Test Your Uad Knowledge: Standardization

10 Questions

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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