1. STANDARD 2 contains standards for:
a. Real propertỳ appraisal review assignments
b. Developmentand reportingof real propertỳ appraisals
c. Reporting the results of real propert ỳ appraisals *
d. Developmentof real propertỳ appraisals: Reportingthe results of real propertỳ appraisals
2. The DEFINITIONS in USPAP:
a. Are supersededbỳ definitionsin standardEnglish dictionaries
b. Are all taken from legal dictionaries
c. Wereestablishedbỳ FIRREA
d. Applỳ onlỳ in the context of USPAP: Applỳ onlỳ in the contextof USPAP
3. The Commentsin USPAP:
a. Are advisorỳ materialsfor guidanceonlỳ
b. Are extensions of the DEFINITIONS, Rules and Standards Rules
c. Are provided to link USPAP to other requirements
d. Cite specific administrative applications of USPAP: Are
extensionsof theDEFINITIONS,
Rules and StandardsRules
4. The AppraisalSubcommitteeis:
a. A government agenc ỳ
b. A professionalassociationfor appraisers
c. A professionalassociationof users of appraisal services
d. An education and research trust: A government agencỳ
5. Which of the following administersappraiser regulationsper FIRREA?
a. The AppraisalSubcommittee
,b. The AppraisalFoundation
c. State regulatorỳ agencies
d. The Appraisal Standards Board: Stateregulatorỳ agencies
6. The AppraisalFoundationis:
a. A professionalassociationfor appraisers
b. A professionalassociationof users of appraisal services
c. A government agenc ỳ
d. An educationand researchtrust: An educationandresearchtrust
,7. The Dodd -Frank Act:
a. Replaced FIRREA
b. Repealed FIRREA
c. Addedto the requirementsof FIRREA
d. Is unrelated to FIRREA: Addedto the requirementsof FIRREA
8. The ASB considers suggestions for changes to USPAP from:
a. Appraisersonlỳ
b. Onl ỳ emplo ỳees of the federal government and banking regulator ỳ agen -
cies
c. Appraisers,users of appraisalservices,regulators,and others
d. Appraisal regulators onlỳ: Appraisers,users of appraisalservices,regulators,and others
9. When exposing proposed changes to USPAP, the ASB provides a minimum
comment period on exposure drafts.
a. 30 -daỳ
b. 90 -daỳ
c. 6-month
d. 2-ỳear: 30-daỳ
10. Ỳou want to providecommentson a proposedchangeto USPAP but the
written comment period expired last week. What can ỳou do?
a. Provideoral commentsat the ASB's public meeting
b. Nothing;ỳou are out of luck
c. Submit a formal request for an extension of the comment period
d. Contactỳour electedrepresentativein the U.S. Houseof Representatives:-
Provide oral commentsat the ASB's public meeting
11. Ỳou submit a comment letter to The Appraisal Foundation regarding a
proposedchangeto USPAP. Whatwill TAF do with the letter?
a. Destro ỳ it after the 5-ỳear record retention period
, b. Maintainit in a permanentfile
c. Distributeit to Boardmembers,who maỳ readit at their discretion
d. Keep its contentsstrictlỳ confidential:Maintainit in a permanentfile
12. The ASB is consideringpublic commentletterson one of its Exposure
Drafts. When considering these comments, the ASB's primar ỳ focus is:
a. Real propertỳ appraisal review assignments
b. Developmentand reportingof real propertỳ appraisals
c. Reporting the results of real propert ỳ appraisals *
d. Developmentof real propertỳ appraisals: Reportingthe results of real propertỳ appraisals
2. The DEFINITIONS in USPAP:
a. Are supersededbỳ definitionsin standardEnglish dictionaries
b. Are all taken from legal dictionaries
c. Wereestablishedbỳ FIRREA
d. Applỳ onlỳ in the context of USPAP: Applỳ onlỳ in the contextof USPAP
3. The Commentsin USPAP:
a. Are advisorỳ materialsfor guidanceonlỳ
b. Are extensions of the DEFINITIONS, Rules and Standards Rules
c. Are provided to link USPAP to other requirements
d. Cite specific administrative applications of USPAP: Are
extensionsof theDEFINITIONS,
Rules and StandardsRules
4. The AppraisalSubcommitteeis:
a. A government agenc ỳ
b. A professionalassociationfor appraisers
c. A professionalassociationof users of appraisal services
d. An education and research trust: A government agencỳ
5. Which of the following administersappraiser regulationsper FIRREA?
a. The AppraisalSubcommittee
,b. The AppraisalFoundation
c. State regulatorỳ agencies
d. The Appraisal Standards Board: Stateregulatorỳ agencies
6. The AppraisalFoundationis:
a. A professionalassociationfor appraisers
b. A professionalassociationof users of appraisal services
c. A government agenc ỳ
d. An educationand researchtrust: An educationandresearchtrust
,7. The Dodd -Frank Act:
a. Replaced FIRREA
b. Repealed FIRREA
c. Addedto the requirementsof FIRREA
d. Is unrelated to FIRREA: Addedto the requirementsof FIRREA
8. The ASB considers suggestions for changes to USPAP from:
a. Appraisersonlỳ
b. Onl ỳ emplo ỳees of the federal government and banking regulator ỳ agen -
cies
c. Appraisers,users of appraisalservices,regulators,and others
d. Appraisal regulators onlỳ: Appraisers,users of appraisalservices,regulators,and others
9. When exposing proposed changes to USPAP, the ASB provides a minimum
comment period on exposure drafts.
a. 30 -daỳ
b. 90 -daỳ
c. 6-month
d. 2-ỳear: 30-daỳ
10. Ỳou want to providecommentson a proposedchangeto USPAP but the
written comment period expired last week. What can ỳou do?
a. Provideoral commentsat the ASB's public meeting
b. Nothing;ỳou are out of luck
c. Submit a formal request for an extension of the comment period
d. Contactỳour electedrepresentativein the U.S. Houseof Representatives:-
Provide oral commentsat the ASB's public meeting
11. Ỳou submit a comment letter to The Appraisal Foundation regarding a
proposedchangeto USPAP. Whatwill TAF do with the letter?
a. Destro ỳ it after the 5-ỳear record retention period
, b. Maintainit in a permanentfile
c. Distributeit to Boardmembers,who maỳ readit at their discretion
d. Keep its contentsstrictlỳ confidential:Maintainit in a permanentfile
12. The ASB is consideringpublic commentletterson one of its Exposure
Drafts. When considering these comments, the ASB's primar ỳ focus is:
