USPAP MCKISSOCK CERTIFICATION
EXAM QUESTIONS AND ANSWERS
The confidentiality section of the ethics rule prohibits an appraiser from disclosing
confidential information or ______ to unauthorized parties. - Answer-Assignment results
In most cases an appraiser may share _______ from an appraisal assignment with
other appraisers without obtaining the clients consent - Answer-physical characteristics
Is an appraiser permitted by USPAP to create a workfile after transmitting the report to
the client? - Answer-No
An appraiser completes an appraisal and transmits the report to the client. The report
copy retained in the appraisers workfile does not have a significant affixed to it. Is this
permissible under USPAP? - Answer-No, a true copy must include a signature
In order to perform an assignment for which the an appraiser initially lacks the
knowledge and experience to complete competently the appraiser must - Answer-
Disclose to the client, prior to agreeing to perform the assignment, the lack of
knowledge or experience
The requirements to create and maintain a workfile for an appraisal or appraisal review
assignment applies to - Answer-All appraisers regardless of credential level
The credibility of assignment results is measured in the context of - Answer-intended
use
In order to determine the appropriate scope of work the appraiser must ________ the
problem to be solved - Answer-Identify
Appraisers have broad _________ and significant _________ in determining the
appropriate scope of work in an assignment. - Answer-Flexibility, responsibility
Identification of the intended use of an appraisers opinions and conclusions is - Answer-
Necessary for determining the appropriate scope of work
Intended use is - Answer-Identified by the appraiser on the basis of communication with
the client
The responsibility for determining an appropriate scope of work rests with the - Answer-
appraiser
, An appraiser's report must contain ____________ to allow intended users to
understand the scope of work performed. - Answer-Sufficient information
In reporting the scope of work in an appraisal or appraisal review report - Answer-The
report must contain sufficient information so that intended users understand the scope
of work
An appraiser's peers are defined as other appraisers who: - Answer-Have expertise and
competency in a similar type of assignment
When a law or regulation precludes compliance with any part of USPAP, appraisers
must: - Answer-Comply with that law or regulation
What is the purpose of the jurisdictional exception rule - Answer-To provide a saving or
severability clause to preserve the balance of USPAP
If an assignment involves a jurisdictional exception, what must an appraiser do? -
Answer-Identify the law, comply with the law, disclose in the report the part of USPAP
that is voided, and cite in the report the law that caused the jurisdictional exception
Is it permissible to use instructions from an attorney as a basis for a jurisdictional
exception - Answer-No
When does a jurisdictional exception occur in an assignment? - Answer-It is automatic
when a law precludes compliance with a part of USPAP
Which of these would be considered an example of a jurisdictional exception in an
appraisal assignment? - Answer-A probate court paying appraisers based on the value
of the subject property
An appraiser's client wishes to remain anonymous, and asks the appraiser not to
include client's identity in an appraisal report. What should the appraiser do? - Answer-
Omit the client's identity from the report but document the client's identity in the workfile
When does a series of minor errors potentially result in a USPAP violation? - Answer-
When the series of errors affects the credibility of the results
Exposure time is - Answer-An opinion developed by an appraiser
What is the primary purpose of an appraiser making an inspection of the subject
property - Answer-To collect information about characteristics that are relevant to value
An extraordinary assumption may be used in an assignment only if: - Answer-Required
to develop credible results
EXAM QUESTIONS AND ANSWERS
The confidentiality section of the ethics rule prohibits an appraiser from disclosing
confidential information or ______ to unauthorized parties. - Answer-Assignment results
In most cases an appraiser may share _______ from an appraisal assignment with
other appraisers without obtaining the clients consent - Answer-physical characteristics
Is an appraiser permitted by USPAP to create a workfile after transmitting the report to
the client? - Answer-No
An appraiser completes an appraisal and transmits the report to the client. The report
copy retained in the appraisers workfile does not have a significant affixed to it. Is this
permissible under USPAP? - Answer-No, a true copy must include a signature
In order to perform an assignment for which the an appraiser initially lacks the
knowledge and experience to complete competently the appraiser must - Answer-
Disclose to the client, prior to agreeing to perform the assignment, the lack of
knowledge or experience
The requirements to create and maintain a workfile for an appraisal or appraisal review
assignment applies to - Answer-All appraisers regardless of credential level
The credibility of assignment results is measured in the context of - Answer-intended
use
In order to determine the appropriate scope of work the appraiser must ________ the
problem to be solved - Answer-Identify
Appraisers have broad _________ and significant _________ in determining the
appropriate scope of work in an assignment. - Answer-Flexibility, responsibility
Identification of the intended use of an appraisers opinions and conclusions is - Answer-
Necessary for determining the appropriate scope of work
Intended use is - Answer-Identified by the appraiser on the basis of communication with
the client
The responsibility for determining an appropriate scope of work rests with the - Answer-
appraiser
, An appraiser's report must contain ____________ to allow intended users to
understand the scope of work performed. - Answer-Sufficient information
In reporting the scope of work in an appraisal or appraisal review report - Answer-The
report must contain sufficient information so that intended users understand the scope
of work
An appraiser's peers are defined as other appraisers who: - Answer-Have expertise and
competency in a similar type of assignment
When a law or regulation precludes compliance with any part of USPAP, appraisers
must: - Answer-Comply with that law or regulation
What is the purpose of the jurisdictional exception rule - Answer-To provide a saving or
severability clause to preserve the balance of USPAP
If an assignment involves a jurisdictional exception, what must an appraiser do? -
Answer-Identify the law, comply with the law, disclose in the report the part of USPAP
that is voided, and cite in the report the law that caused the jurisdictional exception
Is it permissible to use instructions from an attorney as a basis for a jurisdictional
exception - Answer-No
When does a jurisdictional exception occur in an assignment? - Answer-It is automatic
when a law precludes compliance with a part of USPAP
Which of these would be considered an example of a jurisdictional exception in an
appraisal assignment? - Answer-A probate court paying appraisers based on the value
of the subject property
An appraiser's client wishes to remain anonymous, and asks the appraiser not to
include client's identity in an appraisal report. What should the appraiser do? - Answer-
Omit the client's identity from the report but document the client's identity in the workfile
When does a series of minor errors potentially result in a USPAP violation? - Answer-
When the series of errors affects the credibility of the results
Exposure time is - Answer-An opinion developed by an appraiser
What is the primary purpose of an appraiser making an inspection of the subject
property - Answer-To collect information about characteristics that are relevant to value
An extraordinary assumption may be used in an assignment only if: - Answer-Required
to develop credible results
