USPAP McKissock
A preference or inclination that precludes an appraiser's impartiality, independence, or
objectivity is: - ANSbias
A real estate broker completes a comparative market analysis on a property that she wants
to list for sale. What would this be considered? - ANSA valuation service
A reviewer's job is to make sure that a review report contains __________ so that
__________ can understand it. - ANSEnough information; intended users A valuation
service that is premised upon advocacy: - ANSIt cannot be performed by an individual acting
as an appraiser
A workfile must be maintained for: - ANSAppraisal and appraisal review assignments only
According to USPAP, any appraiser who signs any part of an appraisal report is required to -
ANSsign a certification
According to USPAP, the party or parties who engage an appraiser in a specific assignment
defines the: - ANSclient
The best way to describe advisory opinions is as ANS, which are not part of USPAP but
serve as reference material. ANSa-signed certification must be included in all written
appraisal reports. An appraisal review report - ANSmust be separate from the work under
review
An appraiser completes an appraisal and transmits the report to the client. The report copy
retained in the appraisers workfile does not have a significant affixed to it. Is this allowed
under USPAP? - ANS No, a signed true copy is required. An appraiser is preparing a
restricted appraisal report in a situation where there are intended users in addition to the
client. Which statement about this situation is true? ANSThese additional intended users
need to be named in the report. An appraiser must disclose any services he or she provided
regarding the subject property for a period of a _____ prior to agreeing to perform the
assignment - ANSThree years
An appraiser performs an appraisal assignment and develops an opinion of value. This
value opinion is - ANSan assignment result
A copy of a signed sales agreement for an office building with the agreed-upon amount of
$950,000 is given to an appraiser. What does this figure represent? - ANSprice
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? - ANSOmit the client's
identity from the report but document the client's identity in the workfile
An appraiser's peers are defined as other appraisers who: - ANSHave expertise and
competency in a similar type of assignment
An appraiser's report must contain ____________ to allow intended users to understand the
scope of work performed. - ANSSufficient information
An extraordinary assumption may be used in an assignment only if: - ANSRequired to
develop credible results
An intended user is: - ANSA party who is identified by the appraiser based on
communication with the client at the time of the assignment
Appraisal practice includes only: - ANSValuation services provided by an individual acting
as an appraiser
A preference or inclination that precludes an appraiser's impartiality, independence, or
objectivity is: - ANSbias
A real estate broker completes a comparative market analysis on a property that she wants
to list for sale. What would this be considered? - ANSA valuation service
A reviewer's job is to make sure that a review report contains __________ so that
__________ can understand it. - ANSEnough information; intended users A valuation
service that is premised upon advocacy: - ANSIt cannot be performed by an individual acting
as an appraiser
A workfile must be maintained for: - ANSAppraisal and appraisal review assignments only
According to USPAP, any appraiser who signs any part of an appraisal report is required to -
ANSsign a certification
According to USPAP, the party or parties who engage an appraiser in a specific assignment
defines the: - ANSclient
The best way to describe advisory opinions is as ANS, which are not part of USPAP but
serve as reference material. ANSa-signed certification must be included in all written
appraisal reports. An appraisal review report - ANSmust be separate from the work under
review
An appraiser completes an appraisal and transmits the report to the client. The report copy
retained in the appraisers workfile does not have a significant affixed to it. Is this allowed
under USPAP? - ANS No, a signed true copy is required. An appraiser is preparing a
restricted appraisal report in a situation where there are intended users in addition to the
client. Which statement about this situation is true? ANSThese additional intended users
need to be named in the report. An appraiser must disclose any services he or she provided
regarding the subject property for a period of a _____ prior to agreeing to perform the
assignment - ANSThree years
An appraiser performs an appraisal assignment and develops an opinion of value. This
value opinion is - ANSan assignment result
A copy of a signed sales agreement for an office building with the agreed-upon amount of
$950,000 is given to an appraiser. What does this figure represent? - ANSprice
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? - ANSOmit the client's
identity from the report but document the client's identity in the workfile
An appraiser's peers are defined as other appraisers who: - ANSHave expertise and
competency in a similar type of assignment
An appraiser's report must contain ____________ to allow intended users to understand the
scope of work performed. - ANSSufficient information
An extraordinary assumption may be used in an assignment only if: - ANSRequired to
develop credible results
An intended user is: - ANSA party who is identified by the appraiser based on
communication with the client at the time of the assignment
Appraisal practice includes only: - ANSValuation services provided by an individual acting
as an appraiser
