USPAP Questions and Answers 100% Pass

APPRAISAL (noun) act or process of developing an opinion of value; an opinion of value (adj) of or pertaining to appraising and related functions such as an appraisal practice or appraisal services APPRAISAL CONSULTING the act or process of developing an analysis, recommendation or opinion to solve a problem, where an opinion of value is a component of the anaylsis leading to the assignment results. APPRAISAL PRACTICE valuation services performed by an individual acting as an appraiser, including but not limited to appraisal,, appraisal review, or appraisal consulting. ASSUMPTION that which is taken to be true Gramm-Leach-Bliley Act (Nov 1999) some public agencies have adopted privacy regulations that affect appraisers. As a result, the FTC issued a rule focued on the protection of "non-public personal information" provided by consumers to those involved in financial activities.