Property Valuation
A Wisconsin appraiser is performing an appraisal for a government agency acquisition. The appraisal must comply with:
AOnly the client's internal valuation standards
BUSPAP (Uniform Standards of Professional Appraisal Practice) and FIRREA requirements✓ Correct
COnly Wisconsin state appraiser licensing law
DThe buyer's lender requirements exclusively
Explanation
Appraisals for federally related transactions (including government agency acquisitions in many cases) must comply with USPAP and FIRREA (Financial Institutions Reform, Recovery, and Enforcement Act) requirements, as well as Wisconsin's appraisal licensing laws.
Related Wisconsin Property Valuation Questions
- The principle of regression in Wisconsin real estate valuation means:
- A Wisconsin appraiser who encounters a property with a 'super-adequacy' (e.g., a $200,000 swimming pool in a neighborhood of $150,000 homes) should recognize:
- The principle of substitution in real estate valuation states that:
- A Wisconsin appraiser's estimate of value must always reflect:
- A Wisconsin property has a going-concern value. Going-concern value differs from real property value because it includes:
- Regression in Wisconsin appraisal theory means a property's value is:
- Wisconsin's property assessment is administered at the:
- Functional obsolescence in real estate refers to:
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