USPAP Questions and Answers Latest 2023 Graded A

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The appraiser could accept the assignment (as a new assignment) ✔✔as long as proper disclosure is made regarding the prior assignment & any confidential in formation is handled appropriately. ... in a deed being used in a purchase transaction, who is the grantee? ✔✔The party receiving title - "purchaser" is known as the grantee. Any services provided by an appraiser, other than an appraisal or appraisal review, would be appraisal practice w/ no applicable standards. this includes recommendations that occur as a result of an appraisal or appraisal review. ✔✔For those services, the scope of work rule & the record keeping rule do not apply. When an appraiser arrives for his inspection of residential property, the property owner gives the appraiser an appraisal report previously performed by another appraiser. in light of uspap, what should the appraiser do? ✔✔Make certain that information relied upon in the other appraiser's report is not in error or fraudulent. USPAP requires the appraiser to analyze market conditions as part of: ✔✔The development process. An appraiser completed an appraisal report yesterday & today he is going to provided his client with the report. the appraiser needs to make a couple of minor revisions before hand. for this appraisal report. he must ✔✔change the date on the report & the certification to the date revisions. all are part of the ethics rule except ✔✔Confidential information can never be disclosed. when valuing a life estate for a potential sales transaction of that particular interest, what must the appraiser do? ✔✔Project future value at the termination of the life estate & discount to present value. if a jurisdictional exception has been justifiably applied in an assignment, what else must be included in the appraisal report? ✔✔Disclosure of the part(S) of uspap that was disregarded [Show More]

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