USPAP study guide exam questions
and answers3
Standards 1-10 - ANSWERS-Address value, not price
Advisory Opinions - ANSWERS-Are issued to illustrate the applicability of appraisal standards in
specific situations and to offer advice from the ASB for the resolution of appraisal issues and
problems.
Appraisal Practice - ANSWERS-Performed only by the appraiser
An opinion that expresses an economic concept - ANSWERS-Value
Compliance with USPAP is required when either the service or the appraiser is obligated to
comply by - ANSWERS-Law
Regulation
Agreement (with the client or other intended user)
When not obligated, individuals may still choose to comply.
Valuation Services - ANSWERS-Services pertaining to aspects of property value
A valuation service based on advocacy or compensation arrangements that are contrary to the
ethics rule... - ANSWERS-cannot be performed by an individual acting as an appraiser
An individual must comply with USPAP when required by law, regulations, or agreement. -
ANSWERS-True
and answers3
Standards 1-10 - ANSWERS-Address value, not price
Advisory Opinions - ANSWERS-Are issued to illustrate the applicability of appraisal standards in
specific situations and to offer advice from the ASB for the resolution of appraisal issues and
problems.
Appraisal Practice - ANSWERS-Performed only by the appraiser
An opinion that expresses an economic concept - ANSWERS-Value
Compliance with USPAP is required when either the service or the appraiser is obligated to
comply by - ANSWERS-Law
Regulation
Agreement (with the client or other intended user)
When not obligated, individuals may still choose to comply.
Valuation Services - ANSWERS-Services pertaining to aspects of property value
A valuation service based on advocacy or compensation arrangements that are contrary to the
ethics rule... - ANSWERS-cannot be performed by an individual acting as an appraiser
An individual must comply with USPAP when required by law, regulations, or agreement. -
ANSWERS-True
