loan processor C.The consumer D. The CFPB - ANSWER A. the creditor Which law restricts the sharing of information given when a consumer applies for a mortgage loan? A. Fair Credit Reporting Act B. FTC Disposal Rules C. Gramm-Leach-Bliley Act D. Consumer Regulatory Protection Act - ANSWER C. Gramm-Leach-Bliley Act Which document actually contains the borrower's pro...