USPAP Exam| 130 QUESTIONS| WITH COMPLETE SOLUTIONS

Financial chaos began in the US during the correct answer: 1929 stock market crash after the great depression In the 1950s-70s double continued with correct answer: -Works related areas -Property taxation -Federal housing programs 1990s trouble was because of... correct answer: Mortgage scams and illegal house flipping. 1980s trouble was because of... correct answer: the Savings and Loans Crisis 1990s to 2000s trouble was from... correct answer: identity theft and appraisal report tampering. Prior to 1930s, appeasing properties could be done by... correct answer: mortgage brokers and real estate agents In the wake of the stock market crash and economic depression the first.... correct answer: group of appraisers were formed Issues recognized by new professional appraisers correct answer: -Provide credible services -Have services provided by ethical and competent individuals -Foster public trust Ad-hoc Committee correct answer: Eventually became USPAP -find market value -develop independent authority TAF correct answer: The Appraisal Foundation Three boards on TAF correct answer: -The Appraiser Qualifications Board -The Appraisal Standards Board -The Board of Trustees USPAP has no legal authority but... correct answer: NYS enforces it!