USPAP performance standards apply to appraisal of which categories of property?

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Prepare for the McKissock Basic Appraisal Principles Test. Utilize flashcards and multiple choice questions with hints and explanations. Get ready for your appraisal exam!

Multiple Choice

USPAP performance standards apply to appraisal of which categories of property?

Explanation:
USPAP sets the rules for appraising any type of property someone values for a client. Those rules aren’t limited to real estate; they also govern appraisals of personal property and of business interests and intangible assets. Because the standards apply across all these categories, the performance standards cover real property, personal property, and business/intangible property. The other options omit one of these categories, which USPAP addresses, so they’re incomplete.

USPAP sets the rules for appraising any type of property someone values for a client. Those rules aren’t limited to real estate; they also govern appraisals of personal property and of business interests and intangible assets. Because the standards apply across all these categories, the performance standards cover real property, personal property, and business/intangible property. The other options omit one of these categories, which USPAP addresses, so they’re incomplete.

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