15 Hour Uspap Course Mckissock Learning
Exam Questions And 100% Correct Answers
\Q\.The Appraisal foundation has the authority to enforce the requirement of USPAP.-ANSWERS-
-False
\Q\.Currently the boards within the Appraisal Foundation include:-ANSWERS--The Appraisal
Standards Board (ASB), the Appraisal Qualification Boards (AQB), and the Board of Trustees
(BOT).
\Q\.Which foundation board is responsible for USPAP?-ANSWERS--The Appraisal Standards
Board (ASB)
\Q\.Qualifications criteria for appraiser certification and re–certification are disseminated to
state appraisal boards by the:-ANSWERS--Appraiser Qualifications Board (AQB)
\Q\.Which entity is responsible for establishing education and experience requirements for
licensing and certification of appraisers?-ANSWERS--Appraiser Qualifications Boards (AQB)
\Q\.Which entity appoints members to the AQB and ASB?-ANSWERS--The Boards of Trustees
(BOT)
\Q\.The USPAP is written, amended, and interpreted by:-ANSWERS--The Appraisal Standards
Board (ASB)
,\Q\.Advisory Opinions are best described as:-ANSWERS--Not part of the USPAP, but included as
reference material.
\Q\.Who is responsible for issuing credentials to individual appraisers?-ANSWERS--State
appraisal regulatory agencies
\Q\.USPAP is enforced by:-ANSWERS--State appraisal licensing and certification agencies.
\Q\.Which is NOT a responsibility of the Appraisal Subcommittee (ASC)?-ANSWERS--Writing,
interpreting, and amending the USPAP
[Answers listed that were a responsibility:
– maintaining a national registry of licensed and certified appraisers.
– Overseeing each state's appraiser licensing and certification programs.
– Monitoring the practices, procedures, and activities of the Appraisal Foundation]
\Q\.Which entity maintains the National Registry of State Certified or Licensed Appraisers?-
ANSWERS--The Appraisal Subcommittee (ASC)
\Q\.Which of these is considered an integral part of USPAP and has the same weight as the
components they address?-ANSWERS--Comments
\Q\.Why are USPAP Advisory Questions issued?-ANSWERS--To offer advice
, \Q\.Which part of USPAP establishes the requirements for workfile content for an appraisal or
appraisal review assignment?-ANSWERS--Record Keeping Rule
\Q\.In USPAP the appraisal process is divided into two distinct types of activities:-ANSWERS--
Development and reporting
\Q\.The first step in the appraisal process is:-ANSWERS--Identifying the problem
\Q\.Which step in the appraisal process involves communication of the appraisers opinions and
conclusions?-ANSWERS--Reporting
\Q\.When obligated by law or regulation, an appraiser _____ comply with USPAP.-ANSWERS--
Must
\Q\.Which is the stated purpose of USPAP?-ANSWERS--To promote and maintain a high level of
public trust in appraisal practice.
\Q\.The preamble states that the USPAP intended to benefit:-ANSWERS--Appraisers and users of
appraisals
\Q\.An appraiser has the professional responsibility to identify the capacity in which he/she is
performing?-ANSWERS--True
\Q\.The requirements for USPAP compliance in an appraisal assignment could be the result of:-
ANSWERS--Any of these
[laws or regulations, agreement with the client, or voluntary choice]
Exam Questions And 100% Correct Answers
\Q\.The Appraisal foundation has the authority to enforce the requirement of USPAP.-ANSWERS-
-False
\Q\.Currently the boards within the Appraisal Foundation include:-ANSWERS--The Appraisal
Standards Board (ASB), the Appraisal Qualification Boards (AQB), and the Board of Trustees
(BOT).
\Q\.Which foundation board is responsible for USPAP?-ANSWERS--The Appraisal Standards
Board (ASB)
\Q\.Qualifications criteria for appraiser certification and re–certification are disseminated to
state appraisal boards by the:-ANSWERS--Appraiser Qualifications Board (AQB)
\Q\.Which entity is responsible for establishing education and experience requirements for
licensing and certification of appraisers?-ANSWERS--Appraiser Qualifications Boards (AQB)
\Q\.Which entity appoints members to the AQB and ASB?-ANSWERS--The Boards of Trustees
(BOT)
\Q\.The USPAP is written, amended, and interpreted by:-ANSWERS--The Appraisal Standards
Board (ASB)
,\Q\.Advisory Opinions are best described as:-ANSWERS--Not part of the USPAP, but included as
reference material.
\Q\.Who is responsible for issuing credentials to individual appraisers?-ANSWERS--State
appraisal regulatory agencies
\Q\.USPAP is enforced by:-ANSWERS--State appraisal licensing and certification agencies.
\Q\.Which is NOT a responsibility of the Appraisal Subcommittee (ASC)?-ANSWERS--Writing,
interpreting, and amending the USPAP
[Answers listed that were a responsibility:
– maintaining a national registry of licensed and certified appraisers.
– Overseeing each state's appraiser licensing and certification programs.
– Monitoring the practices, procedures, and activities of the Appraisal Foundation]
\Q\.Which entity maintains the National Registry of State Certified or Licensed Appraisers?-
ANSWERS--The Appraisal Subcommittee (ASC)
\Q\.Which of these is considered an integral part of USPAP and has the same weight as the
components they address?-ANSWERS--Comments
\Q\.Why are USPAP Advisory Questions issued?-ANSWERS--To offer advice
, \Q\.Which part of USPAP establishes the requirements for workfile content for an appraisal or
appraisal review assignment?-ANSWERS--Record Keeping Rule
\Q\.In USPAP the appraisal process is divided into two distinct types of activities:-ANSWERS--
Development and reporting
\Q\.The first step in the appraisal process is:-ANSWERS--Identifying the problem
\Q\.Which step in the appraisal process involves communication of the appraisers opinions and
conclusions?-ANSWERS--Reporting
\Q\.When obligated by law or regulation, an appraiser _____ comply with USPAP.-ANSWERS--
Must
\Q\.Which is the stated purpose of USPAP?-ANSWERS--To promote and maintain a high level of
public trust in appraisal practice.
\Q\.The preamble states that the USPAP intended to benefit:-ANSWERS--Appraisers and users of
appraisals
\Q\.An appraiser has the professional responsibility to identify the capacity in which he/she is
performing?-ANSWERS--True
\Q\.The requirements for USPAP compliance in an appraisal assignment could be the result of:-
ANSWERS--Any of these
[laws or regulations, agreement with the client, or voluntary choice]
