USPAP EXAM, FINAL EXAM, PRACTICE EXAM AND COURSE
EXAM LATEST ACTUAL EXAM TEST WITH QUESTIONS AND
CORRECT DETAILED ANSWERS | GRADED A+
The PREAMBLE states the purpose of USPAP is to maintain public ___ in the appraisal practice by
establishing requirements for appraisers. - ANSWER trust
USPAP benefits providers of appraisal services and - ANSWER users of appraisal services.
Which is NOT considered significant real property appraisal assistance? - ANSWER collecting
employment data for use in analysis
A valuation service performed by an individual acting as an appraiser requires the appraiser to -
ANSWER inquire about the intended user's expectations.
When an individual is performing valuation services outside of appraisal practice, that individual
must be careful to - ANSWER not misrepresent his role.
When choosing to provide a valuation service as an appraiser or in some other capacity, great care
must be taken to - ANSWER maintain public trust.
A real property appraiser teaching appraisal is engaged in - ANSWER appraisal practice with no
applicable Standards (1-10).
A lender has telephoned an appraiser to determine the high and low sales prices in the past year that
took place in the Green Hills Subdivision. No mention was made of a subject property by the lender.
The appraiser has supplied a list of all of the sales within the past year in the subdivision and billed
the lender for service. The service being provided by the appraiser is - ANSWER appraisal practice
with no performance standards or record keeping requirements.
In accordance with USPAP, which is NOT an expectation when acting in the role of an appraiser? -
ANSWER holding a state license or certification
Compliance with USPAP is required when obligated by - ANSWER agreement, law, or regulation.
, When an appraiser is providing a service other than an appraisal or appraisal review, which would
NOT apply? - ANSWER RECORD KEEPING RULE
Zachary's client instructs him to report a specific property value as a condition of the assignment.
The assignment - ANSWER is a violation of the ETHICS RULE.
Which of these activities does the Conduct section of the ETHICS RULE prohibit? - ANSWER criminal
conduct
Jack appraised a residential dwelling that is located across the street from a factory that he
determined is negatively affecting the value of the subject property. Jack applied a location
adjustment in his sales comparison approach. However, the client asked that the factory not be
discussed in the appraisal report. Since Jack addressed the condition with an adjustment, has he
complied with USPAP? - ANSWER no, omitting the discussion could produce a misleading report
Anthony received an appraisal assignment for a property that was previously appraised by him. He
understands that be must handle confidential information appropriately. What else must Anthony
do? - ANSWER make proper disclosure regarding the prior assignment
Marcus was hired to appraise a home that be had previously appraised one year ago. May Marcus
accept the assignment? - ANSWER yes, as long as he discloses the previous service on the property to
the client and in the subsequent report certification
A real property appraiser has paid a fee to procure an appraisal assignment. According to the
Management section of the ETHICS RULE, where must the fee be disclosed? - ANSWER in the
certification and any transmittal letter
Josh received an appraisal request from a lender-client who told him, to immediately call if the value
on the property is less than the amount stipulated by the lender, as he doesn't intend to pay for an
appraisal that won't benefit his position. Will acceptance of this assignment be in compliance with
USPAP? - ANSWER no, an appraiser may not accept an assignment with unacceptable assignment
conditions
Which of the following would NOT be considered an unacceptable fee arrangement? - ANSWER fee
based on the volume of total business from a particular client
EXAM LATEST ACTUAL EXAM TEST WITH QUESTIONS AND
CORRECT DETAILED ANSWERS | GRADED A+
The PREAMBLE states the purpose of USPAP is to maintain public ___ in the appraisal practice by
establishing requirements for appraisers. - ANSWER trust
USPAP benefits providers of appraisal services and - ANSWER users of appraisal services.
Which is NOT considered significant real property appraisal assistance? - ANSWER collecting
employment data for use in analysis
A valuation service performed by an individual acting as an appraiser requires the appraiser to -
ANSWER inquire about the intended user's expectations.
When an individual is performing valuation services outside of appraisal practice, that individual
must be careful to - ANSWER not misrepresent his role.
When choosing to provide a valuation service as an appraiser or in some other capacity, great care
must be taken to - ANSWER maintain public trust.
A real property appraiser teaching appraisal is engaged in - ANSWER appraisal practice with no
applicable Standards (1-10).
A lender has telephoned an appraiser to determine the high and low sales prices in the past year that
took place in the Green Hills Subdivision. No mention was made of a subject property by the lender.
The appraiser has supplied a list of all of the sales within the past year in the subdivision and billed
the lender for service. The service being provided by the appraiser is - ANSWER appraisal practice
with no performance standards or record keeping requirements.
In accordance with USPAP, which is NOT an expectation when acting in the role of an appraiser? -
ANSWER holding a state license or certification
Compliance with USPAP is required when obligated by - ANSWER agreement, law, or regulation.
, When an appraiser is providing a service other than an appraisal or appraisal review, which would
NOT apply? - ANSWER RECORD KEEPING RULE
Zachary's client instructs him to report a specific property value as a condition of the assignment.
The assignment - ANSWER is a violation of the ETHICS RULE.
Which of these activities does the Conduct section of the ETHICS RULE prohibit? - ANSWER criminal
conduct
Jack appraised a residential dwelling that is located across the street from a factory that he
determined is negatively affecting the value of the subject property. Jack applied a location
adjustment in his sales comparison approach. However, the client asked that the factory not be
discussed in the appraisal report. Since Jack addressed the condition with an adjustment, has he
complied with USPAP? - ANSWER no, omitting the discussion could produce a misleading report
Anthony received an appraisal assignment for a property that was previously appraised by him. He
understands that be must handle confidential information appropriately. What else must Anthony
do? - ANSWER make proper disclosure regarding the prior assignment
Marcus was hired to appraise a home that be had previously appraised one year ago. May Marcus
accept the assignment? - ANSWER yes, as long as he discloses the previous service on the property to
the client and in the subsequent report certification
A real property appraiser has paid a fee to procure an appraisal assignment. According to the
Management section of the ETHICS RULE, where must the fee be disclosed? - ANSWER in the
certification and any transmittal letter
Josh received an appraisal request from a lender-client who told him, to immediately call if the value
on the property is less than the amount stipulated by the lender, as he doesn't intend to pay for an
appraisal that won't benefit his position. Will acceptance of this assignment be in compliance with
USPAP? - ANSWER no, an appraiser may not accept an assignment with unacceptable assignment
conditions
Which of the following would NOT be considered an unacceptable fee arrangement? - ANSWER fee
based on the volume of total business from a particular client
