2026 QUESTIONS WITH ANSWERS FULL
SOLUTION.
▶ An individual is not prohibited from providing valuation services that
involve advocacy while acting as an appraiser. Answer: False
▶ When performing valuation services outside of appraisal practice,
appraisers must be careful not to _________________ the client and
other intended users about their role. Answer: Mislead
▶ USPAP states that in a situation when an individual is not required by
law, regulation, or agreement to comply with USPAP:. Answer: The
individual should still comply when acting as an appraiser.
▶ An appraiser is engaged to teach an appraisal course. What parts of
USPAP apply? Answer: The parts of USPAP that apply generally to
appraisal practice.
▶ The Appraisal Practices Board (APB) was created when? Answer:
2010
▶ The APB is a(n). Answer: independent board.
,▶ Boards within The Appraisal Foundation (TAF). Answer: 1. Board of
Trustees (BOT)
2. Appraisal Standards Board (ASB)
3. Appraisal Qualifications Board (AQB)
4. Appraisal Practices Board (APB)
▶ APB is a. Answer: private entity.
▶ The APB has authority to enforce the requirements of USPAP.
Answer: False
▶ Who has the only jurisdiction and authority over appraisers? Answer:
States
▶ ASB. Answer: Develops, interprets, and amends USPAP.
▶ Advisory opinions. Answer: Not part of USPAP; reference material
only.
▶ APB. Answer: Guidance is voluntary.
, ▶ ASC. Answer: Maintains the official National Registry of state
certified and licensed appraisers.
▶ State appraisal regulatory committees. Answer: responsible for
issuing credentials to individual appraisers.
▶ Responsibilities of ASC:. Answer: • Establishes, improves, and
promulgates the USPAP
• Subject, content, and substance of USPAP and other communication
related to appraisal standards.
• Establishes standards of professional appraisal practice for the
guidance and education of appraisers and users of appraisal services.
• Maintains the official National Registry of state certified and licensed
appraisers.
▶ Developing, amending, and interpreting USPAP is NOT a
responsibility of. Answer: ASC
▶ 12. USPAP divides the appraisal process into two distinct types of
activity:. Answer: Develop and report
▶ Identify the problem. Answer: The first step in the appraisal process.