Part 5 - Scope Of Work

Question 1

4 parts of Scope of Work include:
1 - Extent of ____________
2 - Extent of _____________
3 - Type and extent of ________ researched
4 - Type and extent of ___________ applied

Answer 1

1 - identification
2 - inspection
3 - data
4 - analyses

Question 2

The extent of the S.O.W is determined by:

Answer 2

The appraiser

83

Question 3

USPAP’s definition of “credible” is

Answer 3

Worthy of belief

83

Question 4

______________ is measured in context of intended use

Answer 4

Credibility

83

Question 5

S. O. W. Is considered “Acceptable” when it meets or exceeds two criteria which are:

Answer 5

1 - Expectations of intended users for similar assignments
2 - Appraisers peers actions in similar assignment

Question 6

Other appraisers who have expertise and competency in a similar type of assignment is USPAP’s definition of

Answer 6

Peers

85

Question 7

An acceptable S. O. W. Produces:

Answer 7

Credible Assignment Results

Question 8

T/F - S. O. W. Is not an ongoing process

Answer 8

False

Question 9

Client _________ _____ limit the scope of work so much that assignment results will not be credible

Answer 9

Must not

86

Question 10

T/F - The credibility of Assignment Results is measured in the context of the intended use

Answer 10

True

91