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Mary is an appraiser and a real estate broker. A client asks Mary to provide a valuation service as a real estate broker. What part of USPAP must Mary adhere to?
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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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The ______ Rule sets forth the requirements for integrity, impartiality, objectivity, independent judgement and ethical content.
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What Standard (s) establish requirements for the development and communication of a personal property appraisal?
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An appraiser commits a USPAP violation and is being investigated. Who is conducting the investigation?
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What is the main purpose of USPAP?
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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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_________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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Which of the following would involve a Standard 3 review?
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Does USPAP require an appraiser to certify in the appraisal report that he or she has not been coerced to provide predetermined results?
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According the USPAP, how many years must an appraiser keep an appraisal workfile?
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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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Is it acceptable to readdress or transfer a completed appraisal report?
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Which of the following statements best describes an extraordinary assumption?
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What year was the Appraisal Practices Board (APB) created?
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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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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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True or False: USPAP is written by a government entity.
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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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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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What standard (s) establish requirements for the development and communication of a real property appraisal?
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According to USPAP, the appraiser's primary responsibility is:
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The first step in reviewing appraisal work is:
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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 interests, benefits, and rights inherent in the ownership of real estate is defined as:
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True or False: The APB has authority to enforce the requirements of USPAP.
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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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Can an appraiser make an assumption in a report on something that is known to be false?
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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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How many Standards are there in USPAP? (trick question)
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Herman has accepted an assignment from a client to review another appraisers work. What Standard in USPAP must be adhered to in regards to the review assignment?
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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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Is maintaining only electronic workfiles (PDF copies) prohibited by USPAP?
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A real estate broker preforms a BPO (Brokers Price Opinion). Does this need to conform to USPAP?
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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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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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Joe, a local real estate appraiser, is asked to perform an appraisal that will be used in a court case regarding a tax appeal. Joe is to be paid based on a percentage of tax savings gained. Which of the following is true?
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Does a "jurisdictional exception" allow an appraiser to disregard the requirements of USPAP?
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I have an assignment that involves a tract of land that is improved with two structures. However, the client has requested that I appraise the underlying land and only one of the two structures, without mentioning the other structure. Is it ethical to not disclose the presence of the second structure?
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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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What Rule mandates that an appraiser must have a workfile in existence prior to the issuance of any report is contained in which part of USPAP?
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I am currently working in an appraisal firm as a trainee. As part of my training I contribute significant real property appraisal assistance in appraisal assignments performed by other appraisers in the firm, but I do not sign the appraisal report or the certification. I understand that my name must be stated in the certification.
Must the certification include a description of my assistance?
Must the certification include a description of my assistance?
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True or False: An appraiser must obtain the necessary competency prior to accepting the assignment.
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The effective date of an appraisal can be:
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Are personal property appraisers required to comply with USPAP?
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What do USPAP Standards 9 & 10 deal with?
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I am aware of the disclosure requirements in the Conduct section of the ETHICS RULE that require me to disclose any services I performed regarding the subject property within the prior three years. If I have not performed any such services, am I required to make that disclosure as well?
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In a real property Appraisal Report, an appraiser must ____ the rationale and reasoning for the opinion highest and best use.
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True or False: An appraiser can inspect a property using a drone.
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USPAP 2016/2017
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