QSP COURSE 2026 PRACTICE QUESTION SET
ONE.
◉ The stated purpose of USPAP. Answer: Promote and maintain a
high level of public trust in appraisal practice.
◉ When obligated by law or regulation an appraiser must. Answer:
comply with USPAP.
◉ USPAP applies to which types of properties?. Answer: Tangible
and Intangible
◉ Valuation services. Answer: is not a subset of appraisal practice.
◉ An appraiser has the professional responsibility. Answer: to
identify the capacity in which he or she is performing.
◉ Reasons why an appraiser would prepare an appraisal assignment
in conformance with USPAP. Answer: 1. Agreement with client.
2. Law or regulation.
3. Voluntary choice.
,◉ An appraiser who provides an appraisal service that is not an
appraisal, appraisal review, or appraisal consulting assignment does
not have workfile obligations associated with the assignment..
Answer: True
◉ An individual is not prohibited from providing valuation services
that involve advocacy while acting as an appraiser.. Answer: False
◉ When performing valuation services outside of appraisal practice,
appraisers must be careful not to _________________ the client and other
intended users about their role.. Answer: Mislead
◉ USPAP states that in a situation when an individual is not required
by law, regulation, or agreement to comply with USPAP:. Answer:
The individual should still comply when acting as an appraiser.
◉ An appraiser is engaged to teach an appraisal course. What parts
of USPAP apply?. Answer: The parts of USPAP that apply generally to
appraisal practice.
◉ The Appraisal Practices Board (APB) was created when?. Answer:
2010
◉ The APB is a(n). Answer: independent board.
, ◉ Boards within The Appraisal Foundation (TAF). Answer: 1. Board
of Trustees (BOT)
2. Appraisal Standards Board (ASB)
3. Appraisal Qualifications Board (AQB)
4. Appraisal Practices Board (APB)
◉ APB is a. Answer: private entity.
◉ The APB has authority to enforce the requirements of USPAP..
Answer: False
◉ Who has the only jurisdiction and authority over appraisers?.
Answer: States
◉ ASB. Answer: Develops, interprets, and amends USPAP.
◉ Advisory opinions. Answer: Not part of USPAP; reference material
only.
◉ APB. Answer: Guidance is voluntary.
◉ ASC. Answer: Maintains the official National Registry of state
certified and licensed appraisers.
ONE.
◉ The stated purpose of USPAP. Answer: Promote and maintain a
high level of public trust in appraisal practice.
◉ When obligated by law or regulation an appraiser must. Answer:
comply with USPAP.
◉ USPAP applies to which types of properties?. Answer: Tangible
and Intangible
◉ Valuation services. Answer: is not a subset of appraisal practice.
◉ An appraiser has the professional responsibility. Answer: to
identify the capacity in which he or she is performing.
◉ Reasons why an appraiser would prepare an appraisal assignment
in conformance with USPAP. Answer: 1. Agreement with client.
2. Law or regulation.
3. Voluntary choice.
,◉ An appraiser who provides an appraisal service that is not an
appraisal, appraisal review, or appraisal consulting assignment does
not have workfile obligations associated with the assignment..
Answer: True
◉ An individual is not prohibited from providing valuation services
that involve advocacy while acting as an appraiser.. Answer: False
◉ When performing valuation services outside of appraisal practice,
appraisers must be careful not to _________________ the client and other
intended users about their role.. Answer: Mislead
◉ USPAP states that in a situation when an individual is not required
by law, regulation, or agreement to comply with USPAP:. Answer:
The individual should still comply when acting as an appraiser.
◉ An appraiser is engaged to teach an appraisal course. What parts
of USPAP apply?. Answer: The parts of USPAP that apply generally to
appraisal practice.
◉ The Appraisal Practices Board (APB) was created when?. Answer:
2010
◉ The APB is a(n). Answer: independent board.
, ◉ Boards within The Appraisal Foundation (TAF). Answer: 1. Board
of Trustees (BOT)
2. Appraisal Standards Board (ASB)
3. Appraisal Qualifications Board (AQB)
4. Appraisal Practices Board (APB)
◉ APB is a. Answer: private entity.
◉ The APB has authority to enforce the requirements of USPAP..
Answer: False
◉ Who has the only jurisdiction and authority over appraisers?.
Answer: States
◉ ASB. Answer: Develops, interprets, and amends USPAP.
◉ Advisory opinions. Answer: Not part of USPAP; reference material
only.
◉ APB. Answer: Guidance is voluntary.
◉ ASC. Answer: Maintains the official National Registry of state
certified and licensed appraisers.
