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.
- 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
Correct Answer
C. ~1950Explanation
The correct answer is "~1950". This is because the estimated year built of the property is around 1950. The "~" symbol indicates an approximation or an estimate.Rate this question:
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- 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
Correct Answer
A. 1.11 acExplanation
The correct answer is 1.11 ac. This is because "ac" is the abbreviation for acres, which is a common unit of measurement for land area. Therefore, 1.11 ac is the appropriate representation for a site with an area of 48561.Rate this question:
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- 3.
Real estate taxes of $1086.51 should be entered into the form as:
- A.
1086
- B.
1087
- C.
1086.51
- D.
1090
Correct Answer
B. 1087 -
- 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
Correct Answer
D. 3.1Explanation
The representation "3.1" indicates that there are 3 full baths, 1 half bath, and 1 quarter bath. The number before the decimal point represents the number of full baths, while the number after the decimal point represents the fractional part of the bath, in this case, the half bath and the quarter bath.Rate this question:
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- 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
Correct Answer
B. Mm/dd/yyyyExplanation
The correct answer is mm/dd/yyyy. This format is commonly used in the United States and many other countries. It consists of the month, followed by the day, and then the year, all separated by slashes. This format is easy to read and understand, and it avoids any confusion between the month and day.Rate this question:
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- 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
Correct Answer
A. PDF that was generated in the forms package before being deliveredExplanation
A first generation PDF in UAD refers to a PDF that was created within a forms package before being sent or delivered. This means that the PDF was generated using specific software or tools designed for creating forms, rather than being created using a general PDF generation tool like Adobe. This distinction implies that the PDF may have certain features or formatting that are specific to the forms package used to generate it.Rate this question:
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- 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
Correct Answer
C. 1004, 1073, 1075, 2055 -
- 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
Correct Answer
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
Correct Answer
D. All of the aboveExplanation
The new information that must be provided on the appraisal forms for UAD compliance includes days on market, specifically defined condition and quality ratings, and sale type for the subject and each comparable property.Rate this question:
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- 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
Correct Answer
B. Page 6 / Signature section: Lender/ClientExplanation
The correct answer is Page 6 / Signature section: Lender/Client. This is where the name of the AMC involved in the appraisal assignment is reported.Rate this question:
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Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.
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Current Version
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Mar 17, 2023Quiz Edited by
ProProfs Editorial Team -
Jul 06, 2011Quiz Created by
Ellanaw
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