Property Valuation
A NH appraiser's 'scope of work' in an appraisal report describes:
AThe appraiser's educational background
BThe type and extent of research and analyses performed in the assignment✓ Correct
CThe client's intended use of the appraisal
DThe fee charged for the appraisal
Explanation
Under USPAP, the scope of work is the type and extent of research and analyses required to develop credible assignment results. It includes what data was collected, what was inspected, what valuation approaches were used, and what was excluded and why.
People Also Study
Related New Hampshire Questions
- An appraiser preparing a URAR (Uniform Residential Appraisal Report) for a Concord, NH single-family home is required to certify that they:Property Valuation
- A NH appraiser's USPAP obligation requires that the appraisal report be:Property Valuation
- A NH appraiser's certification that the report was prepared in compliance with USPAP is part of their obligation under:Property Valuation
- A NH appraiser's 'extraordinary assumption' in an appraisal report means the appraiser is:Property Valuation
Key Terms to Know
Appraisal
A professional estimate of a property's market value prepared by a licensed or certified appraiser.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Capitalization Rate (Cap Rate)A rate used to estimate the value of income-producing property, calculated as Net Operating Income divided by property value.
Gross Rent Multiplier (GRM)A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.
Study This Topic
Practice More New Hampshire Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New Hampshire Quiz →