PA Certified Evaluator 43 Questions And Answers
Depreciation - ️️loss in value from cost new from all causes for property having a limited economic life. (a) Loss due to wear and tear (b) Presence of features that are deficient (c) Excessive, currently undesirable (d) External factors causing loss in value Accrued Depreciation - ️️the total depreciation from all causes taken on an asset from the time of purchase to the present External Obsolescence - ️️loss in value as a result of impairment in utility and desirability caused by factors external to the property USPAP - ️️Uniform Standards of Professional Appraisal Practice Intangible Property - ️️nonphysical assets, including but not limited to franchises, trademarks, patents, copyrights. (something we can't see) Market Value - ️️A type of value, stated as an opinion, that presumes the transfer of a property. Ethics Rule: - ️️An appraiser must promote and preserve the public trust inherent in appraisal practice by observing the highest standards of professional ethics. An appraiser must: - ️️perform assignments with impartiality, objectivity, and independence, and without accommodation of personal interests.
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