Ch. 7 TX Jurisdictional Requirements for Supervisory Appraiser and

Ch. 7 TX Jurisdictional Requirements for Supervisory Appraiser and Trainee Appraiser Flashcards In Texas, who has the power to amend the Texas Appraiser Licensing and Certification Act?A. The governorB. The Texas Appraiser Licensing and Certification BoardC. The state legislatureD. The Appraisal Subcommittee

• The state legislature

To receive approval as a Trainee Appraiser in Texas, an applicant must complete how many hours of basic appraisal education?A. 75B. 125C. 150D. 200

• 75

The Texas appraiser license law requires TALCB to adopt qualifications for licensure and certification that are

consistent with the requirements of:A. Fannie Mae and

Freddie MacB. The Appraiser Qualifications BoardC.Contiguous statesD. The U.S. Department of Housing and Urban Development

• The Appraiser Qualifications Board

What happens if a Trainee Appraiser allows his or her approval to expire?A. A violation of USPAP has occurredB.The Trainee's authorization to perform appraisals has been terminatedC. The Trainee is now solely responsible for the value conclusion and the report contentD. The Trainee may only perform appraisals for non-mortgage lending use

• The Trainee's authorization to perform appraisals has

been terminated A Trainee Appraiser completes his education but not his experience and he wants to take the exam to become a Certified General Appraiser. Which statement is TRUE regarding this situation?A. The applicant may take the exam now, and then complete his experience requirement later.B. The applicant may not take the exam because he has not completed the experience requirement.C. The applicant should have taken the exam at the time he received his approval to become a Trainee.D. The applicant must first pass the Certified Residential exam before taking the Certified General exam.

• The applicant may not take the exam because he has

not completed the experience requirement.Under the Texas appraiser license law, who is required to establish license and certification categories for appraises?A. The Bureau of Consumer Financial Protection (CFPB)B. Texas Appraiser Licensing and Certification Board (TALCB)C. The Office of the GovernorD. The Appraisal Practices Board (APB)

• Texas Appraiser Licensing and Certification Board

(TALCB)

If an approved Trainee Appraiser signs a report, he or she

must include his or her TALCB approval number and:A.

The ASC National Registry numberB. The word

"Trainee"C. A positive statement of competencyD. A copy of a current Errors and Omissions insurance declaration page

• The word "Trainee"

A trainee appraiser and a sponsoring appraiser work together on an appraisal assignment. Under Texas law,

who is REQUIRED to sign the appraisal report?A. The appraiser traineeB. The sponsorC. Both the appraiser trainee and the sponsor jointlyD. Either the appraiser trainee or the sponsor, but not both

• The sponsor

The law that created licensing and certification for

appraisers in Texas is commonly referred to as:A.

Proposition 11B. Dodd-Frank Wall Street Reform and Consumer Financial Protection ActC. Texas Appraiser Licensing and Certification ActD. Fair Housing Act of 1988

• Texas Appraiser Licensing and Certification Act

An applicant for an appraiser credential in Texas has failed the licensing exam three times. What happens now?A. The applicant must wait one full year before taking the exam againB. The applicant should go to another state that has an easier exam and take the exam thereC. The applicant is permanently barred from receiving an appraisal credential in TexasD. The applicant must take additional qualifying education before taking the exam again

• The applicant must take additional qualifying education

before taking the exam again In Texas, who may act as a sponsor for an approved Appraiser Trainee?A. A Certified Residential Appraiser onlyB. A Certified General Appraiser onlyC. A Certified General or Certified Residential Appraiser onlyD. Any licensed or certified appraiser in good standing

• A Certified General or Certified Residential Appraiser

only Which of these is NOT specifically stated in the Texas licensing law as a power or duty of TALCB?A. Maintain a roster of licensed or certified appraisersB. Establish license and certification categoriesC. Establish feesD. Preempt the requirements of Title XI of FIRREA

• Preempt the requirements of Title XI of FIRREA

In Texas, the three classes of real property appraisal

licensure certification are:A. Certified General, Licensed

Trainee, Licensed SponsorB. Certified Residential, Licensed Residential, Licensed TraineeC. Trainee Appraiser, Sponsoring Appraiser, Certified AppraiserD.Certified Residential, Certified General, Licensed Residential

• Certified Residential, Certified General, Licensed

Residential In order to become licensed or certified as an appraiser, Texas law requires an applicant to satisfy the requirements

for:A. Three reference letters from law enforcement

officersB. Honesty, trustworthiness, and integrityC. A Bachelor's degree or higher from an accredited college or universityD. A Master's degree or higher from an accredited college or university

• Honesty, trustworthiness, and integrity

An approved Trainee Appraiser in Texas may be

sponsored by:A. Only one certified appraiserB. One or

more state certified appraisersC. Any licensed or certified appraiser in good standingD. Only a Certified General Appraiser

• One or more state certified appraisers

An applicant for a Certified Residential Appraiser credential in Texas must have accumulated ______ appraisal education hours and _______ experience hours.A. 150,