12/6/24, 2:49 PM USPAP exam |2024 UPDATE |REAL EXAM QUESTIONS AND VERIFIED ANSWERS/ACCURATE SOLUTIONS |GET IT 100…
USPAP exam |2024 UPDATE |REAL EXAM
QUESTIONS AND VERIFIED
ANSWERS/ACCURATE SOLUTIONS |GET IT 100%
CORRECT!! ALREADY GRADED A+
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Terms in this set (173)
When an appraiser uses a Clearly and conspicuously state the use of the
hypothetical condition in hypothetical condition in the report
an appraisal, USPAP
requires the appraiser to:
Which term is defined as Jurisdictional exception
an assignment condition
established by applicable
law or regulation, which
precludes an appraiser
from complying with a
part of USPAP?
https://quizlet.com/980899463/uspap-exam-2024-update-real-exam-questions-and-verified-answersaccurate-solutions-get-it-100-correct-already… 1/34
,12/6/24, 2:49 PM USPAP exam |2024 UPDATE |REAL EXAM QUESTIONS AND VERIFIED ANSWERS/ACCURATE SOLUTIONS |GET IT 100…
Which of these actions Research and selection of comparable sales
would be considered
significant appraisal
assistance when
performed by an
appraiser?
An appraiser develops a Must state the reason for excluding the income
value opinion on a approach
single-unit dwelling and
does not develop the
income approach. In the
Appraisal Report
prepared for the
assignment, the
appraiser:
According to USPAP, To gather information about the characteristics of a
what is the primary property that are relevant to its value
reason for inspecting a
property that is the
subject of an appraisal?
https://quizlet.com/980899463/uspap-exam-2024-update-real-exam-questions-and-verified-answersaccurate-solutions-get-it-100-correct-already… 2/34
,12/6/24, 2:49 PM USPAP exam |2024 UPDATE |REAL EXAM QUESTIONS AND VERIFIED ANSWERS/ACCURATE SOLUTIONS |GET IT 100…
Robert agrees to Robert should contact the client as soon as possible
appraise a split-level and explain that he lacks the knowledge and
home in a town 100 miles experience to complete the assignment
south of his office. While competently. If he feels he can obtain the required
he is not generally level of competency, and the client allows him, then
familiar with that area, Robert may proceed with the assignment.
Robert rationalizes: "I
have appraised houses
like this one for 20 years.
How hard could it be?"
When Robert pulls up to
the house, he notices the
subject is in a gated
community. Robert had
never appraised a
property in a gated
community. As Robert
inspected the interior of
the subject he noted
several items and finishes
with which he was not
familiar: marble floor
coverings; upscale, built-
in freezers; and a wine
cellar. As Robert exits the
back door, he notices the
subject property fronts
on a river. While this river
does not connect
directly with the ocean, it
does connect with a
network of streams that
do, ultimately lead to the
ocean.
Robert is quite
concerned. He has had
no experience appraising
a house with some of the
features he has seen; and
https://quizlet.com/980899463/uspap-exam-2024-update-real-exam-questions-and-verified-answersaccurate-solutions-get-it-100-correct-already… 3/34
, 12/6/24, 2:49 PM USPAP exam |2024 UPDATE |REAL EXAM QUESTIONS AND VERIFIED ANSWERS/ACCURATE SOLUTIONS |GET IT 100…
he has never appraised
wat
The SCOPE OF WORK The client and other intended users understand the
RULE states that an scope of work performed by the appraiser
appraisal or appraisal
review report must
contain sufficient
information so that:
You have reviewed the Do not sign the report, and explain that the review
appraisal of a house in a process is separate and distinct from the appraisal
suburban area that was under review
performed for an estate.
The effective date was
the date of inspection.
You note in your review
report that the proper
effective date should
have been the date of
death of the deceased,
and submit the review to
your client. Two weeks
later the client calls you.
They thank you for the
review, and note that they
cannot reach the original
appraiser. They need the
appraisal very soon, and
ask that, as part of the
review process, you alter
the appraisal report
under review to change
the effective date, and
then sign the report
certification. What should
you do?
https://quizlet.com/980899463/uspap-exam-2024-update-real-exam-questions-and-verified-answersaccurate-solutions-get-it-100-correct-already… 4/34
USPAP exam |2024 UPDATE |REAL EXAM
QUESTIONS AND VERIFIED
ANSWERS/ACCURATE SOLUTIONS |GET IT 100%
CORRECT!! ALREADY GRADED A+
Practice questions for this set
Learn
Studied 7 terms
Nice work, you're crushing it
Continue studying in Learn
Terms in this set (173)
When an appraiser uses a Clearly and conspicuously state the use of the
hypothetical condition in hypothetical condition in the report
an appraisal, USPAP
requires the appraiser to:
Which term is defined as Jurisdictional exception
an assignment condition
established by applicable
law or regulation, which
precludes an appraiser
from complying with a
part of USPAP?
https://quizlet.com/980899463/uspap-exam-2024-update-real-exam-questions-and-verified-answersaccurate-solutions-get-it-100-correct-already… 1/34
,12/6/24, 2:49 PM USPAP exam |2024 UPDATE |REAL EXAM QUESTIONS AND VERIFIED ANSWERS/ACCURATE SOLUTIONS |GET IT 100…
Which of these actions Research and selection of comparable sales
would be considered
significant appraisal
assistance when
performed by an
appraiser?
An appraiser develops a Must state the reason for excluding the income
value opinion on a approach
single-unit dwelling and
does not develop the
income approach. In the
Appraisal Report
prepared for the
assignment, the
appraiser:
According to USPAP, To gather information about the characteristics of a
what is the primary property that are relevant to its value
reason for inspecting a
property that is the
subject of an appraisal?
https://quizlet.com/980899463/uspap-exam-2024-update-real-exam-questions-and-verified-answersaccurate-solutions-get-it-100-correct-already… 2/34
,12/6/24, 2:49 PM USPAP exam |2024 UPDATE |REAL EXAM QUESTIONS AND VERIFIED ANSWERS/ACCURATE SOLUTIONS |GET IT 100…
Robert agrees to Robert should contact the client as soon as possible
appraise a split-level and explain that he lacks the knowledge and
home in a town 100 miles experience to complete the assignment
south of his office. While competently. If he feels he can obtain the required
he is not generally level of competency, and the client allows him, then
familiar with that area, Robert may proceed with the assignment.
Robert rationalizes: "I
have appraised houses
like this one for 20 years.
How hard could it be?"
When Robert pulls up to
the house, he notices the
subject is in a gated
community. Robert had
never appraised a
property in a gated
community. As Robert
inspected the interior of
the subject he noted
several items and finishes
with which he was not
familiar: marble floor
coverings; upscale, built-
in freezers; and a wine
cellar. As Robert exits the
back door, he notices the
subject property fronts
on a river. While this river
does not connect
directly with the ocean, it
does connect with a
network of streams that
do, ultimately lead to the
ocean.
Robert is quite
concerned. He has had
no experience appraising
a house with some of the
features he has seen; and
https://quizlet.com/980899463/uspap-exam-2024-update-real-exam-questions-and-verified-answersaccurate-solutions-get-it-100-correct-already… 3/34
, 12/6/24, 2:49 PM USPAP exam |2024 UPDATE |REAL EXAM QUESTIONS AND VERIFIED ANSWERS/ACCURATE SOLUTIONS |GET IT 100…
he has never appraised
wat
The SCOPE OF WORK The client and other intended users understand the
RULE states that an scope of work performed by the appraiser
appraisal or appraisal
review report must
contain sufficient
information so that:
You have reviewed the Do not sign the report, and explain that the review
appraisal of a house in a process is separate and distinct from the appraisal
suburban area that was under review
performed for an estate.
The effective date was
the date of inspection.
You note in your review
report that the proper
effective date should
have been the date of
death of the deceased,
and submit the review to
your client. Two weeks
later the client calls you.
They thank you for the
review, and note that they
cannot reach the original
appraiser. They need the
appraisal very soon, and
ask that, as part of the
review process, you alter
the appraisal report
under review to change
the effective date, and
then sign the report
certification. What should
you do?
https://quizlet.com/980899463/uspap-exam-2024-update-real-exam-questions-and-verified-answersaccurate-solutions-get-it-100-correct-already… 4/34
