USPAP EXAM, FINAL EXAM, PRACTICE EXAM AND COURSE EXAM
LATEST ACTUAL EXAM TEST WITH QUESTIONS AND CORRECT
DETAILED ANSWERS | GRADED A+
USPAP Advisory Opinions are considered by the ASB to be: - ANSWER Other communications, and
not part of USPAP
The new edition of USPAP has been released. Which statement is true regarding the effective date of
this new edition of USPAP? - ANSWER The ASB determines when the edition of USPAP will be
effective.
The ending effective date for the 2024 edition of USPAP is: - ANSWER To be determined
Is there a difference between a Discussion Draft and an Exposure Draft, and if so, what is the
difference? - ANSWER An exposure draft is a formal proposal to revise USPAP, while a discussion draft
merely solicits feedback from industry participants.
You send the ASB a letter with a comment regarding a proposed change to USPAP. Who will read it? -
ANSWER all members of the ASB
The ASB has issued an exposure draft of proposed changes to USPAP. What must occur before these
proposed changes may be made to USPAP? - ANSWER The proposed changes must be discussed and
adopted at a public meeting
A stakeholder in the appraisal profession wants to participate in the USPAP revision process but does
not have the time to travel to attend ASB meetings in person. What is this individual's best option? -
ANSWER Register for ASB meetings and livestream them on their computer.
The PREAMBLE states that USPAP is promulgated for: - ANSWER Appraisers and users of appraisal
services
The primary purpose of USPAP is: - ANSWER Promoting and preserving public trust in appraisal
practice.
_______ change is one of the reasons why the ASB added the Nondiscrimination section to the
ETHICS RULE. - ANSWER Social
, With regard to prohibitions on bias and discrimination, the revisions to the current edition of USPAP
were made in order to: - ANSWER Make existing prohibitions clearer and more direct
Which statement regarding bias and USPAP is TRUE? - ANSWER USPAP has always prohibited
appraisers from performing an assignment with bias.
Which term is defined in federal regulations as "a residential structure that contains one to four living
units whether or not that structure is attached to real property"? - ANSWER Dwelling
Which of the following is NOT a federal antidiscrimination law that is specifically referenced in the
Nondiscrimination section of the ETHICS RULE? - ANSWER Dodd-Frank Act
An appraiser is required to be knowledgeable of, and comply with, ____________ antidiscrimination
laws and regulations - ANSWER Federal, state, and local
An appraiser agrees to perform an appraisal assignment on a residential property for mortgage
lending. The assignment comes to the appraiser through an appraisal management company (AMC).
Who is responsible for determining what antidiscrimination laws apply to the assignment? - ANSWER
The appraiser
In a real estate lending situation, an individual employs what they believe are neutral policies or
practices, however these policies are later found to disproportionately harm members of a protected
group. This individual may be guilty of a fair housing violation under the concept of disparate: -
ANSWER impact
An appraiser does not want to provide subjective statements in their appraisal reports, so they
research the U.S. Census Bureau for demographic information. They then include in each appraisal
report, a page with a printout of information from the Census Bureau, which includes the racial and
ethnic makeup of the market area. Since the information came from the Census Bureau, which is
part of the federal government, may the appraiser use or rely on this data in valuing the subject
property for a federally regulated lending transaction? - ANSWER No, in most instances, an appraiser
is prohibited from using or relying on this information about protected characteristics
An appraiser is offered the opportunity to perform an appraisal assignment on a residence in a
market area with which the appraiser is geographically competent. However, the appraiser discovers
the client is a member of a racial minority group and declines to perform the appraisal. Does USPAP
permit the appraiser to refuse to enter into an agreement to perform an assignment based on the
LATEST ACTUAL EXAM TEST WITH QUESTIONS AND CORRECT
DETAILED ANSWERS | GRADED A+
USPAP Advisory Opinions are considered by the ASB to be: - ANSWER Other communications, and
not part of USPAP
The new edition of USPAP has been released. Which statement is true regarding the effective date of
this new edition of USPAP? - ANSWER The ASB determines when the edition of USPAP will be
effective.
The ending effective date for the 2024 edition of USPAP is: - ANSWER To be determined
Is there a difference between a Discussion Draft and an Exposure Draft, and if so, what is the
difference? - ANSWER An exposure draft is a formal proposal to revise USPAP, while a discussion draft
merely solicits feedback from industry participants.
You send the ASB a letter with a comment regarding a proposed change to USPAP. Who will read it? -
ANSWER all members of the ASB
The ASB has issued an exposure draft of proposed changes to USPAP. What must occur before these
proposed changes may be made to USPAP? - ANSWER The proposed changes must be discussed and
adopted at a public meeting
A stakeholder in the appraisal profession wants to participate in the USPAP revision process but does
not have the time to travel to attend ASB meetings in person. What is this individual's best option? -
ANSWER Register for ASB meetings and livestream them on their computer.
The PREAMBLE states that USPAP is promulgated for: - ANSWER Appraisers and users of appraisal
services
The primary purpose of USPAP is: - ANSWER Promoting and preserving public trust in appraisal
practice.
_______ change is one of the reasons why the ASB added the Nondiscrimination section to the
ETHICS RULE. - ANSWER Social
, With regard to prohibitions on bias and discrimination, the revisions to the current edition of USPAP
were made in order to: - ANSWER Make existing prohibitions clearer and more direct
Which statement regarding bias and USPAP is TRUE? - ANSWER USPAP has always prohibited
appraisers from performing an assignment with bias.
Which term is defined in federal regulations as "a residential structure that contains one to four living
units whether or not that structure is attached to real property"? - ANSWER Dwelling
Which of the following is NOT a federal antidiscrimination law that is specifically referenced in the
Nondiscrimination section of the ETHICS RULE? - ANSWER Dodd-Frank Act
An appraiser is required to be knowledgeable of, and comply with, ____________ antidiscrimination
laws and regulations - ANSWER Federal, state, and local
An appraiser agrees to perform an appraisal assignment on a residential property for mortgage
lending. The assignment comes to the appraiser through an appraisal management company (AMC).
Who is responsible for determining what antidiscrimination laws apply to the assignment? - ANSWER
The appraiser
In a real estate lending situation, an individual employs what they believe are neutral policies or
practices, however these policies are later found to disproportionately harm members of a protected
group. This individual may be guilty of a fair housing violation under the concept of disparate: -
ANSWER impact
An appraiser does not want to provide subjective statements in their appraisal reports, so they
research the U.S. Census Bureau for demographic information. They then include in each appraisal
report, a page with a printout of information from the Census Bureau, which includes the racial and
ethnic makeup of the market area. Since the information came from the Census Bureau, which is
part of the federal government, may the appraiser use or rely on this data in valuing the subject
property for a federally regulated lending transaction? - ANSWER No, in most instances, an appraiser
is prohibited from using or relying on this information about protected characteristics
An appraiser is offered the opportunity to perform an appraisal assignment on a residence in a
market area with which the appraiser is geographically competent. However, the appraiser discovers
the client is a member of a racial minority group and declines to perform the appraisal. Does USPAP
permit the appraiser to refuse to enter into an agreement to perform an assignment based on the
