McKissock USPAP 15-hour National Course Exam
2026/2027 ACTUAL EXAM ALL QUESTIONS AND
100%CORRECT ANSWERS LATEST UPDATE THIS
YEAR-JUST RELEASED
USPAP contains what 4 sections? - ANSWER-1) The
Preamble
2) Definitions
3) Rules
4) Standards
USPAP Provides... - ANSWER-1. A common basis for
comparison
2. A reference source for all users of the document
,3. A basis for uniform enforcement for state regulatory
agencies
4. A reason for clients, other intended users, and the
public to place their trust in the services performed by
professional appraisers
What year was The Appraisal Foundation formed? -
ANSWER-1987
What are the 3 boards of The Appraisal Foundation? -
ANSWER-- Board of Trustees (BOT)
- Appraiser Qualifications Board (AQB)
- Appraisal Standards Board (ASB)
,FIRREA - ANSWER-Financial Institutions Reform,
Recovery, and Enforcement Act of 1989
Title XI created the Appraisal Subcommittee (ASC) of the
Federal Financial Institutions Examination Council
(FFIEC).
Can an appraiser accept an assignment where a
government agency pays based on the valuation amount?
- ANSWER-Yes, this would be a judicial exception if it is a
law or official government policy.
What is the primary purpose of an appraiser making an
inspection of the subject property? - ANSWER-To collect
information about characteristics that are relevant to value
, T or F: USPAP requires 3 comparable when developing
the sales comparison approach. - ANSWER-False. They
must analyze such data as are available to indicate a
value conclusion.
What prior sales is an appraiser required to analyze? -
ANSWER-All sales of the subject property that occurred
within 3 years. No prior sales of comparable properties is
necessary.
STANDARD 2 sets forth requirements for - ANSWER-
Appraisal report content
2026/2027 ACTUAL EXAM ALL QUESTIONS AND
100%CORRECT ANSWERS LATEST UPDATE THIS
YEAR-JUST RELEASED
USPAP contains what 4 sections? - ANSWER-1) The
Preamble
2) Definitions
3) Rules
4) Standards
USPAP Provides... - ANSWER-1. A common basis for
comparison
2. A reference source for all users of the document
,3. A basis for uniform enforcement for state regulatory
agencies
4. A reason for clients, other intended users, and the
public to place their trust in the services performed by
professional appraisers
What year was The Appraisal Foundation formed? -
ANSWER-1987
What are the 3 boards of The Appraisal Foundation? -
ANSWER-- Board of Trustees (BOT)
- Appraiser Qualifications Board (AQB)
- Appraisal Standards Board (ASB)
,FIRREA - ANSWER-Financial Institutions Reform,
Recovery, and Enforcement Act of 1989
Title XI created the Appraisal Subcommittee (ASC) of the
Federal Financial Institutions Examination Council
(FFIEC).
Can an appraiser accept an assignment where a
government agency pays based on the valuation amount?
- ANSWER-Yes, this would be a judicial exception if it is a
law or official government policy.
What is the primary purpose of an appraiser making an
inspection of the subject property? - ANSWER-To collect
information about characteristics that are relevant to value
, T or F: USPAP requires 3 comparable when developing
the sales comparison approach. - ANSWER-False. They
must analyze such data as are available to indicate a
value conclusion.
What prior sales is an appraiser required to analyze? -
ANSWER-All sales of the subject property that occurred
within 3 years. No prior sales of comparable properties is
necessary.
STANDARD 2 sets forth requirements for - ANSWER-
Appraisal report content
