USPAP MCKISSOCK COMPREHENSIVE ANSWERS
AND QUESTIONS SET A+
Currently, the boards within The Appraisal Foundation include: - ✔✔Appraisal
Standards Board, Appraiser Qualifications Board, Board of Trustees
✔✔Which Foundation board is responsible for USPAP? - ✔✔Appraisal Standards Board
(ASB)
✔✔Which entity appoints members of the AQB and ASB? - ✔✔Board of Trustees (BOT)
✔✔Qualification criteria for appraiser certification and recertification are disseminated to
state appraisal board by the? - ✔✔Appraiser Qualifications Board
✔✔Which entity is responsible for establishing education and experience requirements
for licensing and certification of appraisers? - ✔✔Appraiser Qualifications Board (AQB)
✔✔USPAP is written, amended, and interpreted by the: - ✔✔Appraisal Standards Board
(ASB)
✔✔Advisory Opinions are best described as - ✔✔not part of USPAP, but included as
reference material
✔✔Which entity maintains the official National Registry of state-certified and licensed
appraisers? - ✔✔Appraisal Subcommittee (ASC)
✔✔USPAP is enforced by: - ✔✔State appraiser licensing/certification agencies
✔✔Who is responsible for issuing credentials to individual appraisers - ✔✔State
appraisal regulatory agencies
✔✔Which is not a responsibility of the Appraisal Subcommittee - ✔✔Writing,
interpreting, and amending USPAP
, ✔✔Which part of USPAP establishes the requirements for workfile content for an
appraisal or appraisal review assignment? - ✔✔RECORD KEEPING RULE
✔✔Why are USPAP Advisory Opinions issued? - ✔✔offer advice
✔✔Which of these is considered an integral part of USPAP and has the same weight as
the components they address? - ✔✔comments
✔✔In USPAP the appraisal process is divided into two distinct types of activity______
and ______? - ✔✔Development and Reporting
✔✔The first step in the appraisal process is ? - ✔✔Identify the problem
✔✔Which step in the appraisal process involves communication of the appraiser's
opinions and conclusions? - ✔✔reporting
✔✔What is the stated purpose of USPAP - ✔✔Promote and maintain a high level of
public trust in appraisal practice
✔✔To which property types does USPAP apply - ✔✔Both tangible and intangible
property
✔✔The preamble states that USPAP intended to benefit - ✔✔Appraisers and users of
appraisal services
✔✔USPAP states that in a situation when an individual is not required by law,
regulation, or agreement to comply with USPAP: - ✔✔The individual should still comply
when he or she is acting as an appraiser
✔✔A valuation service that is premised upon advocacy: - ✔✔It cannot be performed by
an individual acting as an appraiser
✔✔A preference or inclination that precludes an appraiser's impartiality, independence,
or objectivity is: - ✔✔bias
✔✔If an appraiser assumes a condition to be true, that does not exist for the purpose of
analysis, this is an example of - ✔✔A hypothetical condition
✔✔If an appraiser assumes a condition to be true, and evidence supports that belief,
although that fact is not certain, this is an example of: - ✔✔An extraordinary assumption
AND QUESTIONS SET A+
Currently, the boards within The Appraisal Foundation include: - ✔✔Appraisal
Standards Board, Appraiser Qualifications Board, Board of Trustees
✔✔Which Foundation board is responsible for USPAP? - ✔✔Appraisal Standards Board
(ASB)
✔✔Which entity appoints members of the AQB and ASB? - ✔✔Board of Trustees (BOT)
✔✔Qualification criteria for appraiser certification and recertification are disseminated to
state appraisal board by the? - ✔✔Appraiser Qualifications Board
✔✔Which entity is responsible for establishing education and experience requirements
for licensing and certification of appraisers? - ✔✔Appraiser Qualifications Board (AQB)
✔✔USPAP is written, amended, and interpreted by the: - ✔✔Appraisal Standards Board
(ASB)
✔✔Advisory Opinions are best described as - ✔✔not part of USPAP, but included as
reference material
✔✔Which entity maintains the official National Registry of state-certified and licensed
appraisers? - ✔✔Appraisal Subcommittee (ASC)
✔✔USPAP is enforced by: - ✔✔State appraiser licensing/certification agencies
✔✔Who is responsible for issuing credentials to individual appraisers - ✔✔State
appraisal regulatory agencies
✔✔Which is not a responsibility of the Appraisal Subcommittee - ✔✔Writing,
interpreting, and amending USPAP
, ✔✔Which part of USPAP establishes the requirements for workfile content for an
appraisal or appraisal review assignment? - ✔✔RECORD KEEPING RULE
✔✔Why are USPAP Advisory Opinions issued? - ✔✔offer advice
✔✔Which of these is considered an integral part of USPAP and has the same weight as
the components they address? - ✔✔comments
✔✔In USPAP the appraisal process is divided into two distinct types of activity______
and ______? - ✔✔Development and Reporting
✔✔The first step in the appraisal process is ? - ✔✔Identify the problem
✔✔Which step in the appraisal process involves communication of the appraiser's
opinions and conclusions? - ✔✔reporting
✔✔What is the stated purpose of USPAP - ✔✔Promote and maintain a high level of
public trust in appraisal practice
✔✔To which property types does USPAP apply - ✔✔Both tangible and intangible
property
✔✔The preamble states that USPAP intended to benefit - ✔✔Appraisers and users of
appraisal services
✔✔USPAP states that in a situation when an individual is not required by law,
regulation, or agreement to comply with USPAP: - ✔✔The individual should still comply
when he or she is acting as an appraiser
✔✔A valuation service that is premised upon advocacy: - ✔✔It cannot be performed by
an individual acting as an appraiser
✔✔A preference or inclination that precludes an appraiser's impartiality, independence,
or objectivity is: - ✔✔bias
✔✔If an appraiser assumes a condition to be true, that does not exist for the purpose of
analysis, this is an example of - ✔✔A hypothetical condition
✔✔If an appraiser assumes a condition to be true, and evidence supports that belief,
although that fact is not certain, this is an example of: - ✔✔An extraordinary assumption
