911 Public Safety Telecommunicators Practice Exam

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Is an appraiser required to use the specific labels 'Extraordinary Assumption' or 'Hypothetical Condition' in an appraisal report?

Yes, always, in bold font No, USPAP does not mandate these specific labels Only for commercial properties Only for FHA-insured loans

Correct Answer:

No, USPAP does not mandate these specific labels

Explanation:

USPAP does not mandate the use of the labels 'extraordinary assumption' or 'hypothetical condition,' though using them may improve clarity for the intended user.

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