USPAP Practice Test EXAM fully solved &
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Terms in this set (100)
The PREAMBLE states the purpose trust
of USPAP is to maintain public ___ in
the appraisal practice by establishing
requirements for appraisers.
USPAP benefits providers of users of appraisal services.
appraisal services and
Which is NOT considered significant collecting employment data for use in analysis
real property appraisal assistance?
A valuation service performed by an inquire about the intended user's expectations.
individual acting as an appraiser
requires the appraiser to
When an individual is performing not misrepresent his role.
valuation services outside of
appraisal practice, that individual
must be careful to
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When choosing to provide a maintain public trust.
valuation service as an appraiser or
in some other capacity, great care
must be taken to
A real property appraiser teaching appraisal practice with no applicable Standards (1-
appraisal is engaged in 10).
A lender has telephoned an appraisal practice with no performance standards
appraiser to determine the high and or record keeping requirements.
low sales prices in the past year that
took place in the Green Hills
Subdivision. No mention was made
of a subject property by the lender.
The appraiser has supplied a list of
all of the sales within the past year in
the subdivision and billed the lender
for service. The service being
provided by the appraiser is
In accordance with USPAP, which is holding a state license or certification
NOT an expectation when acting in
the role of an appraiser?
Compliance with USPAP is required agreement, law, or regulation.
when obligated by
When an appraiser is providing a RECORD KEEPING RULE
service other than an appraisal or
appraisal review, which would NOT
apply?
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Zachary's client instructs him to is a violation of the ETHICS RULE.
report a specific property value as a
condition of the assignment. The
assignment
Which of these activities does the criminal conduct
Conduct section of the ETHICS
RULE prohibit?
Jack appraised a residential dwelling no, omitting the discussion could produce a
that is located across the street from misleading report
a factory that he determined is
negatively affecting the value of the
subject property. Jack applied a
location adjustment in his sales
comparison approach. However, the
client asked that the factory not be
discussed in the appraisal report.
Since Jack addressed the condition
with an adjustment, has he complied
with USPAP?
Anthony received an appraisal make proper disclosure regarding the prior
assignment for a property that was assignment
previously appraised by him. He
understands that be must handle
confidential information
appropriately. What else must
Anthony do?
Marcus was hired to appraise a home yes, as long as he discloses the previous service on
that be had previously appraised the property to the client and in the subsequent
one year ago. May Marcus accept report certification
the assignment?
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