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Appraisal Trainee Questions
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Appraisal Trainee Questions
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25 Questions

1. When an appraiser provides a current value opinion on a proposed new building, he or she is utilizing a(an) _____________ that the proposed improvements are completed as of the effective date of the appraisal.

2. 'The type and extent of research and analyses in an assignment' is the definition of ___________.

3. An appraiser has appraised a property multiple times within the prior three years. He is asked by a prospective client to appraise the property again. Which statement is TRUE?

4. The PREAMBLE states that USPAP is:

5. What is the stated purpose of USPAP?

6. What is the essential difference between the two written report options?

7. The credibility of assignment results is measured in the context of:

8. The monetary relationship between properties and those who buy, sell or use those properties' is the definition of:

9. An appraiser completes an appraisal for Bank A. Two months later, he is contacted by Bank B, who asks him to 'readdress' his prior report to them. Which statement is TRUE about the appraiser's USPAP obligations?

10. An unacceptable assignment condition would be a condition that

11. An appraiser provides an oral report of a real property appraisal assignment. Which statement is CORRECT?

12. By using a published cost manual, an appraiser determines that the construction cost of a 2,500 square foot dwelling is $400,000. This figure represents the dwelling's:

13. When a law or regulation precludes compliance with any part of USPAP, appraisers must:

14. Intended use is:

15. Determining the scope of work requires:

16. Confidential information under USPAP is information the appraiser receives from:

17. When is it necessary to analyze prior listings of the subject property in a real property appraisal assignment?

18. An individual is ______________ provide valuation services that involve advocacy while acting as an appraiser.

19. The first step in the appraisal process is:

20. A written summary of an oral appraisal report must be added to the appraiser's workfile ______________ the issuance of an oral report.

21. If a client wishes to remain anonymous, the appraiser must:

22. When does a jurisdictional exception occur in an assignment?

23. 1 of 3 - Which of these is an example of a jurisdictional exception in an appraisal assignment?

24. What is the importance of stating the date of the report?

25. A real estate broker completes a Comparative Market Analysis (CMA) on a property that he wants to list for sale. What would this be considered?

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