USPAP EXAM QUESTIONS WITH 100%
VERIFIED ANSWERS
\Q\.The party who engages an appraiser is the ____-ANSWERS-Client
\Q\.Assumes conditions contrary to a known fact-ANSWERS-Hypothetical condition
\Q\.Services performed by an individual acting as an appraiser-ANSWERS-Appraisal Practice
\Q\.Documents the support for the appraiser's conclusions-ANSWERS-Work file
\Q\.Presumes as fact otherwise uncertain information-ANSWERS-Extraordinary assumption
\Q\.A preference that precludes an appraiser's impartiality-ANSWERS-Bias
\Q\.The amount asked, offered, or paid for property-ANSWERS-Price
\Q\.Services pertaining to aspects of property value-ANSWERS-Valuation Services
\Q\.The act or process of developing an opinion of value-ANSWERS-Appraisal
\Q\.An opinoin that expresses an economic concept-ANSWERS-Value
, \Q\._____ is the valuation service performed by an individual acting in the role of an appraiser-
ANSWERS-Appraisal practice
\Q\.When performing valuation services outside appraisal practice, appraisers must be careful
not to ____ the client and other intended users about their role.-ANSWERS-Mislead
\Q\.For assignments (Appraisal Practice) that fall outside Standards 1–10, there are no ____ or
____ requirements in the USPAP.-ANSWERS-Workfile or record keeping
\Q\.What appraisal services are covered by USPAP?-ANSWERS-Appraisal
Appraisal review
\Q\.When an appraiser JUST measures a building, the service is within ___ and has no specific
performance requirements in USPAP.-ANSWERS-Appraisal practice
\Q\.True or False: If an individual who is both a broker and an appraiser provides a "value"
opinion for a specific property to be used in a listing agreement, the service is always outside
appraisal practice.-ANSWERS-False
\Q\.True or False: An individual must comply with USPAP when required by law, regulation, or
agreement.-ANSWERS-True
\Q\.True or False: Appraisal practice pertains only to market value appraisals-ANSWERS-True
\Q\.True or False: An appraiser has a professional responsibility to identify the capacity in which
he or she is performing.-ANSWERS-True
\Q\.True or False: The purpose of USPAP is to promote and maintain a high level of public trust
in professional appraisal practice.-ANSWERS-True
VERIFIED ANSWERS
\Q\.The party who engages an appraiser is the ____-ANSWERS-Client
\Q\.Assumes conditions contrary to a known fact-ANSWERS-Hypothetical condition
\Q\.Services performed by an individual acting as an appraiser-ANSWERS-Appraisal Practice
\Q\.Documents the support for the appraiser's conclusions-ANSWERS-Work file
\Q\.Presumes as fact otherwise uncertain information-ANSWERS-Extraordinary assumption
\Q\.A preference that precludes an appraiser's impartiality-ANSWERS-Bias
\Q\.The amount asked, offered, or paid for property-ANSWERS-Price
\Q\.Services pertaining to aspects of property value-ANSWERS-Valuation Services
\Q\.The act or process of developing an opinion of value-ANSWERS-Appraisal
\Q\.An opinoin that expresses an economic concept-ANSWERS-Value
, \Q\._____ is the valuation service performed by an individual acting in the role of an appraiser-
ANSWERS-Appraisal practice
\Q\.When performing valuation services outside appraisal practice, appraisers must be careful
not to ____ the client and other intended users about their role.-ANSWERS-Mislead
\Q\.For assignments (Appraisal Practice) that fall outside Standards 1–10, there are no ____ or
____ requirements in the USPAP.-ANSWERS-Workfile or record keeping
\Q\.What appraisal services are covered by USPAP?-ANSWERS-Appraisal
Appraisal review
\Q\.When an appraiser JUST measures a building, the service is within ___ and has no specific
performance requirements in USPAP.-ANSWERS-Appraisal practice
\Q\.True or False: If an individual who is both a broker and an appraiser provides a "value"
opinion for a specific property to be used in a listing agreement, the service is always outside
appraisal practice.-ANSWERS-False
\Q\.True or False: An individual must comply with USPAP when required by law, regulation, or
agreement.-ANSWERS-True
\Q\.True or False: Appraisal practice pertains only to market value appraisals-ANSWERS-True
\Q\.True or False: An appraiser has a professional responsibility to identify the capacity in which
he or she is performing.-ANSWERS-True
\Q\.True or False: The purpose of USPAP is to promote and maintain a high level of public trust
in professional appraisal practice.-ANSWERS-True
