Ch 4 Quiz The Modern Appraisal Office

Question 1

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

Answer 1

because clients are demanding good quality interior photos

Question 2

The UAD reporting protocols would apply to an appraisal of a single-family home prepared for

Answer 2

an FHA loan

Question 3

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

Answer 3

MM/DD/YYYY

Question 4

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?

Answer 4

10/15/2012

Question 5

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

Answer 5

65 and older

Question 6

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

Answer 6

C1

Question 7

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

Answer 7

Printed page

Question 8

What would be the correct way to format the date March 15, 2013 in a UAD-compliant appraisal report?

Answer 8

03/15/2013

Question 9

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

Answer 9

FALSE. In most cases, appraisers still rely on digital cameras – but the cell phones are making great strides.

Question 10

What is the most recent innovation in photography for appraisers?

Answer 10

digital cameras

Question 11

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

Answer 11

usa.gov

Question 12

As it pertains to appraisers, the abbreviation GIS stands for

Answer 12

Geographic Information Systems

Question 13

The largest appraisal software company is

Answer 13

ala mode

Question 14

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

Answer 14

TRUE

Question 15

What is the most comprehensive source for online information from the federal government?

Answer 15

usa.gov

Question 16

True or False? Printers are obsolete and are unnecessary in today’s appraisal office.

Answer 16

FALSE

Question 17

The web site with the largest amount of demographic information is

Answer 17

Census.gov

Question 18

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

Answer 18

interior measurements

Question 19

Electronic Data Interchange became popular in the

Answer 19

Late 1990s. By the late 1990s, the buzzword was Electronic Data Interchange (EDI). Entire appraisal reports, including maps, sketches, photos and digital signatures, could be sent directly to clients in a matter of minutes – and did they like that!

Question 20

The most software and applications are available for ____________ computers.

Answer 20

PC

Question 21

EDI stands for

Answer 21

Electronic Data Interchange

Question 22

____________ cameras have become an essential tool for most appraisers.

Answer 22

Digital

Question 23

Of the 247 billion emails sent worldwide every day, what percent is considered to be spam?

Answer 23

81%

Question 24

UAD compliance is required for single-family appraisal reports prepared for

Answer 24

a VA loan,
a conventional loan that is going to be sold to Fannie Mae,
an FHA loan

Question 25

What is the biggest issue when creating GIS maps?

Answer 25

the maps must all be of the same scale

Question 26

When clients began asking for faxed copies of appraisal reports

Answer 26

appraisers typically still had to mail hard copies of reports anyway

Question 27

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

Answer 27

current sales agreement

Question 28

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

Answer 28

PDF

Question 29

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

Answer 29

laser measuring device