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The ______ Rule sets forth the requirements for integrity, impartiality, objectivity, independent judgement and ethical content.
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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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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 the __________, data and analyses provided by a reviewer to support a different opinion must be consistent with the reporting standard.
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The ASB changed the definition of assignment results to specify that physical characteristics are not assignment results. Does this mean that physical characteristics are not confidential?
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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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Which of the following statements best describes an extraordinary assumption?
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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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When an appraiser is preparing for any service that is not an appraisal or an appraisal review, he or she must _________ and insert a certification statement in the 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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According to USPAP, the appraiser's primary responsibility is:
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Is it true that Advisory Opinions are not part of USPAP?
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Is maintaining only electronic workfiles (PDF copies) prohibited by USPAP?
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According the USPAP, how many years must an appraiser keep an appraisal workfile?
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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 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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USPAP is developed by _________.
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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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When performing a market value appraisal on an improved property, an appraiser develops an opinion of highest and best use, exposure time, site value, and indicated values by the Sales Comparison Approach and Cost Approaches, as well as a final value opinion. Which of the following are considered Assignment Results?
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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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True or False: The APB has authority to enforce the requirements of USPAP.
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Where does the Appraisal Standards Board get funding to operate?
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Which of the following is an example of a hypothetical condition?
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Who is responsible for determining the Scope of Work on an appraisal assignment?
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Standard 6 deals with what topic?
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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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I am completing a market value appraisal. I use standard pre-printed residential report forms that ask for a neighborhood marketing time. Does marketing time on these forms mean the same thing as exposure time as it is used in USPAP?
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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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What year was the Appraisal Practices Board (APB) created?
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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 the estimated length of time that the property interest being appraised would have been offered on the market prior to the hypothetical consummation of a sale at market value on the effective date of the appraisal.
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True or False: An appraiser must obtain the necessary competency prior to accepting the assignment.
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Which of the following is NOT one of the three words used to identify the level of details required in a report under USPAP?
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Which of the following statements best describes a feasibility analysis?
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True or False: An appraiser can inspect a property using a drone.
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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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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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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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True or False: Oral reporting DOES NOT require a signature.
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_______ has complete authority over the development of USPAP within The Appraisal Foundation.
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Where does funding for the Appraisal Subcommittee and The Appraisal Foundation come from?
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Which of the examples below an example of "substantial error of omission?"
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Is turnaround time an assignment condition?
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Which statement is true regarding an appraisers obligation to disclose prior services performed on properties previously used as comparables?
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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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What is the main purpose of USPAP?
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I have been asked by a client to prepare a Restricted Appraisal Report that he plans to provide to another intended user. Does USPAP allow me to use this report option in such a circumstance?
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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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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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Which of the following statements best describes a hypothetical condition?
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USPAP 2016/2017
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