USPAP Practice Test Exam Questions and Correct Solutions 2024

USPAP Practice Test Exam Questions and Correct Solutions 2024 The PREAMBLE states the purpose of USPAP is to maintain public ___ in the appraisal practice by establishing requirements for appraisers. - Answer -trust USPAP benefits providers of appraisal services and - Answer -users of appraisal services. Which is NOT considered significant real property appraisal assistance? - Answer -collecting employment data for use in analysis A valuation service performed by an individual acting as an appraiser requires the appraiser to - Answer - inquire about the intended user's expectations. When an individual is performing valuation services outside of appraisal practice, that individual must be careful to - Answer -not misrepresent his role. When choosing to provide a valuation service as an appraiser or in some other capacity, great care must be taken to - Answer -maintain public trust. A real property appraiser teaching appraisal is engaged in - Answer -appraisal practice with no applicable Standards (1-10). A lender has telephoned an appraiser to determine the high and low sales prices in the past year that took place in the Green Hills Subdivision. No mention was made of a subject property by the lender. The appraiser has supplied a list of all of the sales within the past year in the subdivision and billed the lender for service. The service being provided by the appraiser is - Answer -appraisal practice with no performance standards or record keeping requirements. In accordance with USPAP, which is NOT an expectation when acting in the role of an appraiser? - Answer -holding a state license or certification Compliance with USPAP is required when obligated by - Answer -agreement, law, or regulation. When an appraiser is providing a service other than an appraisal or appraisal review, which would NOT apply? - Answer -RECORD KEEPING RULE Zachary's client instructs him to report a specific property value as a condition of the assignment. The assignment - Answer -is a violation of the ETHICS RULE. Which of these activities does the Conduct section of the ETHICS RULE prohibit? - Answer -criminal conductJack appraised a residential dwelling that is located across the street from a factory that he determine