USPAP PRACTICE TEST EXAM
QUESTIONS AND ANSWERS 2026
VERIFIED.
STANDARD 2 contains standards for:
a. Real property appraisal review assignments
b. Development and reporting of real property appraisals
c. Reporting the results of real property appraisals *
d. Development of real property appraisals - ANS Reporting the results of real property
appraisals
The DEFINITIONS in USPAP:
a. Are superseded by definitions in standard English dictionaries
b. Are all taken from legal dictionaries
c. Were established by FIRREA
d. Apply only in the context of USPAP - ANS Apply only in the context of USPAP
The Comments in USPAP:
a. Are advisory materials for guidance only
b. Are extensions of the DEFINITIONS, Rules and Standards Rules
c. Are provided to link USPAP to other requirements
d. Cite specific administrative applications of USPAP - ANS Are extensions of the DEFINITIONS,
Rules and Standards Rules
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,The Appraisal Subcommittee is:
a. A government agency
b. A professional association for appraisers
c. A professional association of users of appraisal services
d. An education and research trust - ANS A government agency
Which of the following administers appraiser regulations per FIRREA?
a. The Appraisal Subcommittee
b. The Appraisal Foundation
c. State regulatory agencies
d. The Appraisal Standards Board - ANS State regulatory agencies
The Appraisal Foundation is:
a. A professional association for appraisers
b. A professional association of users of appraisal services
c. A government agency
d. An education and research trust - ANS An education and research trust
The Dodd-Frank Act:
a. Replaced FIRREA
b. Repealed FIRREA
c. Added to the requirements of FIRREA
d. Is unrelated to FIRREA - ANS Added to the requirements of FIRREA
The ASB considers suggestions for changes to USPAP from:
a. Appraisers only
b. Only employees of the federal government and banking regulatory agencies
c. Appraisers, users of appraisal services, regulators, and others
@COPYRIGHT ALL RIGHTS RESERVED PAGE 2 OF 23
, d. Appraisal regulators only - ANS Appraisers, users of appraisal services, regulators, and
others
When exposing proposed changes to USPAP, the ASB provides a minimum ________ comment
period on exposure drafts.
a. 30-day
b. 90-day
c. 6-month
d. 2-year - ANS 30-day
You want to provide comments on a proposed change to USPAP but the written comment
period expired last week. What can you do?
a. Provide oral comments at the ASB's public meeting
b. Nothing; you are out of luck
c. Submit a formal request for an extension of the comment period
d. Contact your elected representative in the U.S. House of Representatives - ANS Provide
oral comments at the ASB's public meeting
You submit a comment letter to The Appraisal Foundation regarding a proposed change to
USPAP. What will TAF do with the letter?
a. Destroy it after the 5-year record retention period
b. Maintain it in a permanent file
c. Distribute it to Board members, who may read it at their discretion
d. Keep its contents strictly confidential - ANS Maintain it in a permanent file
The ASB is considering public comment letters on one of its Exposure Drafts. When considering
these comments, the ASB's primary focus is:
a. The reasoning and insight presented in the letter
b. Whether or not the author of the letter is a member of a sponsoring organization of the
Foundation
c. The license level of the author of the letter
@COPYRIGHT ALL RIGHTS RESERVED PAGE 3 OF 23
QUESTIONS AND ANSWERS 2026
VERIFIED.
STANDARD 2 contains standards for:
a. Real property appraisal review assignments
b. Development and reporting of real property appraisals
c. Reporting the results of real property appraisals *
d. Development of real property appraisals - ANS Reporting the results of real property
appraisals
The DEFINITIONS in USPAP:
a. Are superseded by definitions in standard English dictionaries
b. Are all taken from legal dictionaries
c. Were established by FIRREA
d. Apply only in the context of USPAP - ANS Apply only in the context of USPAP
The Comments in USPAP:
a. Are advisory materials for guidance only
b. Are extensions of the DEFINITIONS, Rules and Standards Rules
c. Are provided to link USPAP to other requirements
d. Cite specific administrative applications of USPAP - ANS Are extensions of the DEFINITIONS,
Rules and Standards Rules
@COPYRIGHT ALL RIGHTS RESERVED PAGE 1 OF 23
,The Appraisal Subcommittee is:
a. A government agency
b. A professional association for appraisers
c. A professional association of users of appraisal services
d. An education and research trust - ANS A government agency
Which of the following administers appraiser regulations per FIRREA?
a. The Appraisal Subcommittee
b. The Appraisal Foundation
c. State regulatory agencies
d. The Appraisal Standards Board - ANS State regulatory agencies
The Appraisal Foundation is:
a. A professional association for appraisers
b. A professional association of users of appraisal services
c. A government agency
d. An education and research trust - ANS An education and research trust
The Dodd-Frank Act:
a. Replaced FIRREA
b. Repealed FIRREA
c. Added to the requirements of FIRREA
d. Is unrelated to FIRREA - ANS Added to the requirements of FIRREA
The ASB considers suggestions for changes to USPAP from:
a. Appraisers only
b. Only employees of the federal government and banking regulatory agencies
c. Appraisers, users of appraisal services, regulators, and others
@COPYRIGHT ALL RIGHTS RESERVED PAGE 2 OF 23
, d. Appraisal regulators only - ANS Appraisers, users of appraisal services, regulators, and
others
When exposing proposed changes to USPAP, the ASB provides a minimum ________ comment
period on exposure drafts.
a. 30-day
b. 90-day
c. 6-month
d. 2-year - ANS 30-day
You want to provide comments on a proposed change to USPAP but the written comment
period expired last week. What can you do?
a. Provide oral comments at the ASB's public meeting
b. Nothing; you are out of luck
c. Submit a formal request for an extension of the comment period
d. Contact your elected representative in the U.S. House of Representatives - ANS Provide
oral comments at the ASB's public meeting
You submit a comment letter to The Appraisal Foundation regarding a proposed change to
USPAP. What will TAF do with the letter?
a. Destroy it after the 5-year record retention period
b. Maintain it in a permanent file
c. Distribute it to Board members, who may read it at their discretion
d. Keep its contents strictly confidential - ANS Maintain it in a permanent file
The ASB is considering public comment letters on one of its Exposure Drafts. When considering
these comments, the ASB's primary focus is:
a. The reasoning and insight presented in the letter
b. Whether or not the author of the letter is a member of a sponsoring organization of the
Foundation
c. The license level of the author of the letter
@COPYRIGHT ALL RIGHTS RESERVED PAGE 3 OF 23
