McKissock USPAP Exam Study Guide Study
Questions and Answers (2026/2027) | Exam-
Focused Revision Pack | A+
• Which Foundation board is responsible for USPAP? -✓✓Appraisal Standards
Board (ASB)
• Which entity appoints members of the AQB and ASB? -✓✓Board of Trustees
(BOT)
• Qualification criteria for appraiser certification and recertification are
disseminated to state appraisal board by the? -✓✓Appraiser Qualifications Board
• Which entity is responsible for establishing education and experience
requirements for licensing and certification of appraisers? -✓✓Appraiser
Qualifications Board (AQB)
• USPAP is written, amended, and interpreted by the: -✓✓Appraisal Standards
Board (ASB)
• Advisory Opinions are best described as -✓✓not part of USPAP, but included as
reference material
• Which entity maintains the official National Registry of state-certified and
licensed appraisers? -✓✓Appraisal Subcommittee (ASC)
• USPAP is enforced by: -✓✓State appraiser licensing/certification agencies
• Who is responsible for issuing credentials to individual appraisers -✓✓State
appraisal regulatory agencies
• Which is not a responsibility of the Appraisal Subcommittee -✓✓Writing,
interpreting, and amending USPAP
• Which part of USPAP establishes the requirements for workfile content for an
appraisal or appraisal review assignment? -✓✓RECORD KEEPING RULE
, • Why are USPAP Advisory Opinions issued? -✓✓offer advice
• Which of these is considered an integral part of USPAP and has the same weight
as the components they address? -✓✓comments
• In USPAP the appraisal process is divided into two distinct types of
activity______ and ______? -✓✓Development and Reporting
• The first step in the appraisal process is ? -✓✓Identify the problem
• Which step in the appraisal process involves communication of the appraiser's
opinions and conclusions? -✓✓reporting
• What is the stated purpose of USPAP -✓✓Promote and maintain a high level of
public trust in appraisal practice
• To which property types does USPAP apply -✓✓Both tangible and intangible
property
• The preamble states that USPAP intended to benefit -✓✓Appraisers and users of
appraisal services
• USPAP states that in a situation when an individual is not required by law,
regulation, or agreement to comply with USPAP: -✓✓The individual should still
comply when he or she is acting as an appraiser
• A valuation service that is premised upon advocacy: -✓✓It cannot be performed
by an individual acting as an appraiser
• A preference or inclination that precludes an appraiser's impartiality,
independence, or objectivity is: -✓✓bias
• If an appraiser assumes a condition to be true, that does not exist for the purpose
of analysis, this is an example of -✓✓A hypothetical condition
Questions and Answers (2026/2027) | Exam-
Focused Revision Pack | A+
• Which Foundation board is responsible for USPAP? -✓✓Appraisal Standards
Board (ASB)
• Which entity appoints members of the AQB and ASB? -✓✓Board of Trustees
(BOT)
• Qualification criteria for appraiser certification and recertification are
disseminated to state appraisal board by the? -✓✓Appraiser Qualifications Board
• Which entity is responsible for establishing education and experience
requirements for licensing and certification of appraisers? -✓✓Appraiser
Qualifications Board (AQB)
• USPAP is written, amended, and interpreted by the: -✓✓Appraisal Standards
Board (ASB)
• Advisory Opinions are best described as -✓✓not part of USPAP, but included as
reference material
• Which entity maintains the official National Registry of state-certified and
licensed appraisers? -✓✓Appraisal Subcommittee (ASC)
• USPAP is enforced by: -✓✓State appraiser licensing/certification agencies
• Who is responsible for issuing credentials to individual appraisers -✓✓State
appraisal regulatory agencies
• Which is not a responsibility of the Appraisal Subcommittee -✓✓Writing,
interpreting, and amending USPAP
• Which part of USPAP establishes the requirements for workfile content for an
appraisal or appraisal review assignment? -✓✓RECORD KEEPING RULE
, • Why are USPAP Advisory Opinions issued? -✓✓offer advice
• Which of these is considered an integral part of USPAP and has the same weight
as the components they address? -✓✓comments
• In USPAP the appraisal process is divided into two distinct types of
activity______ and ______? -✓✓Development and Reporting
• The first step in the appraisal process is ? -✓✓Identify the problem
• Which step in the appraisal process involves communication of the appraiser's
opinions and conclusions? -✓✓reporting
• What is the stated purpose of USPAP -✓✓Promote and maintain a high level of
public trust in appraisal practice
• To which property types does USPAP apply -✓✓Both tangible and intangible
property
• The preamble states that USPAP intended to benefit -✓✓Appraisers and users of
appraisal services
• USPAP states that in a situation when an individual is not required by law,
regulation, or agreement to comply with USPAP: -✓✓The individual should still
comply when he or she is acting as an appraiser
• A valuation service that is premised upon advocacy: -✓✓It cannot be performed
by an individual acting as an appraiser
• A preference or inclination that precludes an appraiser's impartiality,
independence, or objectivity is: -✓✓bias
• If an appraiser assumes a condition to be true, that does not exist for the purpose
of analysis, this is an example of -✓✓A hypothetical condition
