USPAP EXAM, FINAL EXAM, PRACTICE EXAM AND COURSE
EXAM LATEST ACTUAL EXAM TEST WITH QUESTIONS AND
CORRECT DETAILED ANSWERS | GRADED A+
Currently, the boards within The Appraisal Foundation include: - ANSWER Appraisal Standards Board,
Appraiser Qualifications Board, Board of Trustees
Which Foundation board is responsible for USPAP? - ANSWER Appraisal Standards Board (ASB)
Which entity appoints members of the AQB and ASB? - ANSWER Board of Trustees (BOT)
Qualification criteria for appraiser certification and recertification are disseminated to state appraisal
board by the? - ANSWER Appraiser Qualifications Board
Which entity is responsible for establishing education and experience requirements for licensing and
certification of appraisers? - ANSWER Appraiser Qualifications Board (AQB)
USPAP is written, amended, and interpreted by the: - ANSWER Appraisal Standards Board (ASB)
Advisory Opinions are best described as - ANSWER not part of USPAP, but included as reference
material
Which entity maintains the official National Registry of state-certified and licensed appraisers? -
ANSWER Appraisal Subcommittee (ASC)
USPAP is enforced by: - ANSWER State appraiser licensing/certification agencies
Who is responsible for issuing credentials to individual appraisers - ANSWER State appraisal regulatory
agencies
Which is not a responsibility of the Appraisal Subcommittee - ANSWER Writing, interpreting, and
amending USPAP
, Which part of USPAP establishes the requirements for workfile content for an appraisal or appraisal
review assignment? - ANSWER RECORD KEEPING RULE
Why are USPAP Advisory Opinions issued? - ANSWER offer advice
Which of these is considered an integral part of USPAP and has the same weight as the components
they address? - ANSWER comments
In USPAP the appraisal process is divided into two distinct types of activity______ and ______? -
ANSWER Development and Reporting
The first step in the appraisal process is ? - ANSWER Identify the problem
Which step in the appraisal process involves communication of the appraiser's opinions and
conclusions? - ANSWER reporting
What is the stated purpose of USPAP - ANSWER Promote and maintain a high level of public trust in
appraisal practice
To which property types does USPAP apply - ANSWER Both tangible and intangible property
The preamble states that USPAP intended to benefit - ANSWER Appraisers and users of appraisal
services
USPAP states that in a situation when an individual is not required by law, regulation, or agreement
to comply with USPAP: - ANSWER The individual should still comply when he or she is acting as an
appraiser
A valuation service that is premised upon advocacy: - ANSWER It cannot be performed by an
individual acting as an appraiser
A preference or inclination that precludes an appraiser's impartiality, independence, or objectivity is:
- ANSWER bias
EXAM LATEST ACTUAL EXAM TEST WITH QUESTIONS AND
CORRECT DETAILED ANSWERS | GRADED A+
Currently, the boards within The Appraisal Foundation include: - ANSWER Appraisal Standards Board,
Appraiser Qualifications Board, Board of Trustees
Which Foundation board is responsible for USPAP? - ANSWER Appraisal Standards Board (ASB)
Which entity appoints members of the AQB and ASB? - ANSWER Board of Trustees (BOT)
Qualification criteria for appraiser certification and recertification are disseminated to state appraisal
board by the? - ANSWER Appraiser Qualifications Board
Which entity is responsible for establishing education and experience requirements for licensing and
certification of appraisers? - ANSWER Appraiser Qualifications Board (AQB)
USPAP is written, amended, and interpreted by the: - ANSWER Appraisal Standards Board (ASB)
Advisory Opinions are best described as - ANSWER not part of USPAP, but included as reference
material
Which entity maintains the official National Registry of state-certified and licensed appraisers? -
ANSWER Appraisal Subcommittee (ASC)
USPAP is enforced by: - ANSWER State appraiser licensing/certification agencies
Who is responsible for issuing credentials to individual appraisers - ANSWER State appraisal regulatory
agencies
Which is not a responsibility of the Appraisal Subcommittee - ANSWER Writing, interpreting, and
amending USPAP
, Which part of USPAP establishes the requirements for workfile content for an appraisal or appraisal
review assignment? - ANSWER RECORD KEEPING RULE
Why are USPAP Advisory Opinions issued? - ANSWER offer advice
Which of these is considered an integral part of USPAP and has the same weight as the components
they address? - ANSWER comments
In USPAP the appraisal process is divided into two distinct types of activity______ and ______? -
ANSWER Development and Reporting
The first step in the appraisal process is ? - ANSWER Identify the problem
Which step in the appraisal process involves communication of the appraiser's opinions and
conclusions? - ANSWER reporting
What is the stated purpose of USPAP - ANSWER Promote and maintain a high level of public trust in
appraisal practice
To which property types does USPAP apply - ANSWER Both tangible and intangible property
The preamble states that USPAP intended to benefit - ANSWER Appraisers and users of appraisal
services
USPAP states that in a situation when an individual is not required by law, regulation, or agreement
to comply with USPAP: - ANSWER The individual should still comply when he or she is acting as an
appraiser
A valuation service that is premised upon advocacy: - ANSWER It cannot be performed by an
individual acting as an appraiser
A preference or inclination that precludes an appraiser's impartiality, independence, or objectivity is:
- ANSWER bias
