15-hour National USPAP Course –
McKissock Exam Questions and Answers
Report Correct Ans-Any communication, written or oral, of an appraisal or appraisal review
that is transmitted to the client or a party authorized by the client upon completion of an
assignment.
Signature Correct Ans-Personalized evidence indicating authentication of the work performed
by the appraiser and the acceptance of the responsibility for content, analyses, and the
conclusions in the report.
Workfile Correct Ans-Data, information, and documentation necessary to support the
appraiser's opinions and conclusions and to show compliance with USPAP.
Scope of Work Correct Ans-The type and extent of research and analyses in an appraisal or
appraisal review assignment.
The ethics rule is composed of what 3 sections? Correct Ans-1. Conduct
2. Management
,3. Confidentiality
Conduct in the Ethics Rule is composed of what 4 subparts? Correct Ans-1. General Conduct
2. Development
3. Communication
4. Disclosure
What are an appraiser's disclosure obligations? Correct Ans-- Must disclose current or
prospective interest in the property or parties involved.
- Whether or not they have performed ANY services on the property in the past 3 years.
- Fees or commissions paid, or things of value given, in connection with the assignment
procurement.
Workfiles must include... Correct Ans-- Name of the client and ID of other intended users
- True copies of all written reports (with signatures)
- Summaries of oral reports/testimony, or a transcript of testimony, with signed and dated
certification
- All other data, information & documentation necessary to support the opinions and conclusions
and compliance with USPAP (or where the references are located)
, The Competency Rule Correct Ans-An appraiser must (1) be competent to perform the
assignment; (2) acquire the necessary competency to perform the assignment; or (3) decline or
withdraw from the assignment.
Perfection is impossible to attain ... this rule requires an appraiser to use due diligence and due
care.
What are the three sections of the Competency Rule? Correct Ans-1) Being Competent
2) Acquiring Competency
3) Lack of Competency
The Being Competent section states Correct Ans-An appraiser must determine, prior to
agreeing to perform an assignment, that he or she can perform the assignment competently.
Competency requires:
1. the ability to properly identify the problem to be addressed;
2. the knowledge and experience to complete the assignment competently; and
3. recognition of, and compliance with, laws and regulations that apply to the appraiser or to the
assignment.
McKissock Exam Questions and Answers
Report Correct Ans-Any communication, written or oral, of an appraisal or appraisal review
that is transmitted to the client or a party authorized by the client upon completion of an
assignment.
Signature Correct Ans-Personalized evidence indicating authentication of the work performed
by the appraiser and the acceptance of the responsibility for content, analyses, and the
conclusions in the report.
Workfile Correct Ans-Data, information, and documentation necessary to support the
appraiser's opinions and conclusions and to show compliance with USPAP.
Scope of Work Correct Ans-The type and extent of research and analyses in an appraisal or
appraisal review assignment.
The ethics rule is composed of what 3 sections? Correct Ans-1. Conduct
2. Management
,3. Confidentiality
Conduct in the Ethics Rule is composed of what 4 subparts? Correct Ans-1. General Conduct
2. Development
3. Communication
4. Disclosure
What are an appraiser's disclosure obligations? Correct Ans-- Must disclose current or
prospective interest in the property or parties involved.
- Whether or not they have performed ANY services on the property in the past 3 years.
- Fees or commissions paid, or things of value given, in connection with the assignment
procurement.
Workfiles must include... Correct Ans-- Name of the client and ID of other intended users
- True copies of all written reports (with signatures)
- Summaries of oral reports/testimony, or a transcript of testimony, with signed and dated
certification
- All other data, information & documentation necessary to support the opinions and conclusions
and compliance with USPAP (or where the references are located)
, The Competency Rule Correct Ans-An appraiser must (1) be competent to perform the
assignment; (2) acquire the necessary competency to perform the assignment; or (3) decline or
withdraw from the assignment.
Perfection is impossible to attain ... this rule requires an appraiser to use due diligence and due
care.
What are the three sections of the Competency Rule? Correct Ans-1) Being Competent
2) Acquiring Competency
3) Lack of Competency
The Being Competent section states Correct Ans-An appraiser must determine, prior to
agreeing to perform an assignment, that he or she can perform the assignment competently.
Competency requires:
1. the ability to properly identify the problem to be addressed;
2. the knowledge and experience to complete the assignment competently; and
3. recognition of, and compliance with, laws and regulations that apply to the appraiser or to the
assignment.
