USPAP Final Exam

The monetary relationship between properties and those who buy, sell or use those properties" is the definition of: - correct answearsValue "The type and extent of research and analyses in an appraisal or appraisal review assignment" is the definition of ___________. - correct answearsScope of Work A preference or inclination that precludes an appraiser's impartiality, independence, or objectivity is: - correct answearsBias A real estate broker completes a Comparative Market Analysis (CMA) on a property that she wants to list for sale. What would this be considered? - correct answearsA valuation service A reviewer is performing an appraisal review on an appraisal report prepared on a residential property. The reviewer is required by USPAP to: - correct answearsIdentify whether it is necessary to develop his or her own value opinion as part of the appraisal review assignment A reviewer is preparing an appraisal review report using a pre-printed form that was created by the client. The form does not have space for all of the minimum report content requirements of USPAP. What should the reviewer do? - correct answearsSupplement the form with the required content items A reviewer is preparing an appraisal review report. The identity of the appraiser who completed the work under review was not provided by the reviewer's client. What should the reviewer do? - correct answearsState, in the appraisal review report, that the appraiser's identity was withheld by the client A reviewer is responsible for ensuring that there is __________ in a review report so that it can be properly understood by __________. - correct answearsSufficient information; intended users A reviewer is reviewing a real property appraisal and has developed her own value opinion that differed from the value opinion in the work under review. When reporting her value opinion in the appraisal review report, what must the reviewer do? - correct answearsProvide data and analysis that matches the reporting requirements for an Appraisal Report A reviewer performing an appraisal review must not sign the work under review unless he or she intends to accept the responsibility as a co-signer of the work. - correct answearsTrue A state passes a law requiring appraisers to keep their workfiles for 10 years after preparation. Is this a jurisdictional exception under USPAP? - correct answearsNo