Mckissock USPAP
Chapter 8 fully solved
& verified for
accuracy(latest
updated version)
Standard 2 States... - answer In reporting the results of a
real property appraisal, an appraiser must communicate
each analysis, opinion, and conclusion in a manner that is
not misleading.
Report - answer Any communication, written or oral, of an
appraisal or appraisal review that is transmitted to the
client upon completion of an assignment.
What does standard 2 do? - answer STANDARD 2 sets forth
minimum content requirements for written and oral real
property appraisal reports.
Standard Rule Reporting requirements - answer Each
written or oral real property appraisal report must:
, (a) clearly and accurately set forth the appraisal in a
manner that will not be misleading;
(b) contain sufficient information to enable the intended
users of the appraisal to understand the report properly;
and
(c) clearly and accurately disclose all assumptions,
extraordinary assumptions, hypothetical conditions, and
limiting conditions used in the assignment
Sufficient information Requirement - answer The appraiser
is not required to include sufficient information so that
anyone other than intended users can understand the
report.
Standard Rule 2-2 - answer Each written real property
appraisal report must be prepared under one of the
following options and prominently state which option is
used: Appraisal Report or Restricted Appraisal Report.
Two real property reporting options defined in USPAP -
answer -Appraisal Report
-Restricted Appraisal Report
What is the difference between an appraisal report and a
restricted appraisal report? - answer The level of detail
Chapter 8 fully solved
& verified for
accuracy(latest
updated version)
Standard 2 States... - answer In reporting the results of a
real property appraisal, an appraiser must communicate
each analysis, opinion, and conclusion in a manner that is
not misleading.
Report - answer Any communication, written or oral, of an
appraisal or appraisal review that is transmitted to the
client upon completion of an assignment.
What does standard 2 do? - answer STANDARD 2 sets forth
minimum content requirements for written and oral real
property appraisal reports.
Standard Rule Reporting requirements - answer Each
written or oral real property appraisal report must:
, (a) clearly and accurately set forth the appraisal in a
manner that will not be misleading;
(b) contain sufficient information to enable the intended
users of the appraisal to understand the report properly;
and
(c) clearly and accurately disclose all assumptions,
extraordinary assumptions, hypothetical conditions, and
limiting conditions used in the assignment
Sufficient information Requirement - answer The appraiser
is not required to include sufficient information so that
anyone other than intended users can understand the
report.
Standard Rule 2-2 - answer Each written real property
appraisal report must be prepared under one of the
following options and prominently state which option is
used: Appraisal Report or Restricted Appraisal Report.
Two real property reporting options defined in USPAP -
answer -Appraisal Report
-Restricted Appraisal Report
What is the difference between an appraisal report and a
restricted appraisal report? - answer The level of detail
