USPAP McKissock Questions and Answers
Verified by Experts
Who is responsible for making the identification of the intended user in an assignment
The appraiser
Appraisal practice includes only: Valuation services provided by an individual acting as
an appraiser
A real estate broker completes a comparative market analysis on a property that she wants to list
for sale. What would this be considered? A valuation service
A workfile must be maintained for: Appraisal and appraisal review assignments only
The type and extent of research and analysis in an appraisal review assignment is the definition
of Scope of work
An appraiser must disclose any services he or she provided regarding the subject property for a
period of a _____ prior to agreeing to perform the assignment Three years
, In a real property appraisal assignment prepared for a mortgage lender an appraiser is permitted
by USPAP to base his compensation for an appraisal assignment on Whether or not the
report is transmitted to the client by the due date
The confidentiality section of the ethics rule prohibits an appraiser from disclosing confidential
information or ______ to unauthorized parties. Assignment results
In most cases an appraiser may share _______ from an appraisal assignment with other
appraisers without obtaining the clients consent physical characteristics
Is an appraiser permitted by USPAP to create a workfile after transmitting the report to the
client? 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? No, a true copy must include a signature
Verified by Experts
Who is responsible for making the identification of the intended user in an assignment
The appraiser
Appraisal practice includes only: Valuation services provided by an individual acting as
an appraiser
A real estate broker completes a comparative market analysis on a property that she wants to list
for sale. What would this be considered? A valuation service
A workfile must be maintained for: Appraisal and appraisal review assignments only
The type and extent of research and analysis in an appraisal review assignment is the definition
of Scope of work
An appraiser must disclose any services he or she provided regarding the subject property for a
period of a _____ prior to agreeing to perform the assignment Three years
, In a real property appraisal assignment prepared for a mortgage lender an appraiser is permitted
by USPAP to base his compensation for an appraisal assignment on Whether or not the
report is transmitted to the client by the due date
The confidentiality section of the ethics rule prohibits an appraiser from disclosing confidential
information or ______ to unauthorized parties. Assignment results
In most cases an appraiser may share _______ from an appraisal assignment with other
appraisers without obtaining the clients consent physical characteristics
Is an appraiser permitted by USPAP to create a workfile after transmitting the report to the
client? 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? No, a true copy must include a signature
