15hr national USPAP McKissock Exam
Questions With Correct Answers
In order to determine the appropriate scope of work, the appraiser must
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________ the problem to be solved. - CORRECT ANSWER✔✔-Identify
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Appraisers have broad _________ and significant _________ in determining the
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appropriate scope of work in an assignment. - CORRECT ANSWER✔✔-Flexibility,
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responsibility
The credibility of assignment results is measured in the context of - CORRECT
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ANSWER✔✔-The intended use | |
Which Foundation board is responsible for USPAP? - CORRECT ANSWER✔✔-
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Appraisal Standards Board (ASB)
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The Appraisal Foundation has the authority to enforce the requirements of
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USPAP. - CORRECT ANSWER✔✔-False
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The first step in the appraisal process is: - CORRECT ANSWER✔✔-Identify the
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problem
In USPAP, The appraisal process is divided into two distinct types of activity:
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________ and _______. - CORRECT ANSWER✔✔-Development, reporting
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Which step in the appraisal process involves communication of the appraiser's
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opinions and conclusions? - CORRECT ANSWER✔✔-Reporting
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Which in tight city is responsible for establishing education and experience
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, requirements for licensing and certification of appraisers? - CORRECT
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ANSWER✔✔-Appraiser Qualifications Board (AQB) | | |
Qualification criteria for appraiser certification and recertification are
| | | | | | | |
disseminated to State Appraisal boards by the: - CORRECT ANSWER✔✔-Appraiser
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Qualifications Board (AQB)
| | |
Which entitles the appoints members of the AQB and ASB? - CORRECT
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ANSWER✔✔-Board of Trustees (BOT) | | |
USPAP is written, amended, and interpreted by the: - CORRECT ANSWER✔✔-
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Appraisal Standards Board (ASB)
| | |
Advisory Opinion are best described as - CORRECT ANSWER✔✔-not part of
| | | | | | | | | | |
USPAP, but included as references material
| | | | |
USPAP is enforced by: - CORRECT ANSWER✔✔-State appraiser
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licensing/certification agencies
| |
Which entity maintains the official National Registry of state certified and license
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appraisers? - CORRECT ANSWER✔✔-Appraisal Subcommittee (ASC)
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Who is responsible for issuing credentials to individual appraisers? - CORRECT
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ANSWER✔✔-State appraisal regulatory agencies | | |
Which is NOT a responsibility of the Appraisal Subcommittee (ASC)? - CORRECT
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ANSWER✔✔-Writing, interpreting, and amending USPAP | | | |
Why are USPAP Advisory Opinions issued? - CORRECT ANSWER✔✔-offer advice
| | | | | | | | |
Questions With Correct Answers
In order to determine the appropriate scope of work, the appraiser must
| | | | | | | | | | | |
________ the problem to be solved. - CORRECT ANSWER✔✔-Identify
| | | | | | | |
Appraisers have broad _________ and significant _________ in determining the
| | | | | | | | | |
appropriate scope of work in an assignment. - CORRECT ANSWER✔✔-Flexibility,
| | | | | | | | | |
responsibility
The credibility of assignment results is measured in the context of - CORRECT
| | | | | | | | | | | | |
ANSWER✔✔-The intended use | |
Which Foundation board is responsible for USPAP? - CORRECT ANSWER✔✔-
| | | | | | | | |
Appraisal Standards Board (ASB)
| | |
The Appraisal Foundation has the authority to enforce the requirements of
| | | | | | | | | | |
USPAP. - CORRECT ANSWER✔✔-False
| | |
The first step in the appraisal process is: - CORRECT ANSWER✔✔-Identify the
| | | | | | | | | | | |
problem
In USPAP, The appraisal process is divided into two distinct types of activity:
| | | | | | | | | | | | |
________ and _______. - CORRECT ANSWER✔✔-Development, reporting
| | | | | |
Which step in the appraisal process involves communication of the appraiser's
| | | | | | | | | | |
opinions and conclusions? - CORRECT ANSWER✔✔-Reporting
| | | | |
Which in tight city is responsible for establishing education and experience
| | | | | | | | | | |
, requirements for licensing and certification of appraisers? - CORRECT
| | | | | | | | |
ANSWER✔✔-Appraiser Qualifications Board (AQB) | | |
Qualification criteria for appraiser certification and recertification are
| | | | | | | |
disseminated to State Appraisal boards by the: - CORRECT ANSWER✔✔-Appraiser
| | | | | | | | |
Qualifications Board (AQB)
| | |
Which entitles the appoints members of the AQB and ASB? - CORRECT
| | | | | | | | | | | |
ANSWER✔✔-Board of Trustees (BOT) | | |
USPAP is written, amended, and interpreted by the: - CORRECT ANSWER✔✔-
| | | | | | | | | |
Appraisal Standards Board (ASB)
| | |
Advisory Opinion are best described as - CORRECT ANSWER✔✔-not part of
| | | | | | | | | | |
USPAP, but included as references material
| | | | |
USPAP is enforced by: - CORRECT ANSWER✔✔-State appraiser
| | | | | | |
licensing/certification agencies
| |
Which entity maintains the official National Registry of state certified and license
| | | | | | | | | | | |
appraisers? - CORRECT ANSWER✔✔-Appraisal Subcommittee (ASC)
| | | | |
Who is responsible for issuing credentials to individual appraisers? - CORRECT
| | | | | | | | | | |
ANSWER✔✔-State appraisal regulatory agencies | | |
Which is NOT a responsibility of the Appraisal Subcommittee (ASC)? - CORRECT
| | | | | | | | | | | |
ANSWER✔✔-Writing, interpreting, and amending USPAP | | | |
Why are USPAP Advisory Opinions issued? - CORRECT ANSWER✔✔-offer advice
| | | | | | | | |
