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Name: Homework 3

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Instructions:  

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Question 1   Multiple Choice (1 points)
  Question: In developing an appraisal of certain types of fine art, when applicable, the appraiser should consider and analyze the effect on value of
Option I. any relevant damage or imperfections.
Option II. the importance of the object(s)as compared to other items of the same type and classification, or as relating to an artist's total work, as enhancing other parts of a specific collection.
 
    I only
Option II only
Neither Option I nor Option II
Both Option I and Option II
 

 
Question 2   Multiple Choice (1 points)
  Question: Under the Uniform Standards of Professional Appraisal Practice, an appraiser is NOT required to issue which of the following statements?
 
    A statement disavowing or disclosing any personal bias of the appraiser
A statement of limiting conditions affecting the appraiser's conclusions
A statement confirming whether a personal inspection of the subject property was made
A statement about the abstract of the property and any possible clouds on the title
 

 
Question 3   Multiple Choice (1 points)
  Question: In conjunction with an appraisal assignment, the appraiser is allowed to be compensated by a fee contingent on the results if other services are also provided such as:
Option I. Brokerage
Option II. Zoning advice
 
    Option I only
Option II only
Both Option I and Option II
Neither Option I nor Option II
 

 
Question 4   Multiple Choice (1 points)
  Question: Under the Uniform Standards of Professional Appraisal Practice, if an appraiser discovers a contract pending on a comparable property, that contract should be
 
    ignored since the sale has not been concluded
ignored until the sale has been concluded
analyzed and considered as an indication of value
used only if actual comparable sales do not exist
 

 
Question 5   Multiple Choice (1 points)
  Question: In appraising a shopping center, a certified appraiser should consider any sales of the subject property which have occurred within the last
 
    one year
two years
three years
five years