Appraisal rev - Study guides, Class notes & Summaries

While performing an appraisal review for a loan underwriting department, you need to contact the appraiser to discuss some issues. Which statement below is correct? You need to be diplomatic in your communications with the appraiser. You need to teach the appraiser the proper methodologies where he or she has erred. You need to send the appraiser a letter detailing the required changes and let him or her know you will withhold payment of fees until they are corrected. You should not personal...

What did review appraiser Larry Anderson mean when he said that a review appraiser needed to have a split personality? correct answers The review appraiser has to be both a technician and a diplomat What is the primary function of the appraisal reviewer? correct answers Form an opinion regarding the adequacy and appropriateness of the appraisal report The scope of work of an appraisal review assignment can involve: correct answers Checking the mathematical accuracy Determining regulatory ...

Which of the following conditions is a review appraiser NOT permitted to accept in an appraisal review assignment? Requiring an effective date of value different than the effective date in the appraisal under review Reviewing an appraisal of a property in a state in which the reviewer is not currently licensed An attorney wants to use the review to assist in formatting questions to attack the appraisal in cross-examination of the appraiser Requiring the use of a highly improbable hypothetica...

While performing an appraisal review for a loan underwriting department, you need to contact the appraiser to discuss some issues. Which statement below is correct? correct answers You need to be diplomatic in your communications with the appraiser. What are the two kinds of review appraiser positions described in the course materials? correct answers Staff review appraisers and fee review appraisers Complete the following statement taken from The Appraisal of Real Estate, 13th edition: "...

The scope of work of an appraisal review assignment can involve: A. Checking the mathematical accuracy B. Determining regulatory compliance C. Developing an opinion of value D. All of the above - Answer- D In the case study, you were presented with a review assignment in a state in which you are not licensed. Which of the following statements is true regarding this assignment? A. You are unable to accept a review assignment on a property located in a state where you are not licensed ...

NCE Exam: Appraisal Revised Answers |Graded A+| A test battery *Ans* also known as a horizontal test (which measures various factors during the same testing procedure); Used because several measures are used to produce results that can be more accurate than those from a single source. Appraisal *Ans* The process of assessing or estimating attributes (Can include surveys, observations, or clinical interviews) Test *Ans* An instrument which measures a given sample of behavior (Also ...

Amortization paying off a loan in equal installments; loan where the principal as well as the interest is payable in monthly or other periodic installments over the term of the loan. Discount Points A fee charged by the lender at settlement that results in increasing the lender's effective yield on the money borrowed. One discount point equals one percent of the loan amount. linear measurement measurement made on a line. The linear measure of a 4-foot square is 16 feet Loan Discou...

NATIONAL USPAP COURSE FINAL EXAM QUESTIONS AND CORRECT ANSWERS NEWEST UPDATE 2024 ALREADLY GRADED A+ When performing an appraisal review, a reviewer finds information that was available to the original appraiser, but the original appraiser did not consider it when developing the appraisal under review. Does USPAP permit the reviewer to use this information in developing an opinion of the quality of the work under review?  Yes

Texas Property Tax Consultant Exam Review Q & A Rated 100% Correct!!

2020-2021 15-hr National USPAP Course(updated) Questions with complete solution 2020-2021 15-hr National USPAP Course Who is responsible for issuing credentials to individual appraisers? - correct answer State appraiser regulatory agencies are responsible for receiving and processing applications for licensure and certification, and for issuing credentials to qualified individuals. Which is NOT a responsibility of the Appraisal Subcommittee (ASC)? - correct answer USPAP is written, int...