15 HR National USPAP Questions and Answers Already Passed

What is USPAP? Uniform Standards of Professional Appraisal Practice Why was USPAP developed? To promote and maintain a high level of public trust as well as confidence in professional appraisal practice What are the benefits of USPAP? 1) Provides a common basis for comparison (eg are we doing the appropriate work for the type of assignment?) 2) Provides a reference source for all users of the document. 3) Provides a basis for uniform enforcement for state regulatory agencies. 4) Provides a reason for clients, other intended users, and the public to place their trust in the services performed by professional appraisers. What is the role of the Appraisal Standards Board (ASB) of The Appraisal Foundation? To develop, interpret, and amend the Uniform Standards of Professional Appraisal Practice (USPAP). What are the five sections of USPAP? Preamble