USPAP Practice Test Questions & Answers

The PREAMBLE states the purpose of USPAP is to maintain public ___ in the appraisal practice by establishing requirements for appraisers. - answer-trust USPAP benefits providers of appraisal services and - answer-users of appraisal services. Which is NOT considered significant real property appraisal assistance? - answer-collecting employment data for use in analysis A valuation service performed by an individual acting as an appraiser requires the appraiser to - answer-inquire about the intended user's expectations. When an individual is performing valuation services outside of appraisal practice, that individual must be careful to - answer-not misrepresent his role. When choosing to provide a valuation service as an appraiser or in some other capacity, great care must be taken to - answer-maintain public trust. A real property appraiser teaching appraisal is engaged in - answer-appraisal practice with no applicable Standards (1-10). A lender has telephoned an appraiser to determine the high and low sales prices in the past year that took place in the Green Hills Subdivision. No mention was made of a subject property by the lender. The appraiser has supplied a list of all of the sales within the past year in the subdivision and billed the lender for service. The service being provided by the appraiser is - answer-appraisal practice with no performance standards or record keeping requirements