USPAP EXAM, FINAL EXAM, PRACTICE EXAM AND COURSE
EXAM LATEST ACTUAL EXAM TEST WITH QUESTIONS AND
CORRECT DETAILED ANSWERS | GRADED A+
The Preamble states that USPAP is - ANSWER for appraisers and users of appraisal services.
The stated purpose of USPAP - ANSWER Promote and maintain a high level of public trust in appraisal
practice.
When obligated by law or regulation an appraiser must - ANSWER comply with USPAP.
USPAP applies to which types of properties? - ANSWER Tangible and Intangible
Valuation services - ANSWER is not a subset of appraisal practice.
An appraiser has the professional responsibility - ANSWER to identify the capacity in which he or she
is performing.
Reasons why an appraiser would prepare an appraisal assignment in conformance with USPAP -
ANSWER 1. Agreement with client.
2. Law or regulation.
3. Voluntary choice.
An appraiser who provides an appraisal service that is not an appraisal, appraisal review, or appraisal
consulting assignment does not have workfile obligations associated with the assignment. - ANSWER
True
An individual is not prohibited from providing valuation services that involve advocacy while acting
as an appraiser. - ANSWER False
When performing valuation services outside of appraisal practice, appraisers must be careful not to
_________________ the client and other intended users about their role. - ANSWER Mislead
, 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 acting as an appraiser.
An appraiser is engaged to teach an appraisal course. What parts of USPAP apply? - ANSWER The
parts of USPAP that apply generally to appraisal practice.
The Appraisal Practices Board (APB) was created when? - ANSWER 2010
The APB is a(n) - ANSWER independent board.
Boards within The Appraisal Foundation (TAF) - ANSWER 1. Board of Trustees (BOT)
2. Appraisal Standards Board (ASB)
3. Appraisal Qualifications Board (AQB)
4. Appraisal Practices Board (APB)
APB is a - ANSWER private entity.
The APB has authority to enforce the requirements of USPAP. - ANSWER False
Who has the only jurisdiction and authority over appraisers? - ANSWER States
ASB - ANSWER Develops, interprets, and amends USPAP.
Advisory opinions - ANSWER Not part of USPAP; reference material only.
APB - ANSWER Guidance is voluntary.
ASC - ANSWER Maintains the official National Registry of state certified and licensed appraisers.
State appraisal regulatory committees - ANSWER responsible for issuing credentials to individual
appraisers.
EXAM LATEST ACTUAL EXAM TEST WITH QUESTIONS AND
CORRECT DETAILED ANSWERS | GRADED A+
The Preamble states that USPAP is - ANSWER for appraisers and users of appraisal services.
The stated purpose of USPAP - ANSWER Promote and maintain a high level of public trust in appraisal
practice.
When obligated by law or regulation an appraiser must - ANSWER comply with USPAP.
USPAP applies to which types of properties? - ANSWER Tangible and Intangible
Valuation services - ANSWER is not a subset of appraisal practice.
An appraiser has the professional responsibility - ANSWER to identify the capacity in which he or she
is performing.
Reasons why an appraiser would prepare an appraisal assignment in conformance with USPAP -
ANSWER 1. Agreement with client.
2. Law or regulation.
3. Voluntary choice.
An appraiser who provides an appraisal service that is not an appraisal, appraisal review, or appraisal
consulting assignment does not have workfile obligations associated with the assignment. - ANSWER
True
An individual is not prohibited from providing valuation services that involve advocacy while acting
as an appraiser. - ANSWER False
When performing valuation services outside of appraisal practice, appraisers must be careful not to
_________________ the client and other intended users about their role. - ANSWER Mislead
, 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 acting as an appraiser.
An appraiser is engaged to teach an appraisal course. What parts of USPAP apply? - ANSWER The
parts of USPAP that apply generally to appraisal practice.
The Appraisal Practices Board (APB) was created when? - ANSWER 2010
The APB is a(n) - ANSWER independent board.
Boards within The Appraisal Foundation (TAF) - ANSWER 1. Board of Trustees (BOT)
2. Appraisal Standards Board (ASB)
3. Appraisal Qualifications Board (AQB)
4. Appraisal Practices Board (APB)
APB is a - ANSWER private entity.
The APB has authority to enforce the requirements of USPAP. - ANSWER False
Who has the only jurisdiction and authority over appraisers? - ANSWER States
ASB - ANSWER Develops, interprets, and amends USPAP.
Advisory opinions - ANSWER Not part of USPAP; reference material only.
APB - ANSWER Guidance is voluntary.
ASC - ANSWER Maintains the official National Registry of state certified and licensed appraisers.
State appraisal regulatory committees - ANSWER responsible for issuing credentials to individual
appraisers.
