15 Hour USPAP Test Questions With
Verified Answers
\Q\.What establishes minimum criteria for real property appraiser certification and licensing? -
ANSWERS✔-AQB
\Q\.USPAP is enforced by - ANSWERS✔-State regulatory agencies and professional appraisal
organizations.
\Q\.Why are Advisory opinions issued? - ANSWERS✔-to illustrate the applicability of appraisal
standards
\Q\.What best describes a Comment to a Standards Rule? - ANSWERS✔-it is an integral part of
the Standards Rule.
\Q\.What is an example of an assignment condition? - ANSWERS✔-Extraordinary assumption
\Q\.An appraiser has received an assignment to appraise several collections where only one
representative piece is available to be viewed for each collection. The appraiser has been
advised that the collections are complete. The appraiser agrees to perform the assignment. The
report MUST include the disclosure of the the use of: - ANSWERS✔-Hypothetical conditions
\Q\.Appraisal practice is defined as - ANSWERS✔-valuation services performed by an individual
acting as an appraiser.
, \Q\.Credibility is judged in the context of the - ANSWERS✔-intended use
\Q\.Credibility is defined as - ANSWERS✔-Worthy of belief
\Q\.The parties or party who engage an appraiser in a specific assignment defines the -
ANSWERS✔-client
\Q\.A tangible object that is not real estate is - ANSWERS✔-personal property
\Q\.Under USPAP, confidential information that is classified as confidential or private by law or
regulation or information the appraiser: - ANSWERS✔-Receives from the client and is identified
by the client as confidential and is not available from any other sources.
\Q\.That which is contrary to what is known by the appraiser to exist on the effective date of the
assignment results, but is supposed for the purpose of analysis is: - ANSWERS✔-hypothetical
condition
\Q\.The purpose of USPAP is to: - ANSWERS✔-promote and maintain a high level of public trust
\Q\.An appraiser is asked to submit an estimate of the cost of construction for a proposed new
house to a lender. This is: - ANSWERS✔-an appraisal subject to a hypothetical condition.
\Q\.An appraiser agrees to prepare a market study for a client. The study will analyze supply and
demand for a property but will not include a value opinion. The assignment is: - ANSWERS✔-
Appraisal practices with no Standards Rule.
\Q\.The appraiser must perform assignments with: - ANSWERS✔-Impartially, objectivity, and
independence without accommodation of personal interests.
Verified Answers
\Q\.What establishes minimum criteria for real property appraiser certification and licensing? -
ANSWERS✔-AQB
\Q\.USPAP is enforced by - ANSWERS✔-State regulatory agencies and professional appraisal
organizations.
\Q\.Why are Advisory opinions issued? - ANSWERS✔-to illustrate the applicability of appraisal
standards
\Q\.What best describes a Comment to a Standards Rule? - ANSWERS✔-it is an integral part of
the Standards Rule.
\Q\.What is an example of an assignment condition? - ANSWERS✔-Extraordinary assumption
\Q\.An appraiser has received an assignment to appraise several collections where only one
representative piece is available to be viewed for each collection. The appraiser has been
advised that the collections are complete. The appraiser agrees to perform the assignment. The
report MUST include the disclosure of the the use of: - ANSWERS✔-Hypothetical conditions
\Q\.Appraisal practice is defined as - ANSWERS✔-valuation services performed by an individual
acting as an appraiser.
, \Q\.Credibility is judged in the context of the - ANSWERS✔-intended use
\Q\.Credibility is defined as - ANSWERS✔-Worthy of belief
\Q\.The parties or party who engage an appraiser in a specific assignment defines the -
ANSWERS✔-client
\Q\.A tangible object that is not real estate is - ANSWERS✔-personal property
\Q\.Under USPAP, confidential information that is classified as confidential or private by law or
regulation or information the appraiser: - ANSWERS✔-Receives from the client and is identified
by the client as confidential and is not available from any other sources.
\Q\.That which is contrary to what is known by the appraiser to exist on the effective date of the
assignment results, but is supposed for the purpose of analysis is: - ANSWERS✔-hypothetical
condition
\Q\.The purpose of USPAP is to: - ANSWERS✔-promote and maintain a high level of public trust
\Q\.An appraiser is asked to submit an estimate of the cost of construction for a proposed new
house to a lender. This is: - ANSWERS✔-an appraisal subject to a hypothetical condition.
\Q\.An appraiser agrees to prepare a market study for a client. The study will analyze supply and
demand for a property but will not include a value opinion. The assignment is: - ANSWERS✔-
Appraisal practices with no Standards Rule.
\Q\.The appraiser must perform assignments with: - ANSWERS✔-Impartially, objectivity, and
independence without accommodation of personal interests.
