Term
| What is the purpose of and executive summary? |
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Definition
| Limit the ammount of techinical details while conveying the most pertinent information about the report. |
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Term
| What is the last step in the communication process before the reciever responds? |
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Definition
| Reciever translates the the information conveyed. |
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Term
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Definition
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Term
| What are reports based on original research? |
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Definition
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Term
| What is a key element in writing a summary a salient facts? |
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Definition
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Term
| What are the different report types? How are they different? |
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Definition
Self Contained- Describe
Summary- Summarize
Restricted Use- State (Includes statement warning the reader that only the intended user will comprehend the report) |
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Term
| What is the benefit of an outline? |
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Definition
| Keep thoughts in order and relevant to the topic. |
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Term
| What are the four types of reports? |
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Definition
| Formal, Research, Business, Science |
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Term
| What is the application of relevant information to the Assignment in the critical thinking process? |
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Definition
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Term
| What is the most important page in a report that makes the report official? |
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Definition
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Term
| Which standards under USPAP address reporting requirements? |
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Definition
Standards 3, 5, 6, 8, 10
pg. 3 |
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Term
| What is the last step in the appraisal process? |
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Definition
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Term
| The information that is required under the problem identification stage is known as ___________. |
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Definition
relevant characteristics
pg.5 |
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Term
| what must the appraiser identify in the first step of the appraisal process? |
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Definition
- client and other intended users
- intended use of the report and the appraiser's opinions and conclusions.
- type, definition, and source of value
- the effective date
- description and location of real estate
- property rights being valued
- relevant characteristics, along with limiting conditions or limitations of the appriasal. (scope of work)
pg 6. |
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Term
| What begins with the engagement process and is confirmed once the property is inpsected, datat is collected and verified, and, in the case of real property appraisal assignment, highest and best use is completeda and the land value is conlcuded? |
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Definition
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Term
| Four steps in the Scope of Work process? |
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Definition
Determine
Confirm
Perform
Disclose |
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Term
| What are the five steps to managing as assignment? |
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Definition
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Plan
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Organize
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Staff
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Direct
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Control
pg 7 |
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Term
| What are the four types of data? |
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Definition
Specific- relates directly to the subject
Primary- uncovered first hand
General- relates to the neighborhood or region
Secondary- seconcary source |
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Term
| Where do most appraisers (regardless of experience level) fail to correctly employ due diligence? |
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Definition
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Term
| What is final step in the development process? |
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Definition
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Term
| What determines the validity and credibility of the appraisal? |
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Definition
accuracy of the data
appropriateness of methods and techniques used
soundness of claims made and conclusions reached (supported by evidence uncovered and presented)
pg 9 |
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Term
| What is the process of determining and giving weight tot he most relevant information to support the conlcusions? |
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Definition
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Term
| Critical thought in its simplest form is ___ |
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Definition
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Term
| _____ is the process of giving the most wieght to a particular approach over another based on which is most relevant to the problem in order to conclude a final valuation decision. |
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Definition
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Term
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Definition
| Data that has been verified |
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Term
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Definition
| supportable decisions or claims |
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Term
| A good management function also includes a(n) _____ mechanism for oversight and for periodically calibrating the manner in which assignments are completed. |
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Definition
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Term
| The information that is required in teh problem identification stage. |
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Definition
| Relevant Characteristics. |
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Term
| Justification for a claim |
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Definition
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Term
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Definition
| study of effective reasoning. |
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Term
| Audience's acceptance or adherance to the claim based upon the reasons given to justify the claim. |
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Definition
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Term
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Definition
| Study of how messages influence people which focuses on the development and communication of knowledge between the speaker and the audience. |
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Definition
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