Part 20 Flashcards
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
Valuation
20-319
An __________ is one who is expected to perform valuation services competently, and in a manner that is independent, impartial and objective
Appraiser
20-321
What is an appraisal
The act or process of developing an opinion of value; an opinion of value
20-321
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
Appraisal Review
20-321
The Scope of Work is:
The type and extent of research and analyses in an Appraisal or appraisal review assignment
20-322
The most important step, or thing to identify, of the problem identification process is:
Identifying Intended Use
20-322
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
Extraordinary assumption
20-325
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
Hypothetical condition
20-325
