USPAP 15-Hour Course Exam Questions and Answers

USPAP 15-Hour Course Exam Questions
and Answers

The iiPreamble iistates iithat iiUSPAP iiis ii- iiCorrect iiAnswers ii-for iiappraisers iiand iiusers
iiof iiappraisal iiservices.


The iistated iipurpose iiof iiUSPAP ii- iiCorrect iiAnswers ii-Promote iiand iimaintain iia iihigh
iilevel iiof iipublic iitrust iiin iiappraisal iipractice.


When iiobligated iiby iilaw iior iiregulation iian iiappraiser iimust ii- iiCorrect iiAnswers ii-comply
iiwith iiUSPAP.


USPAP iiapplies iito iiwhich iitypes iiof iiproperties? ii- iiCorrect iiAnswers ii-Tangible iiand
iiIntangible


Valuation iiservices ii- iiCorrect iiAnswers ii-is iinot iia iisubset iiof iiappraisal iipractice.

An iiappraiser iihas iithe iiprofessional iiresponsibility ii- iiCorrect iiAnswers ii-to iiidentify iithe
iicapacity iiin iiwhich iihe iior iishe iiis iiperforming.


Reasons iiwhy iian iiappraiser iiwould iiprepare iian iiappraisal iiassignment iiin iiconformance
iiwith iiUSPAP ii- iiCorrect iiAnswers ii-1. iiAgreement iiwith iiclient.
2. iiLaw iior iiregulation.
3. iiVoluntary iichoice.

An iiappraiser iiwho iiprovides iian iiappraisal iiservice iithat iiis iinot iian iiappraisal, iiappraisal
iireview, iior iiappraisal iiconsulting iiassignment iidoes iinot iihave iiworkfile iiobligations
iiassociated iiwith iithe iiassignment. ii- iiCorrect iiAnswers ii-True


An iiindividual iiis iinot iiprohibited iifrom iiproviding iivaluation iiservices iithat iiinvolve
iiadvocacy iiwhile iiacting iias iian iiappraiser. ii- iiCorrect iiAnswers ii-False


When iiperforming iivaluation iiservices iioutside iiof iiappraisal iipractice, iiappraisers iimust
iibe iicareful iinot iito ii_________________ iithe iiclient iiand iiother iiintended iiusers iiabout
iitheir iirole. ii- iiCorrect iiAnswers ii-Mislead

, USPAP iistates iithat iiin iia iisituation iiwhen iian iiindividual iiis iinot iirequired iiby iilaw,
iiregulation, iior iiagreement iito iicomply iiwith iiUSPAP: ii- iiCorrect iiAnswers ii-The
iiindividual iishould iistill iicomply iiwhen iiacting iias iian iiappraiser.


An iiappraiser iiis iiengaged iito iiteach iian iiappraisal iicourse. iiWhat iiparts iiof iiUSPAP
iiapply? ii- iiCorrect iiAnswers ii-The iiparts iiof iiUSPAP iithat iiapply iigenerally iito iiappraisal
iipractice.


The iiAppraisal iiPractices iiBoard ii(APB) iiwas iicreated iiwhen? ii- iiCorrect iiAnswers ii-2010

The iiAPB iiis iia(n) ii- iiCorrect iiAnswers ii-independent iiboard.

Boards iiwithin iiThe iiAppraisal iiFoundation ii(TAF) ii- iiCorrect iiAnswers ii-1. iiBoard iiof
iiTrustees ii(BOT)
2. iiAppraisal iiStandards iiBoard ii(ASB)
3. iiAppraisal iiQualifications iiBoard ii(AQB)
4. iiAppraisal iiPractices iiBoard ii(APB)

APB iiis iia ii- iiCorrect iiAnswers ii-private iientity.

The iiAPB iihas iiauthority iito iienforce iithe iirequirements iiof iiUSPAP. ii- iiCorrect iiAnswers
ii-False


Who iihas iithe iionly iijurisdiction iiand iiauthority iiover iiappraisers? ii- iiCorrect iiAnswers ii-
States

ASB ii- iiCorrect iiAnswers ii-Develops, iiinterprets, iiand iiamends iiUSPAP.

Advisory iiopinions ii- iiCorrect iiAnswers ii-Not iipart iiof iiUSPAP; iireference iimaterial iionly.

APB ii- iiCorrect iiAnswers ii-Guidance iiis iivoluntary.

ASC ii- iiCorrect iiAnswers ii-Maintains iithe iiofficial iiNational iiRegistry iiof iistate iicertified
iiand iilicensed iiappraisers.


State iiappraisal iiregulatory iicommittees ii- iiCorrect iiAnswers ii-responsible iifor iiissuing
iicredentials iito iiindividual iiappraisers.


Responsibilities iiof iiASC: ii- iiCorrect iiAnswers ii-• iiEstablishes, iiimproves, iiand
iipromulgates iithe iiUSPAP
• iiSubject, iicontent, iiand iisubstance iiof iiUSPAP iiand iiother iicommunication iirelated iito
iiappraisal iistandards.
• iiEstablishes iistandards iiof iiprofessional iiappraisal iipractice iifor iithe iiguidance iiand
iieducation iiof iiappraisers iiand iiusers iiof iiappraisal iiservices.
• iiMaintains iithe iiofficial iiNational iiRegistry iiof iistate iicertified iiand iilicensed iiappraisers.