Practice Study Test Final (USPAP)
Questions & Answers9
Which is not an element of problem identification?
-assignment conditions
-effective date of the opinions and conclusions
-client and other intended users
-reporting option to be used in the assignment - ANSWERS-Reporting option to be used in the
assignment
Most of the information necessary for the appraiser to identify the problem in a particular
assignment - ANSWERS-Requires communication with the client
What is true about appraising the same property for two clients - ANSWERS-Value opinion could
be different in each assignment
Confidential information can be disclosed to person specifically authorized by the client, state
appraisal agencies, third parties as authorized by law, or a - ANSWERS-Duly authorized
professional peer review committee
When an individual is performing valuation services outside of appraisal practice, that individual
must be careful to - ANSWERS-Not miss represent his role
According to the management session of the ethics rules, and appraiser in fixes his signature in
assignment for what purpose? - ANSWERS-Certified recognition and acceptance of USPAP
responsibilities
, When can extraordinary Assumption be used regarding information not available to the
appraiser due to assignment conditions - ANSWERS-When credible assignment results can still
be developed
Which is an element of defining the problem?
-Assignment conditions
-market analysis
-scope of work
-Data collection - ANSWERS-Assignment conditions
Which of these activities does the conduct session of the ethics rule prohibit?
-criminal conduct
-Objective opinions in appraisal practice
-valuation services outside of appraisal practice
-Appraisal consulting - ANSWERS-Criminal conduct
Which would not be considered a competency factor in a particular assignment?
-analytical method
-laws and regulations
-appraisers credentials
-intended use - ANSWERS-Appraisers credentials
The conduct session of the ethics rule requires the appraiser to disclose previous services as an
appraiser or in any capacity regarding the subject property for what period of time prior to
accepting an assignment - ANSWERS-Three years
And appraisers peer is defined as - ANSWERS-Other appraisers who have expertise and
competency in a similar type of assignment
Questions & Answers9
Which is not an element of problem identification?
-assignment conditions
-effective date of the opinions and conclusions
-client and other intended users
-reporting option to be used in the assignment - ANSWERS-Reporting option to be used in the
assignment
Most of the information necessary for the appraiser to identify the problem in a particular
assignment - ANSWERS-Requires communication with the client
What is true about appraising the same property for two clients - ANSWERS-Value opinion could
be different in each assignment
Confidential information can be disclosed to person specifically authorized by the client, state
appraisal agencies, third parties as authorized by law, or a - ANSWERS-Duly authorized
professional peer review committee
When an individual is performing valuation services outside of appraisal practice, that individual
must be careful to - ANSWERS-Not miss represent his role
According to the management session of the ethics rules, and appraiser in fixes his signature in
assignment for what purpose? - ANSWERS-Certified recognition and acceptance of USPAP
responsibilities
, When can extraordinary Assumption be used regarding information not available to the
appraiser due to assignment conditions - ANSWERS-When credible assignment results can still
be developed
Which is an element of defining the problem?
-Assignment conditions
-market analysis
-scope of work
-Data collection - ANSWERS-Assignment conditions
Which of these activities does the conduct session of the ethics rule prohibit?
-criminal conduct
-Objective opinions in appraisal practice
-valuation services outside of appraisal practice
-Appraisal consulting - ANSWERS-Criminal conduct
Which would not be considered a competency factor in a particular assignment?
-analytical method
-laws and regulations
-appraisers credentials
-intended use - ANSWERS-Appraisers credentials
The conduct session of the ethics rule requires the appraiser to disclose previous services as an
appraiser or in any capacity regarding the subject property for what period of time prior to
accepting an assignment - ANSWERS-Three years
And appraisers peer is defined as - ANSWERS-Other appraisers who have expertise and
competency in a similar type of assignment
