ASA USPAP Exam Questions and Answers

ASA USPAP Exam Questions and
Answers

USPAP iiwas iiformed iiin ii1986 iiafter iiwhat iicrisis? ii- ii iiAnswers-S&L

Which iifoundation iiboard iiestablishes iiminimum iieducation iiand iiexperience iifor
iicertification iiand
recertification iiof iireal iiproperty iiappraisers iiand iisupervisors. ii- ii iiAnswers-Appraisers
iiQualifications iiBoard


Which iiboard iiwrite, iiamends, iiand iiinterprets iiUSPAP? ii- ii iiAnswers-Appraisal
iiStandards iiBoard


What iiis iithe iiduty iiof iiThe iiAppraisal iiSubcommittee? ii- ii iiAnswers-It iihas iia iiduty iito
iiensure iithat iithe
government iihas iisufficient iicontrols iiin iiplace iiover iiall iireal iiproperty iiappraisal iiactivity
iito
protect iithe iifederally iiregulated iifinancial iiinstitutions iifrom iiloss.

_________ iiare iian iiintegral iipart iiof iiUSPAP iiand iihave iithe iisame iiweight iias iithe
component iithey iiaddress. ii- ii iiAnswers-Comments

_____ iiand ii_____ iioffer iiadvice iiand iiguidance, iibut iido iinot iiestablish iinew iistandards
iior
interpret iiexisting iistandards. ii- ii iiAnswers-AOs iiand iiFAQs

_______________________________ iiis iia iivaluation iiservice iiperformed iiby iian
iiindividual
acting iiin iithe iirole iiof iian iiappraiser. ii- ii iiAnswers-appraisal iipractice

When iiperforming iivaluation iiservices iioutside iiof iiappraisal iipractice, iiappraisers iimust
iibe
careful iinot iito ii______________________ iithe iiclient iiand iiother iiintended iiusers iiabout
iitheir
role. ii- ii iiAnswers-misrepresent

For iiassignments iiother iithan iiappraisal iior iiappraisal iireview, iithere iiare iino

, ___________________or ii______________________ iirequirements iiin iiUSPAP. ii- ii
iiAnswers-recording iikeeping iior iiworkfile


If iian iiindividual iiwho iiis iiboth iia iibusiness iibroker iiand iian iiappraiser
provides iia iivalue iiopinion iifor iia iispecific iiproperty iito iibe iiused iiin iian
offering iidocument, iithe iiservice iiis iialways iioutside iiappraisal
practice. iiT iior iiF? ii- ii iiAnswers-F

An iiindividual iimust iicomply iiwith iiUSPAP iiwhen iirequired iiby iilaw,
regulation, iior iiagreement ii(with iithe iiclient iior iiother iiintended iiusers). iiT iior iiF ii- ii
iiAnswers-T


Appraisal iipractice iipertains iionly iito iiappraisals. iiT iior iiF ii- ii iiAnswers-F

The iipurpose iiof iiUSPAP iiis iito iipromote iiand iimaintain iia iihigh iilevel iiof
public iitrust iiin iiprofessional iiappraisal iipractice. ii- ii iiAnswers-T

Business iibrokerage, iiappraisal iireviews, iiand iibusiness iiappraisals iiare iiall iiincluded
iiwithin
A. iiappraisal iipractice.
B. iiconsulting.
C. iivaluation iiservices.
D. iimarket iianalysis. ii- ii iiAnswers-C

The iiPREAMBLE iistates iithat iiUSPAP iiis:
A. iionly iifor iiappraisers.
B. iifor iiappraisers iiand iiusers iiof iiappraisal iiservices.
C. iilimited iito iistate iicertified iior iilicensed iiappraisers.
D. iionly iifor iiusers iiof iiappraisal iiservices. ii- ii iiAnswers-B

According iito iiUSPAP, iithe iiparty iior iiparties iiwho iiengage iian iiappraiser iiin iia iispecific
iiassignment
defines iithe
A. iiclient.
B. iiparty iiwho iipays iithe iifee.
C. iiappraiser's iipeers.
D. iiother iiintended iiusers. ii- ii iiAnswers-A

For iireal iiproperty iiappraisers, iiUSPAP iiis iienforced iiby
A. iiThe iiAppraisal iiFoundation.
B. iithe iiAppraisal iiStandards iiBoard.
C. iithe iiAppraisal iiSubcommittee, iithrough iiCongress.
D. iistate iiregulatory iiagencies. ii- ii iiAnswers-D

For iibusiness iiappraisers, iiUSPAP iiis iienforced iiby
A. iiaccrediting iiand iicertifying iiprofessional iimembership iiorganizations.