Basic Appraisal Principles EXAM
UPDATED ACTUAL Questions and
CORRECT Answers
Real property appraisal reporting requirements are set forth in Standard ___ of the Uniform
Standards of Professional Appraisal Practice. - CORRECT ANSWER -
How much is the annual fee charged to each appraiser for the National Registry? - CORRECT
ANSWER - $40
How many creditable hours of education must be completed by an applicant for a Certified
Residential Appraiser credential, under the AQB Criteria?
75 - CORRECT ANSWER - 200
How should the experience log be handled in a situation where a Trainee Appraiser has more
than one Supervisory Appraiser? - CORRECT ANSWER - A separate log should be
maintained for each Supervisory Appraiser
What is the minimum length for an appraisal course to be acceptable toward qualifying
education? - CORRECT ANSWER - 15 hours
To what assignments does the SCOPE OF WORK RULE apply? (Select the best answer.) -
CORRECT ANSWER - Appraisal or appraisal review assignments only
Which of these statements is TRUE regarding the difference between state appraisal regulatory
agencies and professional appraiser organizations? - CORRECT ANSWER - State agencies
issue credentials, while appraiser organizations award designations.
Who is responsible for monitoring the Trainee Appraiser's progress along his or her path to
becoming a credentialed appraiser? - CORRECT ANSWER - The Supervisory Appraiser
, What type of examination is required in order for an appraisal course to be deemed acceptable
for appraiser qualifying education? - CORRECT ANSWER - A closed-book exam
What is the minimum number of years of experience required by the AQB before a certified
appraiser may act as a Supervisory Appraiser? - CORRECT ANSWER - three
Which statement is TRUE regarding the Trainee Appraiser's competency to inspect a property
unsupervised? - CORRECT ANSWER - It should be evaluated on an assignment-by-
assignment basis.
If an appraiser violates state law when completing an appraisal, which entity is MOST likely to
take formal disciplinary action against him or her? - CORRECT ANSWER - The state
appraisal regulatory agency
Each page of the experience log must be signed by whom? - CORRECT ANSWER - Both the
Trainee and the Supervisory Appraiser
A Supervisory Appraiser hires several Trainee Appraisers and has them turning out a high
volume of low-quality appraisal reports with minimal training and supervision. What name is
commonly used for this type of operation? - CORRECT ANSWER - An appraisal mill
Certified appraiser Ted agrees to present a seminar about appraisal issues to a local lending
institution's staff. Does the ETHICS RULE of USPAP apply to Ted when he is performing this
activity? - CORRECT ANSWER - Yes, because Ted is performing this service as an appraiser
A Certified General Appraiser wants to act as a Supervisory Appraiser to a Trainee Appraiser.
The General Appraiser had his certificate suspended by the state 27 months ago, but has had no
disciplinary issues since that time. Is the appraiser qualified to be a Supervisory Appraiser at this
time? (Select the best answer.) - CORRECT ANSWER - No, because the appraiser must have
been "in good standing" for a period of at least three years
UPDATED ACTUAL Questions and
CORRECT Answers
Real property appraisal reporting requirements are set forth in Standard ___ of the Uniform
Standards of Professional Appraisal Practice. - CORRECT ANSWER -
How much is the annual fee charged to each appraiser for the National Registry? - CORRECT
ANSWER - $40
How many creditable hours of education must be completed by an applicant for a Certified
Residential Appraiser credential, under the AQB Criteria?
75 - CORRECT ANSWER - 200
How should the experience log be handled in a situation where a Trainee Appraiser has more
than one Supervisory Appraiser? - CORRECT ANSWER - A separate log should be
maintained for each Supervisory Appraiser
What is the minimum length for an appraisal course to be acceptable toward qualifying
education? - CORRECT ANSWER - 15 hours
To what assignments does the SCOPE OF WORK RULE apply? (Select the best answer.) -
CORRECT ANSWER - Appraisal or appraisal review assignments only
Which of these statements is TRUE regarding the difference between state appraisal regulatory
agencies and professional appraiser organizations? - CORRECT ANSWER - State agencies
issue credentials, while appraiser organizations award designations.
Who is responsible for monitoring the Trainee Appraiser's progress along his or her path to
becoming a credentialed appraiser? - CORRECT ANSWER - The Supervisory Appraiser
, What type of examination is required in order for an appraisal course to be deemed acceptable
for appraiser qualifying education? - CORRECT ANSWER - A closed-book exam
What is the minimum number of years of experience required by the AQB before a certified
appraiser may act as a Supervisory Appraiser? - CORRECT ANSWER - three
Which statement is TRUE regarding the Trainee Appraiser's competency to inspect a property
unsupervised? - CORRECT ANSWER - It should be evaluated on an assignment-by-
assignment basis.
If an appraiser violates state law when completing an appraisal, which entity is MOST likely to
take formal disciplinary action against him or her? - CORRECT ANSWER - The state
appraisal regulatory agency
Each page of the experience log must be signed by whom? - CORRECT ANSWER - Both the
Trainee and the Supervisory Appraiser
A Supervisory Appraiser hires several Trainee Appraisers and has them turning out a high
volume of low-quality appraisal reports with minimal training and supervision. What name is
commonly used for this type of operation? - CORRECT ANSWER - An appraisal mill
Certified appraiser Ted agrees to present a seminar about appraisal issues to a local lending
institution's staff. Does the ETHICS RULE of USPAP apply to Ted when he is performing this
activity? - CORRECT ANSWER - Yes, because Ted is performing this service as an appraiser
A Certified General Appraiser wants to act as a Supervisory Appraiser to a Trainee Appraiser.
The General Appraiser had his certificate suspended by the state 27 months ago, but has had no
disciplinary issues since that time. Is the appraiser qualified to be a Supervisory Appraiser at this
time? (Select the best answer.) - CORRECT ANSWER - No, because the appraiser must have
been "in good standing" for a period of at least three years
