QSP COURSE 2026 PRACTICE QUESTION SET
TWO
◉ The payment of fees by the appraiser in connection with the
procurement of an assignment is. Answer: allowed if properly
disclosed.
◉ Confidential information is under USPAP is information the
appraiser receives from. Answer: the client an dis identified as
confidential, but is not available from other sources.
◉ The disclosure of confidential information to a third party is
unethical unless. Answer: authorized by the client.
◉ Competency. Answer: fundamental to the definition of appraiser.
◉ An appraiser must obtain the necessary competency prior to
accepting the assignment.. Answer: False
◉ In order to accept an assignment when an appraise initially lacks
the knowledge and experience to complete an assignment
competently he must. Answer: Disclose to the client, prior to
accepting, the lack of knowledge or experience.
,◉ USPAP ________________ permit an appraiser to create a workfile
after transmitting the report to the client.. Answer: does not
◉ An appraiser prepared an appraisal report in April 2009. He
testified in court regarding the value of the property in January
2010. The decision was rendered in February 2010 and was
appealed in March 2010. The appellate court heard the case in
January 2011 and remanded the case for reconsideration by the
lower court final disposition of the case occurred in Sept 2011. At a
minimum, how long must the appraiser retain his workfile?. Answer:
April 2014
◉ Three appraisers work together on an appraisal consulting
assignment. What would NOT be an appropriate workfile
arrangement under USPAP?. Answer: The workfile is posted on the
internet,s o that anyone who wants to see it will be able to see it.
◉ Trainer appraiser have the same workfile obligations under
USPAP as certified or licensed appraisers.. Answer: True
◉ An appraiser's peers. Answer: Others who have expertise and
competency in a similar type of assignment.
◉ Scope of Work in USPAP. Answer: The report must contain
sufficient information so that intended users understand the scope
of work.
, ◉ Scope of work decision. Answer: Exclusion of an approach that is
not necessary for credible, results in a given assignment.
◉ Jurisdictional exception in an assignment. Answer: Identify the
law, comply with the laws, disclose in the report the part of USPAP
that is voided, and cite in the report the law that caused it.
◉ Comply with the law or regulation. Answer: When a law or
regulation precludes compliance with any part of USPAP, appraisers
must.
◉ Purpose of the Jurisdictional exclusion rule. Answer: To provide a
saving or severability clause to preserve the balance of USPAP.
◉ True. Answer: If USPAP compliance is mandated by federal law, no
state or local law can create a jurisdictional exclusion.
◉ Jurisdictional exclusion rule term "law". Answer: Legislative law,
court-made laws, and administrative rules and ordinances.
◉ False. Answer: Appraisers cannot be expected to be aware of all of
the laws and regulations that apply to a particular assignment.
TWO
◉ The payment of fees by the appraiser in connection with the
procurement of an assignment is. Answer: allowed if properly
disclosed.
◉ Confidential information is under USPAP is information the
appraiser receives from. Answer: the client an dis identified as
confidential, but is not available from other sources.
◉ The disclosure of confidential information to a third party is
unethical unless. Answer: authorized by the client.
◉ Competency. Answer: fundamental to the definition of appraiser.
◉ An appraiser must obtain the necessary competency prior to
accepting the assignment.. Answer: False
◉ In order to accept an assignment when an appraise initially lacks
the knowledge and experience to complete an assignment
competently he must. Answer: Disclose to the client, prior to
accepting, the lack of knowledge or experience.
,◉ USPAP ________________ permit an appraiser to create a workfile
after transmitting the report to the client.. Answer: does not
◉ An appraiser prepared an appraisal report in April 2009. He
testified in court regarding the value of the property in January
2010. The decision was rendered in February 2010 and was
appealed in March 2010. The appellate court heard the case in
January 2011 and remanded the case for reconsideration by the
lower court final disposition of the case occurred in Sept 2011. At a
minimum, how long must the appraiser retain his workfile?. Answer:
April 2014
◉ Three appraisers work together on an appraisal consulting
assignment. What would NOT be an appropriate workfile
arrangement under USPAP?. Answer: The workfile is posted on the
internet,s o that anyone who wants to see it will be able to see it.
◉ Trainer appraiser have the same workfile obligations under
USPAP as certified or licensed appraisers.. Answer: True
◉ An appraiser's peers. Answer: Others who have expertise and
competency in a similar type of assignment.
◉ Scope of Work in USPAP. Answer: The report must contain
sufficient information so that intended users understand the scope
of work.
, ◉ Scope of work decision. Answer: Exclusion of an approach that is
not necessary for credible, results in a given assignment.
◉ Jurisdictional exception in an assignment. Answer: Identify the
law, comply with the laws, disclose in the report the part of USPAP
that is voided, and cite in the report the law that caused it.
◉ Comply with the law or regulation. Answer: When a law or
regulation precludes compliance with any part of USPAP, appraisers
must.
◉ Purpose of the Jurisdictional exclusion rule. Answer: To provide a
saving or severability clause to preserve the balance of USPAP.
◉ True. Answer: If USPAP compliance is mandated by federal law, no
state or local law can create a jurisdictional exclusion.
◉ Jurisdictional exclusion rule term "law". Answer: Legislative law,
court-made laws, and administrative rules and ordinances.
◉ False. Answer: Appraisers cannot be expected to be aware of all of
the laws and regulations that apply to a particular assignment.
