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Basic Appraisal Principles > Chapter 4 > Flashcards

Chapter 4 Flashcards

1
Q

As it pertains to appraisers, what does the abbreviation UAD stand for?

-Universal Appraisal -Development
Unbiased Appraisal 
Development
-Unlimited Appraisal Data
-Uniform Appraisal Dataset
A

Uniform Appraisal Dataset

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2
Q

Which item needed in appraisal assignment is an appraiser LEAST likely to find by searching on the internet?

an aerial photo of the subject property

zoning information for the subject property

census tract number for the subject property

sales agreement for the subject property

A

sales agreement for the subject property

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3
Q

In a UAD-compliant appraisal report, what would be the BEST overall condition rating for the subject property?

Good
Excellent
C1
C6

A

C1

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4
Q

How are most dates in a UAD-compliant appraisal report required to be formatted?

DD-MONTH-YYYY
MM/DD/YYYY
MM/YYYY
DD/MM/YYYY

A

MM/DD/YYYY

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5
Q

When calculating the square footage of a condominium unit, an appraiser must use

  • exterior measurements
  • interior measurements
  • the metric system
A

Interior Measurements

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6
Q

Which of these would be the MOST RECENT innovation in measuring residential properties?

fiberglass tape measure
measuring wheel
laser measuring device
sonic measuring device

A

Laser Measuring device

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7
Q

What is the biggest issue when creating GIS maps?

the boundary lines of every property must be shown in red

the map will not be legal without the zoning map overlaid

the maps must all be of the same scale

the flood map must be created first

A

the maps must all be of the same scale

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8
Q

True or False? Prices of laser measuring devices have been declining over the last few years.

A

True

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9
Q

Why is it important that an appraiser be able to adjust settings and features on a camera?

so appraisers can photograph properties at night

because clients are demanding good quality interior photos

so the appraiser can obtain good photographs when flying over the property in an airplane

so appraisers can make extra money selling photographs to property owners

A

because clients are demanding good quality interior photos

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10
Q

What is the biggest issue when creating GIS maps?

  • the boundary lines of every property must be shown in red
  • the map will not be legal without the zoning map overlaid
  • the maps must all be of the same scale
  • the flood map must be created first
A

the maps must all be of the same scale

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11
Q

True or False? Cell phone cameras have replaced standard digital cameras for most appraisers.

A

False

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12
Q

True or False? There is only one company in the U.S. that produces software programs for appraisers.

A

False

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13
Q

As it pertains to appraisers, the abbreviation GIS stands for

General Income Standards
Geographic Information Systems
Global Informational Satellite
Generic International Standards

A

Geographic Information Systems

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14
Q

Today, most appraisals are transmitted in a(n) _______ format.

EDI
ACI
PDF
WIN

A

PDF

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15
Q

In a GIS mapping system, _______ of data can be turned on and off for viewing or printing.

Batches
Groups
Swaths
Layers

A

Layers

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16
Q

The fastest growing group of online users in the U.S. is people ________ years old.

10-19
20- 29
30-39
65 and older

A

65 and older

17
Q

The largest appraisal software company is

Day 1
ala mode
ACI
Homeputer

A

ala mode

18
Q

When comparing printers, make sure to compare the cost per ___________

Print cartridge
Saved page
Printed page
Line

A

Printed Page

19
Q

EDI stands for

Electronic Data Interchange
Easy Data Interchange
Electrical Data Integration
Electronic Data Internet

A

Electronic Data Interchange

20
Q

The most software and applications are available for ____________ computers.

Apple
Bluetooth
PC
Laptop

A

PC

21
Q

Electronic Data Interchange became popular in the

Late 1970s
Late 1980s
Late 1990s
Early 2000s

A

Late 1990’s

22
Q

Which can hold more data?

Floppy disk
DVD
CD
Blu-Ray

A

Blu-ray

23
Q

The subject property had a prior transfer on October 15, 2012. When reporting the date of this prior sale in a UAD-compliant appraisal report, what would be the correct way this date must be formatted?

15/10/2012
15-OCT-2012
10-15-12
10/15/2012

A

10/15/2012

24
Q

UAD compliance is required for single-family appraisal reports prepared for
a VA loan

a conventional loan that is going to be sold to Fannie Mae
an FHA loan
all of these

A

All of these

25
Q

The website that serves as a portal for almost any federal agency is

Census.gov
usa.gov
hud.gov
Gov.gov

A

usa.gov

26
Q

Which item of information for the subject property is an appraiser LEAST likely to find by searching on the internet?

aerial photo
zoning information
current sales agreement
ad valorem assessment

A

Current Sales agreement

27
Q

An example of a software system that can restore an image of your entire hard drive is

HelpUSave
Saveback
Norton Ghost
Symantec postmortem

A

Norton Ghost

28
Q

____________ cameras have become an essential tool for most appraisers.

Polaroid
Single lens
Digital
35 MM

A

Digital

29
Q

The two major sketch programs are

Apex and Winsketch
Apex and ACI
Alamode and Winsketch
Winsketch and ACI

A

Apex and Winsketch

Basic Appraisal Principles (19 decks)

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