USPAP Practice Exam 2023

USPAP Practice Exam The PREAMBLE states the purpose of USPAP is to promote and maintain a high level of public in appraisal practice by establishing requirements for appraisers. A) Awareness B) Recognition C) Support D) Trust correct answerD) Trust USPAP benefits providers of appraisal services and a. the Appraisal Standards Board. b. disinterested parties. c. federal officials. d. users of appraisal services. correct answerD) Users of appraisal services When acting in the role of an appraiser, all of the following require compliance with all sections of USPAP, including the applicable STANDARDS 1 through 10, EXCEPT for a. appraisal. b. appraisal consulting. c. appraisal course development. d. appraisal review. correct answerC) Appraisal course development A valuation service performed by an individual acting as an appraiser requires the appraiser to a. hold a valid appraiser credential. b. inquire about the intended user's expectations. c. keep confidential the capacity in which he is performing. d. not be impartial in respect to the client. correct answerB) Inquire about the intended user's expectations.