Part 20 Flashcards

1
Q

A __________ service is a service pertaining to an aspect of property value, regardless of the type of service and whether it is performed by appraisers or by others

A

Valuation

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2
Q

An __________ is one who is expected to perform valuation services competently, and in a manner that is independent, impartial and objective

A

Appraiser

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3
Q

What is an appraisal

A

The act or process of developing an opinion of value; an opinion of value

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4
Q

An __________ review is the act or process of developing an opinion about the quality of another appraisers work, that was performed as part of an appraisal or appraisal review assignment

A

Appraisal Review

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5
Q

The Scope of Work is:

A

The type and extent of research and analyses in an Appraisal or appraisal review assignment

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6
Q

The most important step, or thing to identify, of the problem identification process is:

A

Identifying Intended Use

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7
Q

An assignment-specific assumption as of the effective date regarding uncertain information used in an analysis which, if found to be false, could alter the appraiser’s opinions or conclusions is an _________________ assumption

A

Extraordinary assumption

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8
Q

A ___________ ___________ is a condition directly related to a specific assignment, which is contrary to what is known by the appraiser to exist on the effective date of the assignment results, but is used for the purpose of analysis

A

Hypothetical condition

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