Test Your Uad Knowledge: Standardization

10 Questions | By Ellanaw | Last updated: Apr 25, 2016 | Total Attempts: 5268

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Test Your Uad Knowledge: Standardization

These questions seem elementary to any hard-working appraiser, but the UAD is changing everything -- causing many to "relearn" what they know about formfilling. Some of these answers defy common sense, so check out Fannie Mae's website for explanations. **IF YOU'RE USING WINTOTAL OR TOTAL 2011, THERE'S NO NEED TO TAKE THIS QUIZ. ** Our software guides you through the new formats seamlessly.

Questions and Answers

1.

A property with estimated year built of 1950 should be entered into the report as:
- A.
  
  Estimated 1950
- B.
  
  1950
- C.
  
  ~1950
- D.
  
  E1950
2.

A site with an area of 48561 should be represented as:
- A.
  
  1.11 ac
- B.
  
  48561 sf
- C.
  
  1.11 acres
- D.
  
  48561 sqft
3.

Real estate taxes of $1086.51 should be entered into the form as:
- A.
  
  1086
- B.
  
  1087
- C.
  
  1086.51
- D.
  
  1090
4.

If there are 3 full baths, 1 half bath and 1 quarter bath, how would that be represented?
- A.
  
  3.1.1
- B.
  
  4.25
- C.
  
  3.5
- D.
  
  3.1
5.

Dates in the appraisal PDF (unless instructed otherwise) should be listed in which format?
- A.
  
  Mm-dd-yy
- B.
  
  Mm/dd/yyyy
- C.
  
  Mm/dd/yy
- D.
  
  Yyyy-mm-dd
6.

As it pertains to UAD, a first generation PDF is a:
- A.
  
  PDF that was generated in the forms package before being delivered
- B.
  
  PDF that was generated outside of a forms package
- C.
  
  PDF generated in Adobe
- D.
  
  None of the above
7.

What forms are affected by UAD?
- A.
  
  1025, 1073, 1075, 2055
- B.
  
  1004, 2055, 2090, 2095
- C.
  
  1004, 1073, 1075, 2055
- D.
  
  1004, 1004c, 2055, 1025
8.

Which of the following is not affected by UAD?
- A.
  
  Dates
- B.
  
  Currencies
- C.
  
  Views
- D.
  
  All of the above are affected by UAD
9.

Which of the following is new information that must be provided on the appraisal forms for UAD compliance?
- A.
  
  Days on market
- B.
  
  Specifically defined condition and quality ratings
- C.
  
  Sale type for the subject and each comparable property
- D.
  
  All of the above
10.

Where is the name of the AMC involved in the appraisal assignment reported?
- A.
  
  Page 1 / Subject section: Lender/Client
- B.
  
  Page 6 / Signature section: Lender/Client
- C.
  
  Both page 1 & 6
- D.
  
  Neither page 1 or 6