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The ______ Rule sets forth the requirements for integrity, impartiality, objectivity, independent judgement and ethical content.
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An appraiser has used data that was over three years old in the appraisal. What USPAP Rule has been violated?
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True or False: Oral reporting DOES NOT require a signature.
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For a real property appraisal, I know that USPAP requires an appraiser to develop a reconciliation of the approaches to value that are used in an assignment. Does USPAP require the appraiser to reconcile the data utilized within each approach to value?
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How many Standards are there in USPAP? (trick question)
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If an appraiser is asked to appraise a property on which there is known, current agreement of sale, the agreement must be _____________.
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An appraiser advertises to prospective clients that if their loans do not close, they do not have to pay the appraisal fee. Which of the following is true?
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Representing the cause or interest of another, even if that cause or interest does not necessarily coincide with one's own beliefs, opinions, conclusions, or recommendations. This statement best describes what appraisal term?
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An appraiser receives a request from a homeowner to identify the highest and best use of a vacant lot they own on a major highway. This type of service is called a _________.
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Can a client ask an appraiser to alter a photograph to remove a picture of the homeowner's dog in the yard?
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What organization sets the Congressionally-authorized standards and qualifications for real estate appraisers, and provides voluntary guidance on recognized valuation methods and techniques for all valuation professionals?
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Bob contacts ABC Bank and requests a refinance on his home. Bob pays ABC Bank for the appraisal fee. ABC Bank then engages you to do the appraisal and you finish the appraisal soon after. One week passes and Bob calls you to discuss the appraisal. Is this allowed per USPAP?
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My State’s appraiser regulatory agency sent out a newsletter that says a due date is an assignment condition, and that failing to adhere is a violation of USPAP. Is this true?
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If the subject property, such as a single-family dwelling, has sold more than once in the three (3) years prior to the effective date of the appraisal, am I required to analyze all of the sales, or just the most recent sale?
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In the __________, data and analyses provided by a reviewer to support a different opinion must be consistent with the reporting standard.
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Is the following statement true or false? An appraiser can prepare a retrospective appraisal, with an effective date of value as of 10 years ago, even if that appraiser wasn't an appraiser at that time.
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Who is responsible for determining the Scope of Work on an appraisal assignment?
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True or False: The APB has authority to enforce the requirements of USPAP.
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In developing a real property appraisal, an appraiser must collect, verify and analyze all information necessary to make the client happy.
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The ___________ Rule establishes the work-file requirements for appraisal and appraisal review assignments.
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I have a client that requires my resume to be included with each appraisal report I perform for them. Does USPAP permit me to identify past clients in my resume, since it will be included in the appraisal report?
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I was recently asked to perform a real property appraisal assignment, but the
individual that contacted my firm was not the client and indicated that the client
could not be identified. Can I accept this assignment and comply with USPAP?
individual that contacted my firm was not the client and indicated that the client
could not be identified. Can I accept this assignment and comply with USPAP?
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What do USPAP Standards 9 & 10 deal with?
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A few weeks ago I performed an appraisal for a lender client. I was recently contacted by an individual who claims that she is a review appraiser that has been hired by the lender, and wanted to ask me some questions about my appraisal. Can I discuss my appraisal with her?
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In USPAP "other communiations" are:
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An appraiser commits a USPAP violation and is being investigated. Who is conducting the investigation?
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Can an appraiser make an assumption in a report on something that is known to be false?
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_________is defined as an opinion of the amount of time it might take to sell a real or personal property interest.
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Prior to accepting an assignment, an appraiser must disclose any service he provided regarding the subject property for a period of ________ years
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The party or parties who engage, by employment or contract, an appraiser in a specific
assignment is called a _____________.
assignment is called a _____________.
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Which of the following is issued by the Appraisal Standards Board for the purpose of clarifying, interpreting, explaining or elaborating the Uniform Standards of Professional Appraisal Practice.
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A month after you submit the appraisal to your client, he asks you to discount your fee because his loan did not close. Does USPAP allow this?
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Identifiable tangible objects that are considered by the general public as being "personal" for example, furnishings, artwork, machinery and equipment. This is the definition of what?
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According to USPAP, which of the following statements is considered to be Confidential Information?
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Is maintaining only electronic workfiles (PDF copies) prohibited by USPAP?
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Can a pending sale be used as a comparable if the fact that the sale is pending is disclosed in the appraisal report?
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The interests, benefits, and rights inherent in the ownership of real estate is defined as:
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When an appraiser makes a minor revision to a completed report that does not affect the value, what must he or she do with the effective date and the report date?
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Which of the following statements best describes a feasibility analysis?
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Standard 6 deals with what topic?
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True or False: Standards 4 & 5 are not applicable to any part of the appraisal process.
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In my role as an appraiser, I perform many assignments that are not appraisal or appraisal review. Does the SCOPE OF WORK RULE apply to these assignments?
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Where does funding for the Appraisal Subcommittee and The Appraisal Foundation come from?
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True or False: An appraiser can inspect a property using a drone.
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The __________________ Rule preserves the balance of USPAP if a portion is contrary to law or public policy of a jurisdiction.
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I was asked by a client to provide an opinion of the market rent for a commercial property. Is such an assignment considered an appraisal?
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According to USPAP, the appraiser's primary responsibility is:
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What standard (s) establish requirements for the development and communication of a real property appraisal?
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A client asks an appraiser to appraise a nursing home but the appraiser has never appraised a nursing home before and does not know how. Can the appraiser accept this assignment?
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The effective date of an appraisal can be:
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USPAP 2016/2017
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