National USPAP Course Exam || Most Recent Exam 2026-2027
Actual Complete Real Exam Questions And Correct Answers
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A client wants to know the current value, as though repaired,
of a property that has been damaged due to flooding from a
severe storm. What type of assignment condition should the
appraiser use? - ANSWER -The appraiser should use a
hypothetical condition because the property as if repaired does
not currently exist as of the effective date.
A client has repaired a property that was damaged due to
flooding. Several neighboring properties that were similarly
flooded and later repaired soon developed mold problems. The
client's property shows no evidence of mold as of the effective
date. What type of assignment condition should the appraiser
use if the client wants a current value opinion of the property? -
ANSWER -The appraiser should use an extraordinary
assumption, because as of the date of value, the fact of the
potential condition (i.e., mold) is unknown, and it is reasonable
to believe the current condition is true.
An appraiser performed the cost approach in an appraisal of a
new warehouse. The buyer paid $1.9 million for the building
and site. The property's market value was $2 million. Identify
each of the three components: the reproduction cost developed
by the appraiser, the $1.9 million figure, and the $2 million
,figure as (a) fact, (b) an estimate of fact, or (c) an opinion in
relation to the appraisal of this property. - ANSWER -The
reproduction cost developed by the appraiser is an estimate of
fact (b).
The $1.9 million sale is the price as a stated fact (a).
The $2 million value of the property is the appraiser's opinion
(c).
A client requests "a number" over the phone in advance of the
written appraisal report. How should an appraiser handle this
type of request? - ANSWER -This is an additional report - an
oral report. A summary of the oral report and a signed and
dated certification must be included in the workfile.
Additionally, the
workfile must contain a true copy of the written report that is
delivered to the
client.
In reporting the scope of work in an appraisal or appraisal
review report: - ANSWER -the report must contain sufficient
information so that intended users understand the scope of
work
If an assignment involves a jurisdictional exception, what must
an appraiser do? - ANSWER -Identify the law, comply with the
law, disclose in the report the part of USPAP that is voided, and
cite in the report the law that caused the jurisdictional
exception
,What is the purpose of the JURISDICTIONAL EXCEPTION
RULE? - ANSWER -To provide a saving or severability clause to
preserve the balance of USPAP
If USPAP compliance is mandated by federal law, no state
or local law can
create a jurisdictional exception. -
ANSWER –true
When a law or regulation precludes compliance with any
part of USPAP,
appraisers must: - ANSWER -comply with that law
or regulation
The use of the JURISDICTIONAL EXCEPTION RULE in an
assignment is a
matter of choice by an appraiser. -
ANSWER –false
As used in the JURISDICTIONAL EXCEPTION RULE, the term
"law" includes
____________. - ANSWER -legislative laws,
administrative rules and
ordinances, and court-
made laws
Is it permissible to use instructions from an attorney
as a basis for a
, jurisdictional exception? -
ANSWER –no
When does a jurisdictional exception occur in an assignment?
- ANSWER -it is
automatic when a law precludes compliance with a
part of USPAP
A state passes a law requiring appraisers to keep their
workfiles for 10 years after preparation. Is this a jurisdictional
exception under USPAP? - ANSWER -no
Which of these would be considered an example of a
jurisdictional exception in an appraisal assignment? - ANSWER
-A probate court paying appraisers based on the value of the
subject property
The requirements of STANDARD 1 can be used as a checklist
by an appraiser
who is developing a real property appraisal. -
ANSWER –true
What is false regarding Standard 1? - ANSWER -it covers real
and personal
property
development
An appraiser's client wishes to remain anonymous, and asks
the appraiser not to include client's identity in an appraisal
Actual Complete Real Exam Questions And Correct Answers
(Verified Answers) Already Graded A+ | Guaranteed Success
| Newest Exam | Just Released!!
A client wants to know the current value, as though repaired,
of a property that has been damaged due to flooding from a
severe storm. What type of assignment condition should the
appraiser use? - ANSWER -The appraiser should use a
hypothetical condition because the property as if repaired does
not currently exist as of the effective date.
A client has repaired a property that was damaged due to
flooding. Several neighboring properties that were similarly
flooded and later repaired soon developed mold problems. The
client's property shows no evidence of mold as of the effective
date. What type of assignment condition should the appraiser
use if the client wants a current value opinion of the property? -
ANSWER -The appraiser should use an extraordinary
assumption, because as of the date of value, the fact of the
potential condition (i.e., mold) is unknown, and it is reasonable
to believe the current condition is true.
An appraiser performed the cost approach in an appraisal of a
new warehouse. The buyer paid $1.9 million for the building
and site. The property's market value was $2 million. Identify
each of the three components: the reproduction cost developed
by the appraiser, the $1.9 million figure, and the $2 million
,figure as (a) fact, (b) an estimate of fact, or (c) an opinion in
relation to the appraisal of this property. - ANSWER -The
reproduction cost developed by the appraiser is an estimate of
fact (b).
The $1.9 million sale is the price as a stated fact (a).
The $2 million value of the property is the appraiser's opinion
(c).
A client requests "a number" over the phone in advance of the
written appraisal report. How should an appraiser handle this
type of request? - ANSWER -This is an additional report - an
oral report. A summary of the oral report and a signed and
dated certification must be included in the workfile.
Additionally, the
workfile must contain a true copy of the written report that is
delivered to the
client.
In reporting the scope of work in an appraisal or appraisal
review report: - ANSWER -the report must contain sufficient
information so that intended users understand the scope of
work
If an assignment involves a jurisdictional exception, what must
an appraiser do? - ANSWER -Identify the law, comply with the
law, disclose in the report the part of USPAP that is voided, and
cite in the report the law that caused the jurisdictional
exception
,What is the purpose of the JURISDICTIONAL EXCEPTION
RULE? - ANSWER -To provide a saving or severability clause to
preserve the balance of USPAP
If USPAP compliance is mandated by federal law, no state
or local law can
create a jurisdictional exception. -
ANSWER –true
When a law or regulation precludes compliance with any
part of USPAP,
appraisers must: - ANSWER -comply with that law
or regulation
The use of the JURISDICTIONAL EXCEPTION RULE in an
assignment is a
matter of choice by an appraiser. -
ANSWER –false
As used in the JURISDICTIONAL EXCEPTION RULE, the term
"law" includes
____________. - ANSWER -legislative laws,
administrative rules and
ordinances, and court-
made laws
Is it permissible to use instructions from an attorney
as a basis for a
, jurisdictional exception? -
ANSWER –no
When does a jurisdictional exception occur in an assignment?
- ANSWER -it is
automatic when a law precludes compliance with a
part of USPAP
A state passes a law requiring appraisers to keep their
workfiles for 10 years after preparation. Is this a jurisdictional
exception under USPAP? - ANSWER -no
Which of these would be considered an example of a
jurisdictional exception in an appraisal assignment? - ANSWER
-A probate court paying appraisers based on the value of the
subject property
The requirements of STANDARD 1 can be used as a checklist
by an appraiser
who is developing a real property appraisal. -
ANSWER –true
What is false regarding Standard 1? - ANSWER -it covers real
and personal
property
development
An appraiser's client wishes to remain anonymous, and asks
the appraiser not to include client's identity in an appraisal
