National USPAP exam test #2!
Study online at https://quizlet.com/_e6etka
1. Which of the following establishes minimum criteria Appraiser Qualifications
for real property appraiser certification and licens- board
ing?
2. USPAP is enforced by: State regulatory agencies and
professional appraisal orga-
nizations.
3. Why are Advisory Opinions issued? To illustrate the applicability of
appraisal standards
4. Which of the following best describes a Comment to It is nonbonding guidance
a Standard Rule? material.
5. Which one of the following is an assignment condi- Extraordinary assumption
tion?
6. An appraiser has received an assignment to ap- confidential information
praise several collections where only one represen-
tative piece is available to be viewed for each col-
lection. The appraiser has been advised that the
collections are complete. The appraiser agrees to
perform the assignment. The report MUST include
the disclosure of the use of:
7. Appraisal practice is defined as: only valuation services that
include an appraisal or ap-
praisal review.
8. Credibility is judged in the context of the: competency of the appraiser.
9. Credible is defined as: deserving of trust
10. client
1/6
, National USPAP exam test #2!
Study online at https://quizlet.com/_e6etka
The party or parties who engage an appraiser in a
specific assignment defines the:
11. A tangible object that is NOT real estate is: personal property
12. Under USPAP, confidential information is informa- receives from the client and is
tion that is classified as confidential or private by law identified by the client as con-
or regulation or information the appraiser: fidential and is not available
from other sources.
13. That which is contrary to what is known by the ap- a hypothetical condition
praiser to exist on the effective date of the assign-
ment results, but is supposed for the purpose of
analysis is:
14. The purpose of USPAP is to: promote and maintain a high
level of public trust.
15. An appraiser is asked to submit an estimate of the Not appraisal practice
cost of construction for a proposed new house to a
lender. This is:
16. An appraiser agrees to prepare a market study for a A service outside of USPAP
client. The study will analyze supply and demand for
a property but will not include a value opinion. The
assignment is:
17. An appraiser must perform assignments with: impartiality, objectivity, and
independence without the ac-
commodation of personal in-
terests.
18. An appraiser has been asked to appraise a property.
If the appraiser has performed any service relating
2/6
Study online at https://quizlet.com/_e6etka
1. Which of the following establishes minimum criteria Appraiser Qualifications
for real property appraiser certification and licens- board
ing?
2. USPAP is enforced by: State regulatory agencies and
professional appraisal orga-
nizations.
3. Why are Advisory Opinions issued? To illustrate the applicability of
appraisal standards
4. Which of the following best describes a Comment to It is nonbonding guidance
a Standard Rule? material.
5. Which one of the following is an assignment condi- Extraordinary assumption
tion?
6. An appraiser has received an assignment to ap- confidential information
praise several collections where only one represen-
tative piece is available to be viewed for each col-
lection. The appraiser has been advised that the
collections are complete. The appraiser agrees to
perform the assignment. The report MUST include
the disclosure of the use of:
7. Appraisal practice is defined as: only valuation services that
include an appraisal or ap-
praisal review.
8. Credibility is judged in the context of the: competency of the appraiser.
9. Credible is defined as: deserving of trust
10. client
1/6
, National USPAP exam test #2!
Study online at https://quizlet.com/_e6etka
The party or parties who engage an appraiser in a
specific assignment defines the:
11. A tangible object that is NOT real estate is: personal property
12. Under USPAP, confidential information is informa- receives from the client and is
tion that is classified as confidential or private by law identified by the client as con-
or regulation or information the appraiser: fidential and is not available
from other sources.
13. That which is contrary to what is known by the ap- a hypothetical condition
praiser to exist on the effective date of the assign-
ment results, but is supposed for the purpose of
analysis is:
14. The purpose of USPAP is to: promote and maintain a high
level of public trust.
15. An appraiser is asked to submit an estimate of the Not appraisal practice
cost of construction for a proposed new house to a
lender. This is:
16. An appraiser agrees to prepare a market study for a A service outside of USPAP
client. The study will analyze supply and demand for
a property but will not include a value opinion. The
assignment is:
17. An appraiser must perform assignments with: impartiality, objectivity, and
independence without the ac-
commodation of personal in-
terests.
18. An appraiser has been asked to appraise a property.
If the appraiser has performed any service relating
2/6
