[DOCUMENT TITLE] [DATE]
USPAP 65 Questions And Answers Solved By Expert
Latest Update 2022/2023 Download To Score A+ Top
Ranked
1. A new edition of USPAP has been released. Which statement is true regarding the effective date
of this new edition of USPAP? - Correct answer The ASB determines when the edition of
USPAP will be effective.
2. You are reading an Advisory Opinion in the USPAP publication. Officially, Advisory Opinions are
considered: - Correct answer Other communications, and not part of USPAP
3. Which statement is most accurate regarding the ASB's analysis of comments to exposure drafts?
- Correct answer Each member of the ASB reads and considers all comments.
4. The ASB releases an exposure draft of proposed changes to USPAP, and you wish to provide
comments. At a minimum, you will have _______ to provide comments to the ASB. - Correct
answer 30 days
5. As the terms are used by the ASB, what is the difference between a Discussion Draft and an
Exposure Draft? - Correct answer An Exposure Draft is a formal proposal to revise USPAP,
while a Discussion Draft merely solicits feedback from industry participants.
6. Changes to USPAP may only be made after: - Correct answer Completion of the exposure
process and discussion and adoption at a public meeting
7. You want to participate in the USPAP revision process but are busy and prefer not to travel. What
is your best option? - Correct answer Register for ASB meetings and livestream them on
your computer as they are happening.
8. Fair housing laws would apply to an appraisal of _________, but not to the appraisal of
____________. - Correct answer A duplex, a medical office
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, [DOCUMENT TITLE] [DATE]
9. One common thread in news articles about appraisers is the allegation that the appraisal process
is ________. Conversely, USPAP requires an appraiser to be ________. - Correct answer
Subjective, objective
10. Published stories alleging bias and discrimination by appraisers have appeared: - Correct
answer In news outlets across the country
11. When does USPAP prohibit an appraiser from using or relying on SUPPORTED conclusions
about protected classes? - Correct answer When such conclusions violate federal, state, or
local laws
12. In which of these situations might it be appropriate for an appraiser to research the number of
members of a protected class and use supported conclusions regarding members of this
protected class in an appraisal assignment? - Correct answer When appraising a unit in an
age-restricted (55 and older) community
13. An appraiser is valuing a residential property in a divorce case. The appraiser develops an
inclination that precludes his impartiality and objectivity in the assignment, yet he proceeds with
the appraisal anyway. It can accurately be stated that the appraiser is: - Correct answer
Biased
14. An appraiser issues an appraisal report on a single-unit residence that understated the GLA by
20%. Which statement is most accurate about this situation? - Correct answer The report is
misleading, and may constitute a violation of USPAP.
15. Which statement is true regarding the ETHICS RULE? - Correct answer Violations of the
ETHICS RULE are among the most serious, and usually result in significant sanctions by state
enforcement agencies.
16. Which part of USPAP requires an appraiser to be aware of, and comply with, fair housing laws
and regulations that may apply in an assignment? - Correct answer The COMPETENCY
RULE
Page 2 of 11
USPAP 65 Questions And Answers Solved By Expert
Latest Update 2022/2023 Download To Score A+ Top
Ranked
1. A new edition of USPAP has been released. Which statement is true regarding the effective date
of this new edition of USPAP? - Correct answer The ASB determines when the edition of
USPAP will be effective.
2. You are reading an Advisory Opinion in the USPAP publication. Officially, Advisory Opinions are
considered: - Correct answer Other communications, and not part of USPAP
3. Which statement is most accurate regarding the ASB's analysis of comments to exposure drafts?
- Correct answer Each member of the ASB reads and considers all comments.
4. The ASB releases an exposure draft of proposed changes to USPAP, and you wish to provide
comments. At a minimum, you will have _______ to provide comments to the ASB. - Correct
answer 30 days
5. As the terms are used by the ASB, what is the difference between a Discussion Draft and an
Exposure Draft? - Correct answer An Exposure Draft is a formal proposal to revise USPAP,
while a Discussion Draft merely solicits feedback from industry participants.
6. Changes to USPAP may only be made after: - Correct answer Completion of the exposure
process and discussion and adoption at a public meeting
7. You want to participate in the USPAP revision process but are busy and prefer not to travel. What
is your best option? - Correct answer Register for ASB meetings and livestream them on
your computer as they are happening.
8. Fair housing laws would apply to an appraisal of _________, but not to the appraisal of
____________. - Correct answer A duplex, a medical office
Page 1 of 11
, [DOCUMENT TITLE] [DATE]
9. One common thread in news articles about appraisers is the allegation that the appraisal process
is ________. Conversely, USPAP requires an appraiser to be ________. - Correct answer
Subjective, objective
10. Published stories alleging bias and discrimination by appraisers have appeared: - Correct
answer In news outlets across the country
11. When does USPAP prohibit an appraiser from using or relying on SUPPORTED conclusions
about protected classes? - Correct answer When such conclusions violate federal, state, or
local laws
12. In which of these situations might it be appropriate for an appraiser to research the number of
members of a protected class and use supported conclusions regarding members of this
protected class in an appraisal assignment? - Correct answer When appraising a unit in an
age-restricted (55 and older) community
13. An appraiser is valuing a residential property in a divorce case. The appraiser develops an
inclination that precludes his impartiality and objectivity in the assignment, yet he proceeds with
the appraisal anyway. It can accurately be stated that the appraiser is: - Correct answer
Biased
14. An appraiser issues an appraisal report on a single-unit residence that understated the GLA by
20%. Which statement is most accurate about this situation? - Correct answer The report is
misleading, and may constitute a violation of USPAP.
15. Which statement is true regarding the ETHICS RULE? - Correct answer Violations of the
ETHICS RULE are among the most serious, and usually result in significant sanctions by state
enforcement agencies.
16. Which part of USPAP requires an appraiser to be aware of, and comply with, fair housing laws
and regulations that may apply in an assignment? - Correct answer The COMPETENCY
RULE
Page 2 of 11
