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1. Tom recently completed an appraisal in which he used a hypothetical condition, but left that out of the appraisal report. Tom violated of USPAP

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1. Tom recently completed an appraisal in which he used a hypothetical condition, but left that out of the appraisal report. Tom violated of USPAP a. Standard 1-1(a) b. Standard 1-1(b) c. Standard 1-2(g) d. None of the above 2. According to Standard Rule 1-2, during an appraisal assignment Susan must define the intended user and client. Is this the same person or entity? a. Yes b. No 3. In a market value appraisal, all of the following are ways to define market value except: a. In terms of cash b. On a cash equivalent basis c. In relationship to a benchmark d. Through an amount of exposure time 4. Susan recently accepted an appraisal assignment where a property has been divided into five properties. She is considering adding together the five properties to get the value of original property. According to USPAP is this an approach that she can use to value the original property? a. Yes b. No c. I need more information d. None of the above 5. Tom was hired as an appraiser on a property and need to pull information about recent sales of the subject property. How far back does Tom need to pull data? a. 1 year b. 3 years c. 5 years d. 10 years

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