USPAP Exam Questions And Verified Answers | Graded A+ | 100%
Correct Updated
1. T or F: The Appraisal Foundation has the author- False
ity to enforce the reqs of USPAP (TAF is a private entity. No enforce-
ment or jurisdiction)
2. The Appraisal Foundation Includes: 3) ASB, AQB, Board of Truste
1) BoT, ASB, ASC
2) AB, ARB, AB
3) ASB, AQB, BoT
4) BoT, FHA, Fan Mae
3. Which foundation if responsible for USPAP? 4) Appraisal Standards Boar
1) AQB
2) CFPB
3) ASC
4) ASB
4. Which entity is responsible for establishing
2) AQB
edu- cation and experience reqs for licensing
and cert of appraisers
1) BoT
2) AQB
3) ASC
4) ASB
5. Which entity appoints member of the AQB
and ASB?
4) Board of Trustees
1) ASC
2)None Shown
3) They appoint their own
4) BoT
6. 1) AQB
1/
45
, USPAP Exam Questions And Verified Answers | Graded A+ | 100%
Correct Updated
Qualification criteria for appraiser cert and
recert are disseminated to state appraisal
boards by the
1) AQB
2) BoT
3) CFPB
4) ASB
1) ASB
7. USPAP is written, amended, and interpreted
by the:
1) ASB
2) ASC
3) AQB
4) FRB
8. Which entity maintains the official National 1) ASC
Reg- istry of state-cert and licensed
appraisers
1) ASC
2) ASB
3) FRB
4) AQB
1) Writing,
9. Which is NOT a responsibility of the ASC interpreting, and
1) Writing, interpreting, and amending USPAP amending USPAP
2) Monitoring the practices, procedures, and
ac- tivities of TAF
3) Maintaining National Registry of
licensed/cer- tified appraisers
4) Overseeing each state's appraiser
licensing and cert program
10.
, USPAP Exam Questions And Verified Answers | Graded A+ | 100%
Correct Updated
USPAP is enforced by: 2) State Appraiser
1) ASC licensing/cert agencies
2) State appraiser licensing/cert agencies
3)Federal Financial Institutes Examination
Coun- cil (FFIEC)
4) ASB
11. Who is responsible for issuing credentials to
in- dividual appraisers 2) State appraisal regulatory
1) ASC agencies
2) State appraisal regulatory agencies
3) AQB
4)APB
12. Which part of USPAP establishes the reqs for
workfile content for an appraisal or appraisal
re- view assignment 2) RECORD KEEPING
1) COMPETENCY
2) RECORD KEEPING
3) JURISDICTIONAL EXCEPTION RULE
4) AO
13. Which of these is considered an integral part
of USPAP and has the same weight as the
compo- nents they address?
3) Comments
1)USPAP FAQs
2) AO
3) Comments
4)USPAP Q&A's
14. In USPAP, the appraisal process is divided
into two distinct types of activity: and
3) Development, reporting
, USPAP Exam Questions And Verified Answers | Graded A+ | 100%
Correct Updated
1)Analysis, appraisal
2) Opinion, conclusion
3) Development, reporting
4) New, old
1) ID the problem
15. The first step in the appraisal process
is:
1)ID the problem
2) Reconcile the value indicators
3) Determine scope of work
4) Perform market analysis and HaBU
16. When obligated by law or regulation, an apprais- 2) Must
er comply with USPAP.
1) May choose to
2) Must
3)Need not
4) Should
17. What is the stated purpose of USPAP? 2) Promote and maintain
1) Establish a federal appraisal high lev- el of public trust
enforcement agency
2) Promote and maintain a high level of
public trust
3) Establish requirements that licensed and
cer- tified appraisers must follow
4) Create requirements so stringent that no
ap- praiser can comply
18. The PREAMBLE states that USPAP
intended to benefit:
1) Appraiser only
3) Appraisers and users
2) Users of appraisal services only
of ap- praisal services
Correct Updated
1. T or F: The Appraisal Foundation has the author- False
ity to enforce the reqs of USPAP (TAF is a private entity. No enforce-
ment or jurisdiction)
2. The Appraisal Foundation Includes: 3) ASB, AQB, Board of Truste
1) BoT, ASB, ASC
2) AB, ARB, AB
3) ASB, AQB, BoT
4) BoT, FHA, Fan Mae
3. Which foundation if responsible for USPAP? 4) Appraisal Standards Boar
1) AQB
2) CFPB
3) ASC
4) ASB
4. Which entity is responsible for establishing
2) AQB
edu- cation and experience reqs for licensing
and cert of appraisers
1) BoT
2) AQB
3) ASC
4) ASB
5. Which entity appoints member of the AQB
and ASB?
4) Board of Trustees
1) ASC
2)None Shown
3) They appoint their own
4) BoT
6. 1) AQB
1/
45
, USPAP Exam Questions And Verified Answers | Graded A+ | 100%
Correct Updated
Qualification criteria for appraiser cert and
recert are disseminated to state appraisal
boards by the
1) AQB
2) BoT
3) CFPB
4) ASB
1) ASB
7. USPAP is written, amended, and interpreted
by the:
1) ASB
2) ASC
3) AQB
4) FRB
8. Which entity maintains the official National 1) ASC
Reg- istry of state-cert and licensed
appraisers
1) ASC
2) ASB
3) FRB
4) AQB
1) Writing,
9. Which is NOT a responsibility of the ASC interpreting, and
1) Writing, interpreting, and amending USPAP amending USPAP
2) Monitoring the practices, procedures, and
ac- tivities of TAF
3) Maintaining National Registry of
licensed/cer- tified appraisers
4) Overseeing each state's appraiser
licensing and cert program
10.
, USPAP Exam Questions And Verified Answers | Graded A+ | 100%
Correct Updated
USPAP is enforced by: 2) State Appraiser
1) ASC licensing/cert agencies
2) State appraiser licensing/cert agencies
3)Federal Financial Institutes Examination
Coun- cil (FFIEC)
4) ASB
11. Who is responsible for issuing credentials to
in- dividual appraisers 2) State appraisal regulatory
1) ASC agencies
2) State appraisal regulatory agencies
3) AQB
4)APB
12. Which part of USPAP establishes the reqs for
workfile content for an appraisal or appraisal
re- view assignment 2) RECORD KEEPING
1) COMPETENCY
2) RECORD KEEPING
3) JURISDICTIONAL EXCEPTION RULE
4) AO
13. Which of these is considered an integral part
of USPAP and has the same weight as the
compo- nents they address?
3) Comments
1)USPAP FAQs
2) AO
3) Comments
4)USPAP Q&A's
14. In USPAP, the appraisal process is divided
into two distinct types of activity: and
3) Development, reporting
, USPAP Exam Questions And Verified Answers | Graded A+ | 100%
Correct Updated
1)Analysis, appraisal
2) Opinion, conclusion
3) Development, reporting
4) New, old
1) ID the problem
15. The first step in the appraisal process
is:
1)ID the problem
2) Reconcile the value indicators
3) Determine scope of work
4) Perform market analysis and HaBU
16. When obligated by law or regulation, an apprais- 2) Must
er comply with USPAP.
1) May choose to
2) Must
3)Need not
4) Should
17. What is the stated purpose of USPAP? 2) Promote and maintain
1) Establish a federal appraisal high lev- el of public trust
enforcement agency
2) Promote and maintain a high level of
public trust
3) Establish requirements that licensed and
cer- tified appraisers must follow
4) Create requirements so stringent that no
ap- praiser can comply
18. The PREAMBLE states that USPAP
intended to benefit:
1) Appraiser only
3) Appraisers and users
2) Users of appraisal services only
of ap- praisal services
