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
- 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
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