USPAP Practice Test Questions and
Answers13
The PREAMBLE states the purpose of USPAP is to maintain public ___ in the appraisal practice
by establishing requirements for appraisers. - ANSWERS-trust
USPAP benefits providers of appraisal services and - ANSWERS-users of appraisal services.
Which is NOT considered significant real property appraisal assistance? - ANSWERS-collecting
employment data for use in analysis
A valuation service performed by an individual acting as an appraiser requires the appraiser to -
ANSWERS-inquire about the intended user's expectations.
When an individual is performing valuation services outside of appraisal practice, that individual
must be careful to - ANSWERS-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 - ANSWERS-maintain public trust.
A real property appraiser teaching appraisal is engaged in - ANSWERS-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 -
ANSWERS-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?
- ANSWERS-holding a state license or certification
Compliance with USPAP is required when obligated by - ANSWERS-agreement, law, or
regulation.
When an appraiser is providing a service other than an appraisal or appraisal review, which
would NOT apply? - ANSWERS-RECORD KEEPING RULE
Zachary's client instructs him to report a specific property value as a condition of the
assignment. The assignment - ANSWERS-is a violation of the ETHICS RULE.
Which of these activities does the Conduct section of the ETHICS RULE prohibit? - ANSWERS-
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? - ANSWERS-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? - ANSWERS-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? - ANSWERS-yes, as long as he discloses the previous service on
the property to the client and in the subsequent report certification
Answers13
The PREAMBLE states the purpose of USPAP is to maintain public ___ in the appraisal practice
by establishing requirements for appraisers. - ANSWERS-trust
USPAP benefits providers of appraisal services and - ANSWERS-users of appraisal services.
Which is NOT considered significant real property appraisal assistance? - ANSWERS-collecting
employment data for use in analysis
A valuation service performed by an individual acting as an appraiser requires the appraiser to -
ANSWERS-inquire about the intended user's expectations.
When an individual is performing valuation services outside of appraisal practice, that individual
must be careful to - ANSWERS-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 - ANSWERS-maintain public trust.
A real property appraiser teaching appraisal is engaged in - ANSWERS-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 -
ANSWERS-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?
- ANSWERS-holding a state license or certification
Compliance with USPAP is required when obligated by - ANSWERS-agreement, law, or
regulation.
When an appraiser is providing a service other than an appraisal or appraisal review, which
would NOT apply? - ANSWERS-RECORD KEEPING RULE
Zachary's client instructs him to report a specific property value as a condition of the
assignment. The assignment - ANSWERS-is a violation of the ETHICS RULE.
Which of these activities does the Conduct section of the ETHICS RULE prohibit? - ANSWERS-
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? - ANSWERS-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? - ANSWERS-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? - ANSWERS-yes, as long as he discloses the previous service on
the property to the client and in the subsequent report certification
