USPAP Practice Test Questions With Passed Solutions |
Updated
1. The PREAMBLE states the purpose of USPAP is to
maintain public in the appraisal practice by trust
estab- lishing requirements for appraisers.
2. USPAP benefits providers of appraisal services and users of appraisal ser-
vices.
3. Which is NOT considered significant real property
ap- praisal assistance? collecting employment
data for use in analysis
4. A valuation service performed by an individual
acting as an appraiser requires the appraiser to inquire about the intend-
5. When an individual is performing valuation ed user's expectations.
services outside of appraisal practice, that
individual must be careful to not misrepresent his role.
6. When choosing to provide a valuation service as
an appraiser or in some other capacity, great
care must be taken to
maintain public trust.
7. A real property appraiser teaching appraisal is
en- gaged in
8. A lender has telephoned an appraiser to appraisal practice with
determine the high and low sales prices in the no applicable Standards
past year that took place in the Green Hills
Subdivision. No mention (1-10).
appraisal practice with no
performance standards
or record keeping
require-
was made of a subject property by the lender. The ap- ments.
praiser 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
, USPAP Practice Test Questions With Passed Solutions |
Updated
9. In accordance with USPAP, which is NOT an holding a state license or
expecta- tion when acting in the role of an
appraiser? certification
10. Compliance with USPAP is required when obligated by agreement, law, or
regu-
lation.
11. When an appraiser is providing a service other than an RECORD KEEPING
RULE
appraisal or appraisal review, which would NOT apply?
12. Zachary's client instructs him to report a specific prop- is a violation of the
ETHICS
erty value as a condition of the assignment. The as-RULE.
signment
13. Which of these activities does the Conduct
section of the ETHICS RULE prohibit? criminal conduct
14. Jack appraised a residential dwelling that is
located omitting the discus-
across the street from a factory that he determined is sion could produce a
mis-
negatively affecting the value of the subject property. leading report
Jack applied a location adjustment in his sales
com- parison 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?
15. Anthony received an appraisal assignment for a prop- make proper
disclosure
erty that was previously appraised by him. He Anthony do?
under- stands that be must handle confidential
information appropriately. What else must
, USPAP Practice Test Questions With Passed Solutions |
Updated
egarding the prior as- signment
16. Marcus was hired to appraise a home that be had pre- yes, as long as he
disclos-
viously appraised one year ago. May Marcus es the previous service on the
accept the assignment?
property to the client
Updated
1. The PREAMBLE states the purpose of USPAP is to
maintain public in the appraisal practice by trust
estab- lishing requirements for appraisers.
2. USPAP benefits providers of appraisal services and users of appraisal ser-
vices.
3. Which is NOT considered significant real property
ap- praisal assistance? collecting employment
data for use in analysis
4. A valuation service performed by an individual
acting as an appraiser requires the appraiser to inquire about the intend-
5. When an individual is performing valuation ed user's expectations.
services outside of appraisal practice, that
individual must be careful to not misrepresent his role.
6. When choosing to provide a valuation service as
an appraiser or in some other capacity, great
care must be taken to
maintain public trust.
7. A real property appraiser teaching appraisal is
en- gaged in
8. A lender has telephoned an appraiser to appraisal practice with
determine the high and low sales prices in the no applicable Standards
past year that took place in the Green Hills
Subdivision. No mention (1-10).
appraisal practice with no
performance standards
or record keeping
require-
was made of a subject property by the lender. The ap- ments.
praiser 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
, USPAP Practice Test Questions With Passed Solutions |
Updated
9. In accordance with USPAP, which is NOT an holding a state license or
expecta- tion when acting in the role of an
appraiser? certification
10. Compliance with USPAP is required when obligated by agreement, law, or
regu-
lation.
11. When an appraiser is providing a service other than an RECORD KEEPING
RULE
appraisal or appraisal review, which would NOT apply?
12. Zachary's client instructs him to report a specific prop- is a violation of the
ETHICS
erty value as a condition of the assignment. The as-RULE.
signment
13. Which of these activities does the Conduct
section of the ETHICS RULE prohibit? criminal conduct
14. Jack appraised a residential dwelling that is
located omitting the discus-
across the street from a factory that he determined is sion could produce a
mis-
negatively affecting the value of the subject property. leading report
Jack applied a location adjustment in his sales
com- parison 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?
15. Anthony received an appraisal assignment for a prop- make proper
disclosure
erty that was previously appraised by him. He Anthony do?
under- stands that be must handle confidential
information appropriately. What else must
, USPAP Practice Test Questions With Passed Solutions |
Updated
egarding the prior as- signment
16. Marcus was hired to appraise a home that be had pre- yes, as long as he
disclos-
viously appraised one year ago. May Marcus es the previous service on the
accept the assignment?
property to the client
