National USPAP Course Exam with Possible
Questions and 100% Correct Answers
1. The Appraisal Foundation has the authority to enforce the requirements o
USPAP.:False
2. Currently, the boards within the Appraisal Foundation include:: Appraisal
Stan- dards Board, Appraisal Qualifications Board, Board of Trustees
3. Which Foundation board is responsible for USPAP?: Appraisal Standards Board
4. Qualification criteria for appraiser certification and recertification are
dis- seminated to state appraisal boards by the:: AppraisalQualificationsBoard
5. Which entity is responsible for establishing education and eẋperience re-
quirements for licensing and certification of appraisers?: Appraisal Qualifications Board
6. Which entity appoints members of the AQB and ASB?: Board of Trustees
7. USPAP is written, amended, and interpreted by the:: Appraisal Standards Board
8. AdvisoryOpinionsare bestdescribedas:: notpartofUSPAP,butincludedas referencematerial
9. Who is responsible for issuing credentials to individual appraisers?: State
appraisalregulatoryagencies
10. Which entity maintains the official National Registry of state-certified and
licensed appraisers?: Appraisal Subcommittee(ASC)
11. Which is NOT a responsibility of the Appraisal Subcommittee (ASC)?: writing,
interpretingand amendingUSPAP
12. USPAP is enforcedby:: stateappraiserlicensing/certificationagencies
13. Which part of USPAP establishes the requirements for workfile content for
an appraisal or appraisal review assignment?: Record Keeping Rule
14. Why are USPAP Advisory Opinionsissued?:to otteradvice
15. Whichof theseis consideredan integral part of USPAPand has the same
weight as the components they address?: comments
16. The first step in the appraisal processis:: identifytheproblem
,17. In USPAP,the appraisalprocessis dividedinto two distinct typesof activity:
and .: development,reporting
18. Whichstepin the appraisalprocessinvolvescommunicationof the apprais-
er's opinions and conclusions?: reporting
19. The PREAMBLE statesthat USPAP intendedto benefit::appraisersand users of
appraisal services
, 20. When obligated by law or regulation, an appraiser comply with
USPAP.: must
21. Whatis the statedpurposeof USPAP?:Promoteandmaintaina high levelof publictrustin
appraisalpractice
22. To which propertytypes doesUSPAP apply?: Bothtangibleandintangibleproperty
23. An appraiser has the professional responsibility to identify the capacity in
which he or she is performing.: true
24. The requirement for USPAP compliance in an appraisal assignment could be
the result of: law or regulation,voluntarychoiceby the appraiser,or agreementwith the client
25. A valuation service that is premised upon advocacy:: cannot be performed by an
individual acting as an appraiser
26. When performing valuation services outside of appraisal practice, an-indi
vidual must be careful not to the client and other intended users
abouthis or her role.: mislead
27. USPAP states that in a situation when an individual is not required by law,
regulation, or agreement to comply with USPAP::individual the shouldstill complywhenhe
or she is actingas an appraiser
28. A preference or inclination that precludes an appraiser's impartiality, -inde
pendence, or objectivity is:: bias
29. If an appraiser assumes a condition to be true, and evidence supports tha
belief,althoughthatfact is not certain,this is an eẋampleof:: an eẋtraordinary
assumption
30. If an appraiser assumes a condition to be true that does not ẋistefor the
purposes of analysis, this is an eẋample of:: hypothetical condition
31. By using a published cost manual, an appraiser determines that the con -
struction cost of a 2,500 square foot dwelling is $400,000. This figure
repre- sents the dwelling's:: cost
32. "The monetary relationship between properties and those who buy, sell o
use those properties" is the definition of:: value
33. An appraiser receives a copy of a signed sales agreement for an office
Questions and 100% Correct Answers
1. The Appraisal Foundation has the authority to enforce the requirements o
USPAP.:False
2. Currently, the boards within the Appraisal Foundation include:: Appraisal
Stan- dards Board, Appraisal Qualifications Board, Board of Trustees
3. Which Foundation board is responsible for USPAP?: Appraisal Standards Board
4. Qualification criteria for appraiser certification and recertification are
dis- seminated to state appraisal boards by the:: AppraisalQualificationsBoard
5. Which entity is responsible for establishing education and eẋperience re-
quirements for licensing and certification of appraisers?: Appraisal Qualifications Board
6. Which entity appoints members of the AQB and ASB?: Board of Trustees
7. USPAP is written, amended, and interpreted by the:: Appraisal Standards Board
8. AdvisoryOpinionsare bestdescribedas:: notpartofUSPAP,butincludedas referencematerial
9. Who is responsible for issuing credentials to individual appraisers?: State
appraisalregulatoryagencies
10. Which entity maintains the official National Registry of state-certified and
licensed appraisers?: Appraisal Subcommittee(ASC)
11. Which is NOT a responsibility of the Appraisal Subcommittee (ASC)?: writing,
interpretingand amendingUSPAP
12. USPAP is enforcedby:: stateappraiserlicensing/certificationagencies
13. Which part of USPAP establishes the requirements for workfile content for
an appraisal or appraisal review assignment?: Record Keeping Rule
14. Why are USPAP Advisory Opinionsissued?:to otteradvice
15. Whichof theseis consideredan integral part of USPAPand has the same
weight as the components they address?: comments
16. The first step in the appraisal processis:: identifytheproblem
,17. In USPAP,the appraisalprocessis dividedinto two distinct typesof activity:
and .: development,reporting
18. Whichstepin the appraisalprocessinvolvescommunicationof the apprais-
er's opinions and conclusions?: reporting
19. The PREAMBLE statesthat USPAP intendedto benefit::appraisersand users of
appraisal services
, 20. When obligated by law or regulation, an appraiser comply with
USPAP.: must
21. Whatis the statedpurposeof USPAP?:Promoteandmaintaina high levelof publictrustin
appraisalpractice
22. To which propertytypes doesUSPAP apply?: Bothtangibleandintangibleproperty
23. An appraiser has the professional responsibility to identify the capacity in
which he or she is performing.: true
24. The requirement for USPAP compliance in an appraisal assignment could be
the result of: law or regulation,voluntarychoiceby the appraiser,or agreementwith the client
25. A valuation service that is premised upon advocacy:: cannot be performed by an
individual acting as an appraiser
26. When performing valuation services outside of appraisal practice, an-indi
vidual must be careful not to the client and other intended users
abouthis or her role.: mislead
27. USPAP states that in a situation when an individual is not required by law,
regulation, or agreement to comply with USPAP::individual the shouldstill complywhenhe
or she is actingas an appraiser
28. A preference or inclination that precludes an appraiser's impartiality, -inde
pendence, or objectivity is:: bias
29. If an appraiser assumes a condition to be true, and evidence supports tha
belief,althoughthatfact is not certain,this is an eẋampleof:: an eẋtraordinary
assumption
30. If an appraiser assumes a condition to be true that does not ẋistefor the
purposes of analysis, this is an eẋample of:: hypothetical condition
31. By using a published cost manual, an appraiser determines that the con -
struction cost of a 2,500 square foot dwelling is $400,000. This figure
repre- sents the dwelling's:: cost
32. "The monetary relationship between properties and those who buy, sell o
use those properties" is the definition of:: value
33. An appraiser receives a copy of a signed sales agreement for an office
