15-HR USPAP COURSE STUDY SET EXAM QUESTIONS WITH CORRECT ANSWERS 2026/2027
1. Appraisal Standards Board (ASB): Who is responsible for issuing credentials to individual appraisers?
2. Appraiser Qualifications Board (AQB): Qualification criteria for appraiser certification and recerti- fication are
disseminated to state appraisal boards by the:
3. not part of USPAP, but included as reference material: Advisory Opinions are best described
as
4. State appraiser licensing/certification agencies: USPAP is enforced by:
5. State appraisal regulatory agencies: Who is responsible for issuing credentials to individual
appraisers?
6. Appraisal Subcommittee (ASC): Which entity maintains the oflcial National Registry of state-certified and licensed
appraisers?
7. Writing, interpreting, and amending USPAP: Which is NOT a responsibility of the Appraisal
Subcommittee (ASC)?
8. To offer advice: Why are USPAP Advisory Opinions issued?
9. Comments: Which of these is considered an integral part of USPAP and has the same weight as the components they
address?
10. Identify the problem: The first step in the appraisal process is:
11. True: An appraiser has the professional responsibility to identify the capacity in which he or she is performing.
12. Cannot be performed by an individual acting as an appraiser: Avaluationservicethat is premised
upon advocacy:
13. False: An appraiser is permitted to be biased when performing an appraisal, as long as the bias is properly disclosed.
14. A hypothetical condition: If an appraiser assumes a condition to be true that does not exist for the purposes of
analysis, this is an example of:
15. Cost: By using a published cost manual, an appraiser determines that the construction cost of a 2,500 square foot dwelling
is $400,000. This figure represents the dwelling's:
16. an assignment result: An appraiser performs an appraisal assignment and develops an opinion of value. This value
opinion is
17. A party who is identified by the appraiser based on communication with the client at
the time of the assignment: An intended user is:
18. Individual appraisers: The ethical obligations of USPAP apply to:
19. No: Is an appraiser permitted by USPAP to create a workfile after transmitting the report to the client?
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1. Appraisal Standards Board (ASB): Who is responsible for issuing credentials to individual appraisers?
2. Appraiser Qualifications Board (AQB): Qualification criteria for appraiser certification and recerti- fication are
disseminated to state appraisal boards by the:
3. not part of USPAP, but included as reference material: Advisory Opinions are best described
as
4. State appraiser licensing/certification agencies: USPAP is enforced by:
5. State appraisal regulatory agencies: Who is responsible for issuing credentials to individual
appraisers?
6. Appraisal Subcommittee (ASC): Which entity maintains the oflcial National Registry of state-certified and licensed
appraisers?
7. Writing, interpreting, and amending USPAP: Which is NOT a responsibility of the Appraisal
Subcommittee (ASC)?
8. To offer advice: Why are USPAP Advisory Opinions issued?
9. Comments: Which of these is considered an integral part of USPAP and has the same weight as the components they
address?
10. Identify the problem: The first step in the appraisal process is:
11. True: An appraiser has the professional responsibility to identify the capacity in which he or she is performing.
12. Cannot be performed by an individual acting as an appraiser: Avaluationservicethat is premised
upon advocacy:
13. False: An appraiser is permitted to be biased when performing an appraisal, as long as the bias is properly disclosed.
14. A hypothetical condition: If an appraiser assumes a condition to be true that does not exist for the purposes of
analysis, this is an example of:
15. Cost: By using a published cost manual, an appraiser determines that the construction cost of a 2,500 square foot dwelling
is $400,000. This figure represents the dwelling's:
16. an assignment result: An appraiser performs an appraisal assignment and develops an opinion of value. This value
opinion is
17. A party who is identified by the appraiser based on communication with the client at
the time of the assignment: An intended user is:
18. Individual appraisers: The ethical obligations of USPAP apply to:
19. No: Is an appraiser permitted by USPAP to create a workfile after transmitting the report to the client?
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