USPAP MCKISSOCK TEST ANSWERS AND
QUESTIONS SET A+
✔✔Identification of the intended use of an appraisers opinions and conclusions is -
✔✔Necessary for determining the appropriate scope of work
✔✔Intended use is - ✔✔Identified by the appraiser on the basis of communication with
the client
✔✔The responsibility for determining an appropriate scope of work rests with the -
✔✔appraiser
✔✔An appraiser's report must contain ____________ to allow intended users to
understand the scope of work performed. - ✔✔Sufficient information
✔✔In reporting the scope of work in an appraisal or appraisal review report - ✔✔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: - ✔✔Have expertise and
competency in a similar type of assignment
✔✔When a law or regulation precludes compliance with any part of USPAP, appraisers
must: - ✔✔Comply with that law or regulation
✔✔What is the purpose of the jurisdictional exception rule - ✔✔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? -
✔✔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 - ✔✔No
✔✔When does a jurisdictional exception occur in an assignment? - ✔✔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? - ✔✔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? - ✔✔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? -
✔✔When the series of errors affects the credibility of the results
✔✔Exposure time is - ✔✔An opinion developed by an appraiser
✔✔What is the primary purpose of an appraiser making an inspection of the subject
property - ✔✔To collect information about characteristics that are relevant to value
✔✔An extraordinary assumption may be used in an assignment only if: - ✔✔Required to
develop credible results
✔✔When an appraiser provides a current value opinion on a proposed new building he
or she is utilizing an _______ that the proposed improvements are completed as of the
effective date of the appraisal - ✔✔Hypothetical condition
✔✔When developing a sales comparison approach under USPAP - ✔✔The appraiser
must analyze such data as are available to indicate a value conclusion
✔✔In the development of an appraisal the appraiser is required to - ✔✔Not commit a
substantial error that significantly affects the appraisal
✔✔What is the essential difference between the two reporting options - ✔✔The content
and level of information
✔✔The two written report options stated in standards rule 2-2 are - ✔✔Appraisal Report
and Restricted Appraisal Report
✔✔Which of the following is not required by USPAP to be in an appraisal report -
✔✔Client's specific name
QUESTIONS SET A+
✔✔Identification of the intended use of an appraisers opinions and conclusions is -
✔✔Necessary for determining the appropriate scope of work
✔✔Intended use is - ✔✔Identified by the appraiser on the basis of communication with
the client
✔✔The responsibility for determining an appropriate scope of work rests with the -
✔✔appraiser
✔✔An appraiser's report must contain ____________ to allow intended users to
understand the scope of work performed. - ✔✔Sufficient information
✔✔In reporting the scope of work in an appraisal or appraisal review report - ✔✔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: - ✔✔Have expertise and
competency in a similar type of assignment
✔✔When a law or regulation precludes compliance with any part of USPAP, appraisers
must: - ✔✔Comply with that law or regulation
✔✔What is the purpose of the jurisdictional exception rule - ✔✔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? -
✔✔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 - ✔✔No
✔✔When does a jurisdictional exception occur in an assignment? - ✔✔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? - ✔✔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? - ✔✔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? -
✔✔When the series of errors affects the credibility of the results
✔✔Exposure time is - ✔✔An opinion developed by an appraiser
✔✔What is the primary purpose of an appraiser making an inspection of the subject
property - ✔✔To collect information about characteristics that are relevant to value
✔✔An extraordinary assumption may be used in an assignment only if: - ✔✔Required to
develop credible results
✔✔When an appraiser provides a current value opinion on a proposed new building he
or she is utilizing an _______ that the proposed improvements are completed as of the
effective date of the appraisal - ✔✔Hypothetical condition
✔✔When developing a sales comparison approach under USPAP - ✔✔The appraiser
must analyze such data as are available to indicate a value conclusion
✔✔In the development of an appraisal the appraiser is required to - ✔✔Not commit a
substantial error that significantly affects the appraisal
✔✔What is the essential difference between the two reporting options - ✔✔The content
and level of information
✔✔The two written report options stated in standards rule 2-2 are - ✔✔Appraisal Report
and Restricted Appraisal Report
✔✔Which of the following is not required by USPAP to be in an appraisal report -
✔✔Client's specific name
