USPAP REVIEW CERTIFICATION
EVALUATION EXAM COMPLETE
QUESTIONS AND SOLUTIONS
⫸ Assignment results in a real property appraisal assignment would
include
All of these
The chronological age of the building
The highest and best use conclusion
The building measurements - The highest and best use conclusion
⫸ An appraiser is developing a market value appraisal. What should he
or she do with regard to the definition of value?
Consult the Book of Armaments for the applicable definition
Identify the definition of market value that is appropriate for the
assignment
,Obtain a definition of market value from an appraisal textbook; they are
all the same
Use the definition that appears in USPAP for the term "market value" -
Identify the definition of market value that is appropriate for the
assignment
⫸ In a real property appraisal assignment, assignment conditions would
NOT include:
Jurisdictional exceptions
Laws and regulations
Extraordinary assumptions
Assignment due date - Assignment due date
⫸ One who is expected to render valuation services competently and in
a manner that is independent, impartial, and objective, is the definition
of:
Individual
Appraiser
Professional
Service provider - Appraiser
,⫸ The revision to the definition of Personal Property for 2020-21 was
made for the purpose of:
Stripping the definition down to its basic core concepts
Strengthening enforceability by inserting requirements into the
definition
Including items that are developed and stored electronically
Requiring that all personal property appraisers become licensed or
certified - Including items that are developed and stored electronically
⫸ Assignment elements include all of the following except:
Type and definition of value
Client and any other intended users
Intended use of the appraiser's opinions and conclusions
Due date for report submission - Due date for report submission
, ⫸ An appraiser completes an appraisal on a property, using a current
effective date, and transmits the report to the client. The client
subsequently requests the appraiser to revise the appraisal to change the
effective date to a retrospective date. May the appraiser comply with this
request as part of the original assignment?
No, making this change would result in a biased appraisal
Yes, this is simply a change to one of the assignment elements
No, changing the effective date results in a new assignment
Yes, the appraiser may comply with any such client request as long as
the client explains why it is necessary - No, changing the effective date
results in a new assignment
⫸ An appraiser is offered an appraisal review assignment by a potential
new client. What must the appraiser do before determining the scope of
work for this assignment?
Identify the assignment elements
Submit work samples to the potential new client
EVALUATION EXAM COMPLETE
QUESTIONS AND SOLUTIONS
⫸ Assignment results in a real property appraisal assignment would
include
All of these
The chronological age of the building
The highest and best use conclusion
The building measurements - The highest and best use conclusion
⫸ An appraiser is developing a market value appraisal. What should he
or she do with regard to the definition of value?
Consult the Book of Armaments for the applicable definition
Identify the definition of market value that is appropriate for the
assignment
,Obtain a definition of market value from an appraisal textbook; they are
all the same
Use the definition that appears in USPAP for the term "market value" -
Identify the definition of market value that is appropriate for the
assignment
⫸ In a real property appraisal assignment, assignment conditions would
NOT include:
Jurisdictional exceptions
Laws and regulations
Extraordinary assumptions
Assignment due date - Assignment due date
⫸ One who is expected to render valuation services competently and in
a manner that is independent, impartial, and objective, is the definition
of:
Individual
Appraiser
Professional
Service provider - Appraiser
,⫸ The revision to the definition of Personal Property for 2020-21 was
made for the purpose of:
Stripping the definition down to its basic core concepts
Strengthening enforceability by inserting requirements into the
definition
Including items that are developed and stored electronically
Requiring that all personal property appraisers become licensed or
certified - Including items that are developed and stored electronically
⫸ Assignment elements include all of the following except:
Type and definition of value
Client and any other intended users
Intended use of the appraiser's opinions and conclusions
Due date for report submission - Due date for report submission
, ⫸ An appraiser completes an appraisal on a property, using a current
effective date, and transmits the report to the client. The client
subsequently requests the appraiser to revise the appraisal to change the
effective date to a retrospective date. May the appraiser comply with this
request as part of the original assignment?
No, making this change would result in a biased appraisal
Yes, this is simply a change to one of the assignment elements
No, changing the effective date results in a new assignment
Yes, the appraiser may comply with any such client request as long as
the client explains why it is necessary - No, changing the effective date
results in a new assignment
⫸ An appraiser is offered an appraisal review assignment by a potential
new client. What must the appraiser do before determining the scope of
work for this assignment?
Identify the assignment elements
Submit work samples to the potential new client
