Appraisal Procedures - Mckissock Quiz Questions with perfect answers 2024

True or False: An appraiser's client must always directly engage the appraiser. correct answersFalse A step-by-step procedure that can be applied to any type of appraisal assignment is correct answersThe valuation process True or False: The effective date of the valuation must be the date on which the appraiser inspected the subject property. correct answersFalse "An assignment-specific assumption, as of the effective date, which, if found to be false, could alter the appraiser's opinions or conclusions" is the definition of correct answersextraordinary assumption In highest and best use analysis, which criterion is applied LAST? correct answersmaximally productive True or False: All three approaches to value must be used in every real property appraisal. correct answersFalse "Documentation necessary to support an appraiser's analyses, opinions, and conclusions" is the appraiser's correct answerswork file What appraisal term is defined as "The type of data and the extent of research and analyses"? correct answersScope of work According to USPAP, the credibility of assignment results is measured ______________. correct answerswithin the context of intended use An appraiser must comply with the SCOPE OF WORK RULE when completing: correct answersan appraisal assignment scope of work applies to correct answersBoth appraisals and appraisal review assignments The intended user of an appraisal is the ________ and any other user, as identified by _________. correct answersclient, name or type Which is NOT an appropriate source for a legal description? correct answerspostal address