©FYNDLAY 2025 ALL RIGHTS RESERVED 5:17 PM A+
USPAP 15 Hour Course. Exam Questions
And Answers |Latest 2025 | Guaranteed Pass
APPRAISAL: - Answer✔(noun) the act or process of developing an opinion of value; an opinion
of value.
APPRAISAL: - Answer✔(adjective) of or pertaining to appraising and related functions such as
appraisal practice or appraisal services.
APPRAISAL: - Answer✔An _______ must be numerically expressed as a specific amount, as a
range of numbers, or as a relationship
APPRAISAL PRACTICE: - Answer✔valuation services performed by an individual acting as an
appraiser, including but not limited to appraisal and appraisal review.
APPRAISAL REVIEW - Answer✔(noun) the act or process of developing an opinion about the
quality of another appraiser's work that was performed as part of an appraisal or appraisal
review assignment
APPRAISAL REVIEW - Answer✔(adjective) of or pertaining to an opinion about the quality of
another appraiser's work that was performed as part of an appraisal or appraisal review
assignment.
Comment: The subject of an _______ _________ assignment may be all or part of a report,
workfile, or a
1
, ©FYNDLAY 2025 ALL RIGHTS RESERVED 5:17 PM A+
combination of these.
APPRAISER: - Answer✔one who is expected to perform valuation services competently and in a
manner that is independent, impartial, and objective.
Comment: Such expectation occurs when individuals, either by choice or by requirement placed
upon them or upon the service they provide by law, regulation, or agreement with the client or
intended users, represent that they comply.
APPRAISER'S PEERS - Answer✔other appraisers who have expertise and competency in a similar
type of assignment.
ASSIGNMENT: - Answer✔a valuation service that is provided by an appraiser as a consequence
of an agreement with a client.
ASSIGNMENT CONDITIONS: - Answer✔Assumptions, extraordinary assumptions, hypothetical
conditions, laws and regulations, jurisdictional exceptions, and other conditions that affect the
scope of work.
Comment: Laws include constitutions, legislative and court-made law, administrative rules, and
ordinances.
Regulations include rules or orders, having legal force, issued by an administrative agency.
ASSIGNMENT RESULTS - Answer✔An appraiser's opinions or conclusions developed specific to
an assignment.
Comment: _______ _________ include an appraiser's:
• opinions or conclusions developed in an appraisal assignment, not limited to value;
• opinions or conclusions, developed in an appraisal review assignment, not limited to an
opinion about the quality of another appraiser's work; or
2
USPAP 15 Hour Course. Exam Questions
And Answers |Latest 2025 | Guaranteed Pass
APPRAISAL: - Answer✔(noun) the act or process of developing an opinion of value; an opinion
of value.
APPRAISAL: - Answer✔(adjective) of or pertaining to appraising and related functions such as
appraisal practice or appraisal services.
APPRAISAL: - Answer✔An _______ must be numerically expressed as a specific amount, as a
range of numbers, or as a relationship
APPRAISAL PRACTICE: - Answer✔valuation services performed by an individual acting as an
appraiser, including but not limited to appraisal and appraisal review.
APPRAISAL REVIEW - Answer✔(noun) the act or process of developing an opinion about the
quality of another appraiser's work that was performed as part of an appraisal or appraisal
review assignment
APPRAISAL REVIEW - Answer✔(adjective) of or pertaining to an opinion about the quality of
another appraiser's work that was performed as part of an appraisal or appraisal review
assignment.
Comment: The subject of an _______ _________ assignment may be all or part of a report,
workfile, or a
1
, ©FYNDLAY 2025 ALL RIGHTS RESERVED 5:17 PM A+
combination of these.
APPRAISER: - Answer✔one who is expected to perform valuation services competently and in a
manner that is independent, impartial, and objective.
Comment: Such expectation occurs when individuals, either by choice or by requirement placed
upon them or upon the service they provide by law, regulation, or agreement with the client or
intended users, represent that they comply.
APPRAISER'S PEERS - Answer✔other appraisers who have expertise and competency in a similar
type of assignment.
ASSIGNMENT: - Answer✔a valuation service that is provided by an appraiser as a consequence
of an agreement with a client.
ASSIGNMENT CONDITIONS: - Answer✔Assumptions, extraordinary assumptions, hypothetical
conditions, laws and regulations, jurisdictional exceptions, and other conditions that affect the
scope of work.
Comment: Laws include constitutions, legislative and court-made law, administrative rules, and
ordinances.
Regulations include rules or orders, having legal force, issued by an administrative agency.
ASSIGNMENT RESULTS - Answer✔An appraiser's opinions or conclusions developed specific to
an assignment.
Comment: _______ _________ include an appraiser's:
• opinions or conclusions developed in an appraisal assignment, not limited to value;
• opinions or conclusions, developed in an appraisal review assignment, not limited to an
opinion about the quality of another appraiser's work; or
2
