EXAM PRACTICE UPDATE|EXAM
QUESTIONS WITH MULTIPLE
CHOICES |VERIFIED & REVISED
ANSWERS (NEW)!!!
WhichmcharacteristicmwouldmNOTmbemassociatedmwithmamgoodmappraiser?
A)mDiligentm
B)mBiasedm
C)mCompetent
D)mHonestm-mCORRECTmANSWERmB)mBiased
Whichmcollege-levelmcoursemwouldmprobablymbemLEASTmhelpfulmtomanmappraiser?m
A)mBiologym
B)mUrbanmplanningmandmlandmusem
C)mEnglischmcompositionm
D)mStatisticsm-mCORRECTmANSWERmA)mBiology
TruemormFalse:mAllmappraisalsmarempreformedmformmortgagemlendingmpurposes.m-
mCORRECTmANSWERmFalso
Anmappraisermismdefinedmasm"onemwhomismexpectedmtomperformmvaluationmservicesm___,mandminmam
mannermthatmismindependent,mimpartial,mandmobjective."
A)mrealistically
B)mpromptly
,C)mobedientlym
D)mcompetentlym-mCORRECTmANSWERmD)mcompetently
TruemofmFalse:mAmcoursemismsociologymwouldmprobablymnotmbembeneficialmtomanmappraiser.m-
mCORRECTmANSWERmFalse
TruemormFalse:mWhenmcompletingmanmappraisalmassignment,manmappraisermmaymbemanmadvocatemf
ormonemparty'sminterest.m-mCORRECTmANSWERmFalse
Whichmentitymismresponsiblemformestablishingmthemrequirementsmtombecomemanmappraiser?
A)mthemAQB
B)mthemASB
C)mHUD/FHA
D)mthemAPBm-mCORRECTmANSWERmA)mthemAQB
Themrequirementsmformstatemlicensedmandmcertifiedmappraisersmhadmtheremgenesisminm
A)mthemHVCC
B)mthemDoff-FrankmAct
C)mvariousmfederalmfairmhousingmlawsm
D)mFIRREAm-mCORRECTmANSWERmD)mFIRREA
Themcurrentmrequirementsmformrealmpropertymappraisermlicensingmandmcertificationmwentmintomeff
ectmon
A)mJulym1,m2011
,B)mJulym1,m2015
C)mMaym1,m2018
D)mJanuarym1,m2012m-mCORRECTmANSWERmC)mMaym1,m2018
Amcertifiedmresidentialmappraisermneedsm____mhoursmofmcontinuingmeducationmpermyearmtomrenew
mhismormhermcertificationm
A)m7
B)m14
C)m21
D)m22m-mCORRECTmANSWERmB)m14
Amlicensedmormcertifiedmappraisermmustmtakem7-hourmUSPAPmUpdatemcoursem
A)meverymyearm
B)meverym2myearsm
C)meverym3myearsm
D)monlymatmthemtimemofminitialmlicensuremormcertificationm-mCORRECTmANSWERmB)meverym2myears
TruemormFalse:mEverymstate'smappraisermcertificationmexaminationmismdifferent.m-
mCORRECTmANSWERmFalse
TruemormFalse:mAnmapplicantmformCertifiedmGneralmappraisermmustmpossessmatmleastmanmassociatesm
degreemfrommanmaccreditedmcollegemormuniversitym-mCORRECTmANSWERmFalse
AnmapplicantmwhomwishesmtomcomemamCertifiedmResidentialmappraisermmustmhavemaccumulatedmam
minimusmofm______mhoursmofmappraisalmeducationm
, A)m75
B)m120
C)m150m
D)m200m-mCORRECTmANSWERmD)m200
TruemormFalse:mAmstatemlicensedmresidentialmappraisermmaymnotmsupervisemanmappraisalmtraineem-
mCORRECTmANSWERmTrue
HowmmanymexperiencemhoursmaremrequiredmasmamprerequisitemformAppraisermTraineemclassificatio
nm
A)m500mhours
B)m2,000mhoursminmnomfewermthanm12mmonths
C)m2,500mhoursminmnomfewermthanm24mmonthsm
D)mTheremismnomprerequisitemformAppraisermTraineemclassificationm-
mCORRECTmANSWERmD)mTheremismnomprerequisitemformAppraisermTraineemclassification
Howmmanymexperiencemhoursmaremrequiredmtombecomemamcertifiedmresidentialmappraisermaccordi
ngmtomthem2018mAQBmCriteria?
A)m1,000mhoursminmnomfewermthanm12mmonths
B)m1,500mhoursminmnomfewermthanm12mmonths
C)m2,000mhoursminmnomfewermthanm24mmonths
D)m3,000mhoursmwhichmincludesm1,500mhoursminmnon-residentialmappraisalm-
mCORRECTmANSWERmB)m1,500mhoursminmnomfewermthanm12mmonths