15-hr National USPAP Course
1. Which Foundation board is responsible for USPAP? Appraisal Standards
Board (ASB)
2. Currently, the boards within The Appraisal Foundation Appraisal Standards
include: Board, Appraiser Qualifi-
cations Board, Board of
Trustees
3. The Appraisal Foundation has the authority to enforce False
the requirements of USPAP.
4. Qualification criteria for appraiser certification and Appraiser Qualifications
recertification are disseminated to state appraisal Board (AQB)
boards by the:
5. Which entity appoints members of the AQB and ASB? Board of Trustees (BOT)
6. Which entity is responsible for establishing education Appraiser Qualifications
and experience requirements for licensing and certifi- Board (AQB)
cation of appraisers?
7. USPAP is written, amended, and interpreted by the: Appraisal Standards
Board (ASB)
8. Advisory Opinions are best described as not part of USPAP, but in-
cluded as reference mate-
rial
9. Which is NOT a responsibility of the Appraisal Subcom- Writing, interpreting, and
mittee (ASC)? amending USPAP
10. USPAP is enforced by: State appraiser licens-
ing/certification agencies
, 15-hr National USPAP Course
11. Which entity maintains the official National Registry of Appraisal Subcommittee
state-certified and licensed appraisers? (ASC)
12. Who is responsible for issuing credentials to individual State appraisal regulatory
appraisers? agencies
13. Which of these is considered an integral part of USPAP Comments
and has the same weight as the components they
address?
14. Which part of USPAP establishes the requirements for RECORD KEEPING RULE
workfile content for an appraisal or appraisal review
assignment?
15. Why are USPAP Advisory Opinions issued? To offer advice
16. Which step in the appraisal process involves commu- Reporting
nication of the appraiser's opinions and conclusions?
17. In USPAP, the appraisal process is divided into two Development, reporting
distinct types of activity: _________ and __________.
18. The first step in the appraisal process is: Identify the problem
19. The PREAMBLE states that USPAP intended to benefit: Appraisers and users of
appraisal services
20. When obligated by law or regulation, an appraiser Must
_______ comply with USPAP.
21. What is the stated purpose of USPAP? Promote and maintain a
high level of public trust in
appraisal practice
, 15-hr National USPAP Course
22. An appraiser has the professional responsibility to True
identify the capacity in which he or she is performing.
23. The requirement for USPAP compliance in an ap- Any of these answers (Vol-
praisal assignment could be the result of: untary choice by the ap-
praiser, Law or regulation,
Agreement with the client)
24. When performing valuation services outside of ap- Mislead
praisal practice, an individual must be careful not to
__________ the client and other intended users about
his or her role.
25. A valuation service that is premised upon advocacy: Cannot be performed by
an individual acting as an
appraiser
26. USPAP states that in a situation when an individual The individual should still
is not required by law, regulation, or agreement to comply when he or she is
comply with USPAP: acting as an appraiser
27. A preference or inclination that precludes an apprais- Bias
er's impartiality, independence, or objectivity is:
28. An appraiser is permitted to be biased when perform- False
ing an appraisal, as long as the bias is properly dis-
closed.
29. If an appraiser assumes a condition to be true that A hypothetical condition
does not exist for the purposes of analysis, this is an
example of:
30. An extraordinary assump-
tion
1. Which Foundation board is responsible for USPAP? Appraisal Standards
Board (ASB)
2. Currently, the boards within The Appraisal Foundation Appraisal Standards
include: Board, Appraiser Qualifi-
cations Board, Board of
Trustees
3. The Appraisal Foundation has the authority to enforce False
the requirements of USPAP.
4. Qualification criteria for appraiser certification and Appraiser Qualifications
recertification are disseminated to state appraisal Board (AQB)
boards by the:
5. Which entity appoints members of the AQB and ASB? Board of Trustees (BOT)
6. Which entity is responsible for establishing education Appraiser Qualifications
and experience requirements for licensing and certifi- Board (AQB)
cation of appraisers?
7. USPAP is written, amended, and interpreted by the: Appraisal Standards
Board (ASB)
8. Advisory Opinions are best described as not part of USPAP, but in-
cluded as reference mate-
rial
9. Which is NOT a responsibility of the Appraisal Subcom- Writing, interpreting, and
mittee (ASC)? amending USPAP
10. USPAP is enforced by: State appraiser licens-
ing/certification agencies
, 15-hr National USPAP Course
11. Which entity maintains the official National Registry of Appraisal Subcommittee
state-certified and licensed appraisers? (ASC)
12. Who is responsible for issuing credentials to individual State appraisal regulatory
appraisers? agencies
13. Which of these is considered an integral part of USPAP Comments
and has the same weight as the components they
address?
14. Which part of USPAP establishes the requirements for RECORD KEEPING RULE
workfile content for an appraisal or appraisal review
assignment?
15. Why are USPAP Advisory Opinions issued? To offer advice
16. Which step in the appraisal process involves commu- Reporting
nication of the appraiser's opinions and conclusions?
17. In USPAP, the appraisal process is divided into two Development, reporting
distinct types of activity: _________ and __________.
18. The first step in the appraisal process is: Identify the problem
19. The PREAMBLE states that USPAP intended to benefit: Appraisers and users of
appraisal services
20. When obligated by law or regulation, an appraiser Must
_______ comply with USPAP.
21. What is the stated purpose of USPAP? Promote and maintain a
high level of public trust in
appraisal practice
, 15-hr National USPAP Course
22. An appraiser has the professional responsibility to True
identify the capacity in which he or she is performing.
23. The requirement for USPAP compliance in an ap- Any of these answers (Vol-
praisal assignment could be the result of: untary choice by the ap-
praiser, Law or regulation,
Agreement with the client)
24. When performing valuation services outside of ap- Mislead
praisal practice, an individual must be careful not to
__________ the client and other intended users about
his or her role.
25. A valuation service that is premised upon advocacy: Cannot be performed by
an individual acting as an
appraiser
26. USPAP states that in a situation when an individual The individual should still
is not required by law, regulation, or agreement to comply when he or she is
comply with USPAP: acting as an appraiser
27. A preference or inclination that precludes an apprais- Bias
er's impartiality, independence, or objectivity is:
28. An appraiser is permitted to be biased when perform- False
ing an appraisal, as long as the bias is properly dis-
closed.
29. If an appraiser assumes a condition to be true that A hypothetical condition
does not exist for the purposes of analysis, this is an
example of:
30. An extraordinary assump-
tion
