Study guides, Class notes & Summaries

15-Hour National USPAP Course - Mckissock With Complete Solutions 100% 202415-Hour National USPAP Course - Mckissock With Complete Solutions 100% 2024

15-HOUR NATIONAL USPAP COURSE QUESTIONS WITH CORRECT ANSWERS What are the 4 sections of USPAP? CORRECT ANSWER -preamble -definitions -rules -standards (including standards rules) Benefits of USPAP CORRECT ANSWER -provides a common basis for comparison -provides a reference source for all users of the document -provides a basis for uniform enforcement for state regulatory agencies -provides a reason for clients, other intended users, and the public to place their trust in the services p...

15-Hour National USPAP Course Written Practice Questions and Validated Answers ASC has what duty? ANSWER ensure that the government has sufficient controls in place over all real property appraisal activity to protect the federally regulated financial institutions from loss What is FFIEC (Federal Financial Institutions Examination Council)? ANSWER a formal interagency body empowered to prescribe uniform principles, standards, and report forms, and to make recommendations to promote uniformity...

USPAP 15-Hour Course with Latest Questions and Expert Answers It is not permissible for a review appraiser to use an extraordinary assumption in a review assignment. ANSWER False An appraisal review can be a _______________ assignment; an appraisal review and a value opinion by the reviewer. ANSWER 2-Stage An appraiser must develop an opinion regarding the qualifications of the appraiser whose work is under review. ANSWER False If an appraiser develops his own opinion of value, it must ...

7-Hr National USPAP Course Exam Questions and Answers 100% Pass B The ASB considers suggestions for changes to USPAP from: - Answer- Appraisers, users of appraisal services, regulators, and others You have a suggestion for a change to USPAP, and you want to tell the ASB about it. When making your suggestion, it is helpful to the ASB if you: - Answer- Explain how the proposed change will enhance public trust in appraisal practice The ASB has received numerous public comment letters in resp...

USPAP PRACTICE TEST 100% SOLVED STANDARD 2 contains standards for: a. Real property appraisal review assignments b. Development and reporting of real property appraisals c. Reporting the results of real property appraisals * d. Development of real property appraisals - Answer- Reporting the results of real property appraisals The DEFINITIONS in USPAP: a. Are superseded by definitions in standard English dictionaries b. Are all taken from legal dictionaries c. Were established by FIRREA...

National USPAP Course Exam Questions and Answers 100% Pass The Appraisal Foundation has the authority to enforce the requirements of USPAP. - Answer- False Currently, the boards within the Appraisal Foundation include: - Answer- Appraisal Standards Board, Appraisal Qualifications Board, Board of Trustees Which Foundation board is responsible for USPAP? - Answer- Appraisal Standards Board Qualification criteria for appraiser certification and recertification are disseminated to state app...

National USPAP Course Exam Questions and Answers 100% Pass Which statement is TRUE regarding The Appraisal Foundation and USPAP enforcement authority? - Answer- the appraisal foundation does not have the authority to enforce the requirements of USPAP USPAP establishes standards that are applicable to the appraisal of: - Answer- intangible property, real property, and personal property which entity is responsible for establishing education and experience requirements for licensing and cer...

National USPAP Course Exam Questions and Answers 100% Pass Which statement is TRUE regarding The Appraisal Foundation and USPAP enforcement authority? - Answer- the appraisal foundation does not have the authority to enforce the requirements of USPAP USPAP establishes standards that are applicable to the appraisal of: - Answer- intangible property, real property, and personal property which entity is responsible for establishing education and experience requirements for licensing and cer...