15 HR National USPAP 2020-2021,
USPAP 15-Hour Course, 15-Hour USPAP
Course, Mckissock USPAP Chapter 1,
Mckissock USPAP Chapter 2
(Definitions), McKissock USPAP Chapter
4, Mckissock USPAP Chapter 7,
Mckissock USPAP Chapter 8, Mckissock
USPAP Chapter 9...
- ANS
The term is defined as "the monetary relationship between properties and those who buy,
sell, or use those properties." a) None of these
b) Price
c) Cost
d) Value - ANSd) Value
"The type and extent of research and analyses in an assignment" is the definition of
a) Report
b) Signature
c) The work's scope d) The purpose of the work (ANSc) 1. Limits the scope of work to the
extent that the value opinion is not credible.
2. Precludes an appraiser's impartiality.
3. Limits report content, resulting in a misleading report. - ANSUnacceptable assignment
condition.
10 USPAP Standards (4 and 5 are gone) - ANS1. Real Property Appraisal, Development
2. Real Property Appraisal, Reporting
3. Appraisal Review, Development and Reporting
6. Mass Appraisal, Development and Reporting
7. Evaluation and Improvement of Personal Property 8. Personal Property Appraisal,
Reporting
9. Business Appraisal, Development
10. Business Appraisal, Reporting
12. The appraisal process is broken down by USPAP into two distinct categories:
ANSDevelop and report. 2-Stage - ANSAAn appraisal review might be an assignment that
consists of an appraisal review and the reviewer's value opinion. 3 - ANSUnder STANDARD
8, a personal property appraiser has _________ different report options.
, 3 Boards of Appraisal Foundation - ANS- Board of Trustees (BOT)
- The Appraiser Qualifications Board (AQB)
- The Appraisal Standards Board (ASB)
- Appraisal Practices Board (APB)
3 years - ANSPrior to accepting an assignment, an appraiser must disclose any service he
provided regarding the subject property for a period of
Six Standard Rules: This many rules are in ANSStandard 1. A certified appraiser is
suspended by the Missouri Real Estate Appraisers Commission in July 2017. He completes
his suspension in September 2017 and is reinstated. When is the soonest that he will be
permitted to supervise a Trainee?
Immediately
November 2020 July 2020
September 2020 - ANSseptember 2020
A Certified Residential Appraiser wants to act as a Supervisory Appraiser. The appraiser
had his certificate suspended by the state two years ago, but has had no disciplinary issues
since that time. Is the appraiser qualified to be a Supervisory Appraiser?
Yes, because the appraiser is currently "in good standing"
No, because the suspension permanently disqualifies the appraiser from ever acting as a
Supervisory Appraiser
Yes, because the suspension was over one year ago
No, because the appraiser must have been "in good standing" for a period of at least three
years - ANSNo, because the appraiser must have been "in good standing" for a period of at
least three years
A prospective Certified General Appraiser is a current Certified Residential Appraiser.
According to the AQB minimum criteria, how many additional hours of appraisal education
does the appraiser need in order to qualify?
75
100
150
200 - ANS100
A current Trainee Appraiser wishes to take the examination to obtain a Licensed Residential
Appraiser credential. When can she sit for the test? Any time she wishes to take it
After she has submitted an experience log with 500 creditable experience hours
After submitting an experience log containing 1,500 hours of creditable experience, After
she completes both the education and experience requirements - ANSAfter she completes
both the education and experience requirements
A person with a valid credential as a Certified Residential Appraiser wants to move up to a
credential as a Certified General. How many additional hours of appraisal education does he
or she need in order to qualify?
100
150
175
200 - ANS100
The following are two major differences between the real estate appraisal and appraisal
review standards: a) There are no differences; the standards are interchangeable
b) The standards for appraisal appears in USPAP, while the standards for appraisal review
are included within the Advisory Opinions
c) The appraisal review standard applies only to licensed and certified appraisers
USPAP 15-Hour Course, 15-Hour USPAP
Course, Mckissock USPAP Chapter 1,
Mckissock USPAP Chapter 2
(Definitions), McKissock USPAP Chapter
4, Mckissock USPAP Chapter 7,
Mckissock USPAP Chapter 8, Mckissock
USPAP Chapter 9...
- ANS
The term is defined as "the monetary relationship between properties and those who buy,
sell, or use those properties." a) None of these
b) Price
c) Cost
d) Value - ANSd) Value
"The type and extent of research and analyses in an assignment" is the definition of
a) Report
b) Signature
c) The work's scope d) The purpose of the work (ANSc) 1. Limits the scope of work to the
extent that the value opinion is not credible.
2. Precludes an appraiser's impartiality.
3. Limits report content, resulting in a misleading report. - ANSUnacceptable assignment
condition.
10 USPAP Standards (4 and 5 are gone) - ANS1. Real Property Appraisal, Development
2. Real Property Appraisal, Reporting
3. Appraisal Review, Development and Reporting
6. Mass Appraisal, Development and Reporting
7. Evaluation and Improvement of Personal Property 8. Personal Property Appraisal,
Reporting
9. Business Appraisal, Development
10. Business Appraisal, Reporting
12. The appraisal process is broken down by USPAP into two distinct categories:
ANSDevelop and report. 2-Stage - ANSAAn appraisal review might be an assignment that
consists of an appraisal review and the reviewer's value opinion. 3 - ANSUnder STANDARD
8, a personal property appraiser has _________ different report options.
, 3 Boards of Appraisal Foundation - ANS- Board of Trustees (BOT)
- The Appraiser Qualifications Board (AQB)
- The Appraisal Standards Board (ASB)
- Appraisal Practices Board (APB)
3 years - ANSPrior to accepting an assignment, an appraiser must disclose any service he
provided regarding the subject property for a period of
Six Standard Rules: This many rules are in ANSStandard 1. A certified appraiser is
suspended by the Missouri Real Estate Appraisers Commission in July 2017. He completes
his suspension in September 2017 and is reinstated. When is the soonest that he will be
permitted to supervise a Trainee?
Immediately
November 2020 July 2020
September 2020 - ANSseptember 2020
A Certified Residential Appraiser wants to act as a Supervisory Appraiser. The appraiser
had his certificate suspended by the state two years ago, but has had no disciplinary issues
since that time. Is the appraiser qualified to be a Supervisory Appraiser?
Yes, because the appraiser is currently "in good standing"
No, because the suspension permanently disqualifies the appraiser from ever acting as a
Supervisory Appraiser
Yes, because the suspension was over one year ago
No, because the appraiser must have been "in good standing" for a period of at least three
years - ANSNo, because the appraiser must have been "in good standing" for a period of at
least three years
A prospective Certified General Appraiser is a current Certified Residential Appraiser.
According to the AQB minimum criteria, how many additional hours of appraisal education
does the appraiser need in order to qualify?
75
100
150
200 - ANS100
A current Trainee Appraiser wishes to take the examination to obtain a Licensed Residential
Appraiser credential. When can she sit for the test? Any time she wishes to take it
After she has submitted an experience log with 500 creditable experience hours
After submitting an experience log containing 1,500 hours of creditable experience, After
she completes both the education and experience requirements - ANSAfter she completes
both the education and experience requirements
A person with a valid credential as a Certified Residential Appraiser wants to move up to a
credential as a Certified General. How many additional hours of appraisal education does he
or she need in order to qualify?
100
150
175
200 - ANS100
The following are two major differences between the real estate appraisal and appraisal
review standards: a) There are no differences; the standards are interchangeable
b) The standards for appraisal appears in USPAP, while the standards for appraisal review
are included within the Advisory Opinions
c) The appraisal review standard applies only to licensed and certified appraisers
