15 hr national USPAP course Test
A reviewer is responsible for ensuring that there is __________ in a
review report so that it can be properly understood by __________. -
Correct Answer ✔ ✔ Sufficient information; intended users
A reviewer is preparing an appraisal review report using a pre-printed
form that was created by the client. The form does not have space for
all of the minimum report content requirements of USPAP. What
should the reviewer do? - Correct Answer ✔ ✔ Supplement the
form with the required content items
A reviewer is reviewing a real property appraisal and has developed
her own value opinion that differed from the value opinion in the
work under review. When reporting her value opinion in the appraisal
review report, what must the reviewer do? - Correct Answer ✔ ✔
Provide data and analysis that matches the reporting requirements
for an Appraisal Report
,As part of an appraisal review assignment, a reviewer develops his
own opinion of value that differs from the original appraiser's value
opinion. How many certifications does USPAP require in the appraisal
review report for this assignment? - Correct Answer ✔ ✔ One
Is a reviewer permitted by USPAP to use information that was not
available to the original appraiser to discredit the work under review?
- Correct Answer ✔ ✔ No
A reviewer is preparing an appraisal review report. The identity of the
appraiser who completed the work under review was not provided by
the reviewer's client. What should the reviewer do? - Correct Answer
✔ ✔ State, in the appraisal review report, that the appraiser's
identity was withheld by the client
A reviewer performing an appraisal review must not sign the work
under review unless he or she intends to accept the responsibility as a
co-signer of the work. - Correct Answer ✔ ✔ True
,If a reviewer provides an oral report of an appraisal review - Correct
Answer ✔ ✔ a signed certification must be inserted into the
workfile
If an appraiser is asked to develop an opinion of the quality of another
appraiser's work and to agree or disagree with the value conclusion -
Correct Answer ✔ ✔ this is a two-stage assignment
If an appraiser is asked to develop an opinion of the quality of another
appraiser's work and to agree or disagree with the value conclusion -
Correct Answer ✔ ✔ this is a two-stage assignment
Which of these examples indicates that a reviewer DID NOT develop
his own opinion of value in an appraisal review assignment? - Correct
Answer ✔ ✔ I reject the value conclusion as lacking credibility
due to the errors and inconsistencies found.
STANDARD 5 is most similar in structure to: - Correct Answer ✔ ✔
STANDARD 1
, STANDARD 5, Mass Appraisal, Development, applies to: - Correct
Answer ✔ ✔ Both real and personal property
An appraiser is engaged by her local county assessment board to
complete an appraisal on an apartment building for ad valorem
taxation purposes. Which USPAP STANDARD(S) apply to this
assignment? - Correct Answer ✔ ✔ STANDARDS 1 and 2
Notifications sent to property owners of the results of a mass
appraisal, which may be required by public policy, are considered: -
Correct Answer ✔ ✔ Notifications, and not reports
In a written mass appraisal report prepared under STANDARD 6, what
is the purpose of a signed certification? - Correct Answer ✔ ✔ It
serves as an appraiser's acknowledgement of his or her ethical
obligations
A reviewer is responsible for ensuring that there is __________ in a
review report so that it can be properly understood by __________. -
Correct Answer ✔ ✔ Sufficient information; intended users
A reviewer is preparing an appraisal review report using a pre-printed
form that was created by the client. The form does not have space for
all of the minimum report content requirements of USPAP. What
should the reviewer do? - Correct Answer ✔ ✔ Supplement the
form with the required content items
A reviewer is reviewing a real property appraisal and has developed
her own value opinion that differed from the value opinion in the
work under review. When reporting her value opinion in the appraisal
review report, what must the reviewer do? - Correct Answer ✔ ✔
Provide data and analysis that matches the reporting requirements
for an Appraisal Report
,As part of an appraisal review assignment, a reviewer develops his
own opinion of value that differs from the original appraiser's value
opinion. How many certifications does USPAP require in the appraisal
review report for this assignment? - Correct Answer ✔ ✔ One
Is a reviewer permitted by USPAP to use information that was not
available to the original appraiser to discredit the work under review?
- Correct Answer ✔ ✔ No
A reviewer is preparing an appraisal review report. The identity of the
appraiser who completed the work under review was not provided by
the reviewer's client. What should the reviewer do? - Correct Answer
✔ ✔ State, in the appraisal review report, that the appraiser's
identity was withheld by the client
A reviewer performing an appraisal review must not sign the work
under review unless he or she intends to accept the responsibility as a
co-signer of the work. - Correct Answer ✔ ✔ True
,If a reviewer provides an oral report of an appraisal review - Correct
Answer ✔ ✔ a signed certification must be inserted into the
workfile
If an appraiser is asked to develop an opinion of the quality of another
appraiser's work and to agree or disagree with the value conclusion -
Correct Answer ✔ ✔ this is a two-stage assignment
If an appraiser is asked to develop an opinion of the quality of another
appraiser's work and to agree or disagree with the value conclusion -
Correct Answer ✔ ✔ this is a two-stage assignment
Which of these examples indicates that a reviewer DID NOT develop
his own opinion of value in an appraisal review assignment? - Correct
Answer ✔ ✔ I reject the value conclusion as lacking credibility
due to the errors and inconsistencies found.
STANDARD 5 is most similar in structure to: - Correct Answer ✔ ✔
STANDARD 1
, STANDARD 5, Mass Appraisal, Development, applies to: - Correct
Answer ✔ ✔ Both real and personal property
An appraiser is engaged by her local county assessment board to
complete an appraisal on an apartment building for ad valorem
taxation purposes. Which USPAP STANDARD(S) apply to this
assignment? - Correct Answer ✔ ✔ STANDARDS 1 and 2
Notifications sent to property owners of the results of a mass
appraisal, which may be required by public policy, are considered: -
Correct Answer ✔ ✔ Notifications, and not reports
In a written mass appraisal report prepared under STANDARD 6, what
is the purpose of a signed certification? - Correct Answer ✔ ✔ It
serves as an appraiser's acknowledgement of his or her ethical
obligations
