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Mckissock USPAP Chapter 8 Exam
Questions and Answers 100% Pass
Standard 2 States... - ANS In reporting the results of a real property appraisal, an appraiser
must communicate each analysis, opinion, and conclusion in a manner that is not misleading.
Report - ANS Any communication, written or oral, of an appraisal or appraisal review that is
transmitted to the client upon completion of an assignment.
What does standard 2 do? - ANS STANDARD 2 sets forth minimum content requirements for
written and oral real property appraisal reports.
Standard Rule Reporting requirements - ANS Each written or oral real property appraisal
report must:
(a) clearly and accurately set forth the appraisal in a manner that will not be misleading;
(b) contain sufficient information to enable the intended users of the appraisal to understand
the report properly; and
(c) clearly and accurately disclose all assumptions, extraordinary assumptions, hypothetical
conditions, and limiting conditions used in the assignment
Sufficient information Requirement - ANS The appraiser is not required to include sufficient
information so that anyone other than intended users can understand the report.
©FYNDLAY 1
Mckissock USPAP Chapter 8 Exam
Questions and Answers 100% Pass
Standard 2 States... - ANS In reporting the results of a real property appraisal, an appraiser
must communicate each analysis, opinion, and conclusion in a manner that is not misleading.
Report - ANS Any communication, written or oral, of an appraisal or appraisal review that is
transmitted to the client upon completion of an assignment.
What does standard 2 do? - ANS STANDARD 2 sets forth minimum content requirements for
written and oral real property appraisal reports.
Standard Rule Reporting requirements - ANS Each written or oral real property appraisal
report must:
(a) clearly and accurately set forth the appraisal in a manner that will not be misleading;
(b) contain sufficient information to enable the intended users of the appraisal to understand
the report properly; and
(c) clearly and accurately disclose all assumptions, extraordinary assumptions, hypothetical
conditions, and limiting conditions used in the assignment
Sufficient information Requirement - ANS The appraiser is not required to include sufficient
information so that anyone other than intended users can understand the report.
©FYNDLAY 1
