MCKISSOCK USPAP PRACTICE TEST WITH 100% VERIFIED ANSWERS | LATEST UPDATE 2025

MCKISSOCK USPAP PRACTICE TEST WITH 100%
VERIFIED ANSWERS | LATEST UPDATE 2025

STANDARDv2vcontainsvstandardsvfor:
a.vRealvpropertyvappraisalvreviewvassignments
b.vDevelopmentvandvreportingvofvrealvpropertyvappraisals
c.vReportingvthevresultsvofvrealvpropertyvappraisalsv*
d.vDevelopmentvofvrealvpropertyvappraisalsv-vcorrectvanswer-
Reportingvthevresultsvofvrealvpropertyvappraisals


ThevDEFINITIONSvinvUSPAP:
a.vArevsupersededvbyvdefinitionsvinvstandardvEnglishvdictionariesv
b.vArevallvtakenvfromvlegalvdictionariesv
c.vWerevestablishedvbyvFIRREA
d.vApplyvonlyvinvthevcontextvofvUSPAPv-vcorrectvanswer-ApplyvonlyvinvthevcontextvofvUSPAP


ThevCommentsvinvUSPAP:
a.vArevadvisoryvmaterialsvforvguidancevonly
b.vArevextensionsvofvthevDEFINITIONS,vRulesvandvStandardsvRulesv
c.vArevprovidedvtovlinkvUSPAPvtovothervrequirements
d.vCitevspecificvadministrativevapplicationsvofvUSPAPv-vcorrectvanswer-
ArevextensionsvofvthevDEFINITIONS,vRulesvandvStandardsvRules


ThevAppraisalvSubcommitteevis:
a.vAvgovernmentvagencyv
b.vAvprofessionalvassociationvforvappraisers
c.vAvprofessionalvassociationvofvusersvofvappraisalvservices
d.vAnveducationvandvresearchvtrustv-vcorrectvanswer-Avgovernmentvagency


WhichvofvthevfollowingvadministersvappraiservregulationsvpervFIRREA?

,a.vThevAppraisalvSubcommittee
b.vThevAppraisalvFoundation
c.vStatevregulatoryvagenciesv
d.vThevAppraisalvStandardsvBoardv-vcorrectvanswer-Statevregulatoryvagencies


ThevAppraisalvFoundationvis:
a.vAvprofessionalvassociationvforvappraisers
b.vAvprofessionalvassociationvofvusersvofvappraisalvservices
c.vAvgovernmentvagency
d.vAnveducationvandvresearchvtrustv-vcorrectvanswer-Anveducationvandvresearchvtrust


ThevDodd-FrankvAct:
a.vReplacedvFIRREA
b.vRepealedvFIRREA
c.vAddedvtovthevrequirementsvofvFIRREA
d.vIsvunrelatedvtovFIRREAv-vcorrectvanswer-AddedvtovthevrequirementsvofvFIRREA


ThevASBvconsidersvsuggestionsvforvchangesvtovUSPAPvfrom:v
a.vAppraisersvonlyv
b.vOnlyvemployeesvofvthevfederalvgovernmentvandvbankingvregulatoryvagenciesv
c.vAppraisers,vusersvofvappraisalvservices,vregulators,vandvothersv
d.vAppraisalvregulatorsvonlyv-vcorrectvanswer-Appraisers,vusersvofvappraisalvservices,vregulators,vandvothers


WhenvexposingvproposedvchangesvtovUSPAP,vthevASBvprovidesvavminimumv________vcommentvperiodvonv
exposurevdrafts.v
a.v30-day
b.v90-dayv
c.v6-monthv
d.v2-yearv-vcorrectvanswer-30-day

, YouvwantvtovprovidevcommentsvonvavproposedvchangevtovUSPAPvbutvthevwrittenvcommentvperiodvexpiredvla
stvweek.vWhatvcanvyouvdo?v
a.vProvidevoralvcommentsvatvthevASB'svpublicvmeeting
b.vNothing;vyouvarevoutvofvluckv
c.vSubmitvavformalvrequestvforvanvextensionvofvthevcommentvperiodv
d.vContactvyourvelectedvrepresentativevinvthevU.S.vHousevofvRepresentativesv-vcorrectvanswer-
ProvidevoralvcommentsvatvthevASB'svpublicvmeeting


YouvsubmitvavcommentvlettervtovThevAppraisalvFoundationvregardingvavproposedvchangevtovUSPAP.vWhatv
willvTAFvdovwithvthevletter?v
a.vDestroyvitvaftervthev5-yearvrecordvretentionvperiodv
b.vMaintainvitvinvavpermanentvfile
c.vDistributevitvtovBoardvmembers,vwhovmayvreadvitvatvtheirvdiscretionv
d.vKeepvitsvcontentsvstrictlyvconfidentialv-vcorrectvanswer-Maintainvitvinvavpermanentvfile


ThevASBvisvconsideringvpublicvcommentvlettersvonvonevofvitsvExposurevDrafts.vWhenvconsideringvthesevco
mments,vthevASB'svprimaryvfocusvis:v
a.vThevreasoningvandvinsightvpresentedvinvthevletter
b.vWhethervorvnotvthevauthorvofvthevlettervisvavmembervofvavsponsoringvorganizationvofvthevFoundationv
c.vThevlicensevlevelvofvthevauthorvofvthevletterv
d.vHowvmanyvothervcommentersvhavevthevsamevopinionv-vcorrectvanswer-
Thevreasoningvandvinsightvpresentedvinvthevletter


Anvappraiservisvcompletingvanvappraisalvforvavpropertyvowner,vthevclient.vThevownervasksvthevappraiservtovtr
ansmitvthevassignmentvresultsvtovhisvattorneyvinsteadvofvhimvandvthevappraiservdoesvso.vWhichvstatementvisv
TRUEvregardingvthisvsituation?v
a.vThevattorneyvisvrequiredvbyvUSPAPvtovtransmitvthevreportvtovthevclient.v
b.vThevappraiservhasvtransmittedvavreportvasvdefinedvbyvUSPAP.
c.vThevappraiservmustvaddvthevattorney'svnamevinvthevreportvasvanvadditionalvintendedvuser.v
d.vThevappraiservisvrequiredvbyvUSPAPvtovtransmitvthevreportvdirectlyvtovthevpropertyvowner/client.v-
vcorrectvanswer-ThevappraiservhasvtransmittedvavreportvasvdefinedvbyvUSPAP.




Mayvanvappraiservpreparevanvappraisalvreviewvreportvandvtransmitvitvtovavpartyvothervthanvthevclient?v