USPAP 15-HOUR COURSE
K
EXAM QUESTIONS AND
C
CORRECT DETAILED /
LO
VERIFIED ANSWERS LATEST
UPDATE
YC
D
U
ST
\
, The Preamble states that USPAP is - ANS for appraisers and users of appraisal
services.
The stated purpose of USPAP - ANS Promote and maintain a high level of public
trust in appraisal practice.
When obligated by law or regulation an appraiser must - ANS comply with USPAP.
USPAP applies to which types of properties? - ANS Tangible and Intangible
K
Valuation services - ANS is not a subset of appraisal practice.
C
An appraiser has the professional responsibility - ANS to identify the capacity in
which he or she is performing.
LO
Reasons why an appraiser would prepare an appraisal assignment in conformance with
USPAP - ANS 1. Agreement with client.
2. Law or regulation.
3. Voluntary choice.
YC
An appraiser who provides an appraisal service that is not an appraisal, appraisal
review, or appraisal consulting assignment does not have workfile obligations
associated with the assignment. - ANS True
An individual is not prohibited from providing valuation services that involve advocacy
D
while acting as an appraiser. - ANS False
U
When performing valuation services outside of appraisal practice, appraisers must be
careful not to _________________ the client and other intended users about their role. -
ANS Mislead
ST
USPAP states that in a situation when an individual is not required by law, regulation, or
agreement to comply with USPAP: - ANS The individual should still comply when
acting as an appraiser.
An appraiser is engaged to teach an appraisal course. What parts of USPAP apply? -
ANS The parts of USPAP that apply generally to appraisal practice.
The Appraisal Practices Board (APB) was created when? - ANS 2010
K
EXAM QUESTIONS AND
C
CORRECT DETAILED /
LO
VERIFIED ANSWERS LATEST
UPDATE
YC
D
U
ST
\
, The Preamble states that USPAP is - ANS for appraisers and users of appraisal
services.
The stated purpose of USPAP - ANS Promote and maintain a high level of public
trust in appraisal practice.
When obligated by law or regulation an appraiser must - ANS comply with USPAP.
USPAP applies to which types of properties? - ANS Tangible and Intangible
K
Valuation services - ANS is not a subset of appraisal practice.
C
An appraiser has the professional responsibility - ANS to identify the capacity in
which he or she is performing.
LO
Reasons why an appraiser would prepare an appraisal assignment in conformance with
USPAP - ANS 1. Agreement with client.
2. Law or regulation.
3. Voluntary choice.
YC
An appraiser who provides an appraisal service that is not an appraisal, appraisal
review, or appraisal consulting assignment does not have workfile obligations
associated with the assignment. - ANS True
An individual is not prohibited from providing valuation services that involve advocacy
D
while acting as an appraiser. - ANS False
U
When performing valuation services outside of appraisal practice, appraisers must be
careful not to _________________ the client and other intended users about their role. -
ANS Mislead
ST
USPAP states that in a situation when an individual is not required by law, regulation, or
agreement to comply with USPAP: - ANS The individual should still comply when
acting as an appraiser.
An appraiser is engaged to teach an appraisal course. What parts of USPAP apply? -
ANS The parts of USPAP that apply generally to appraisal practice.
The Appraisal Practices Board (APB) was created when? - ANS 2010
