CNA102 – USPAP 2020-2021 – *Final Exam*

Typically an appraiser in Canada must be a member of an appraisal association to:

When completing appraisal assignments, members of CNAREA must abide by:

When completing an Appraisal Review assignment, the appraiser must comply with USPAP:

Which one of the following is not part of the appraisal process?

A CNAREA member must comply with the USPAP when:

Real property and real estate are the same.

To be in compliance with the USPAP, an appraiser must:

All Extraordinary Assumptions and Hypothetical Conditions must be:

The fee charged by an appraiser for any appraisal assignment:

It is ethical for an appraiser to report a value opinion to only:

The minimum amount of time an appraiser must retain appraisal work files is:

If an appraiser wishes to accept an assignment which would require appraisal knowledge and experience beyond what the appraiser presently possess, that appraiser must:

An appraiser may omit one of the three valuation approaches when:

Content of a Real Property Appraisal Report can be found in:

Standard #1 of the USPAP applies to:

An appraiser must consider, analyze, and report all sales of the subject property that have occurred within ____ of the effective date of the appraisal?

When developing a Market Value opinion of real property appraisal an appraiser must:

The two types of written real property appraisal reports are:

When developing a real property appraisal an appraiser must:

The act or process of developing an opinion of value is:

According to the USPAP, how many types of written appraisal reports apply to real property?

Lack of experience allows an appraiser to:

A true copy of an appraisal report can be a photocopy:

An appraiser can advertise or solicit appraisal assignments in any way.

There are only two types of appraisal reports, full and drive by.

All appraisal reports must identify the subject property and the type of value being considered.

A real property appraiser never has to consider personal property when developing an appraisal report.

An appraisal report should always include consideration for the seller’s opinion of value.

The estimation of some kind of value is always the purpose of an appraisal.

The national origins of the residents is always an important part of a real property appraisal and should always be taken under consideration.

In developing a real property appraisal the purpose of the report is to provide mortgage financing.

An appraiser must always consider the highest and best use of the property being appraised.

The scope of work describes the type and extent of research and analysis undertaken by the appraiser.

Standard #1 of the USPAP requires an appraisal report to include a statement of the purpose of the appraisal.

An appraiser can be contracted for an appraisal assignment by anyone.

Inspection of a property is an appraisal problem that AO#3 references.

It is not necessary for an appraiser to physically view the property being appraised.

The appraiser is always the advocate of their client.

The USPAP allows for the redirection of an appraisal report to a different client.

An appraiser can appraise proposed improvements but only as an extraordinary assumption.

Does adding an intended user require the request to be treated as a new assignment?

When providing a written report of a real property appraisal the appraiser must:

An appraiser has a request to appraise a property. If the appraiser has performed an appraisal of the property 2-1/2 years ago, the appraiser must:

In a Market Value Opinion appraisal assignment, who is responsible for the selection of the reporting format?

Standard #4 of the USPAP covers:

When reporting the result of an appraisal, the appraiser must comply with USPAP:

An appraiser must report any potential interest in the property being appraised.

Appraisal reports can be transferred from one client to another if:

A Restricted Appraisal Report must, at a minimum:

All appraisal reports must contain at least: