USPAP 15-Hour Course Exam
Questions and Answers 100% Pass
The Preamble states that USPAP is - ✔✔for appraisers and users of appraisal services.
The stated purpose of USPAP - ✔✔Promote and maintain a high level of public trust in
appraisal practice.
When obligated by law or regulation an appraiser must - ✔✔comply with USPAP.
USPAP applies to which types of properties? - ✔✔Tangible and Intangible
Valuation services - ✔✔is not a subset of appraisal practice.
An appraiser has the professional responsibility - ✔✔to identify the capacity in which
he or she is performing.
Reasons why an appraiser would prepare an appraisal assignment in conformance with
USPAP - ✔✔1. Agreement with client.
2. Law or regulation.
3. Voluntary choice.
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,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. - ✔✔True
An individual is not prohibited from providing valuation services that involve
advocacy while acting as an appraiser. - ✔✔False
When performing valuation services outside of appraisal practice, appraisers must be
careful not to _________________ the client and other intended users about their role. -
✔✔Mislead
USPAP states that in a situation when an individual is not required by law, regulation,
or agreement to comply with USPAP: - ✔✔The individual should still comply when
acting as an appraiser.
An appraiser is engaged to teach an appraisal course. What parts of USPAP apply? -
✔✔The parts of USPAP that apply generally to appraisal practice.
The Appraisal Practices Board (APB) was created when? - ✔✔2010
The APB is a(n) - ✔✔independent board.
Boards within The Appraisal Foundation (TAF) - ✔✔1. Board of Trustees (BOT)
2. Appraisal Standards Board (ASB)
3. Appraisal Qualifications Board (AQB)
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, 4. Appraisal Practices Board (APB)
APB is a - ✔✔private entity.
The APB has authority to enforce the requirements of USPAP. - ✔✔False
Who has the only jurisdiction and authority over appraisers? - ✔✔States
ASB - ✔✔Develops, interprets, and amends USPAP.
Advisory opinions - ✔✔Not part of USPAP; reference material only.
APB - ✔✔Guidance is voluntary.
ASC - ✔✔Maintains the official National Registry of state certified and licensed
appraisers.
State appraisal regulatory committees - ✔✔responsible for issuing credentials to
individual appraisers.
Responsibilities of ASC: - ✔✔• Establishes, improves, and promulgates the USPAP
• Subject, content, and substance of USPAP and other communication related to
appraisal standards.
• Establishes standards of professional appraisal practice for the guidance and
education of appraisers and users of appraisal services.
• Maintains the official National Registry of state certified and licensed appraisers.
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Questions and Answers 100% Pass
The Preamble states that USPAP is - ✔✔for appraisers and users of appraisal services.
The stated purpose of USPAP - ✔✔Promote and maintain a high level of public trust in
appraisal practice.
When obligated by law or regulation an appraiser must - ✔✔comply with USPAP.
USPAP applies to which types of properties? - ✔✔Tangible and Intangible
Valuation services - ✔✔is not a subset of appraisal practice.
An appraiser has the professional responsibility - ✔✔to identify the capacity in which
he or she is performing.
Reasons why an appraiser would prepare an appraisal assignment in conformance with
USPAP - ✔✔1. Agreement with client.
2. Law or regulation.
3. Voluntary choice.
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,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. - ✔✔True
An individual is not prohibited from providing valuation services that involve
advocacy while acting as an appraiser. - ✔✔False
When performing valuation services outside of appraisal practice, appraisers must be
careful not to _________________ the client and other intended users about their role. -
✔✔Mislead
USPAP states that in a situation when an individual is not required by law, regulation,
or agreement to comply with USPAP: - ✔✔The individual should still comply when
acting as an appraiser.
An appraiser is engaged to teach an appraisal course. What parts of USPAP apply? -
✔✔The parts of USPAP that apply generally to appraisal practice.
The Appraisal Practices Board (APB) was created when? - ✔✔2010
The APB is a(n) - ✔✔independent board.
Boards within The Appraisal Foundation (TAF) - ✔✔1. Board of Trustees (BOT)
2. Appraisal Standards Board (ASB)
3. Appraisal Qualifications Board (AQB)
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, 4. Appraisal Practices Board (APB)
APB is a - ✔✔private entity.
The APB has authority to enforce the requirements of USPAP. - ✔✔False
Who has the only jurisdiction and authority over appraisers? - ✔✔States
ASB - ✔✔Develops, interprets, and amends USPAP.
Advisory opinions - ✔✔Not part of USPAP; reference material only.
APB - ✔✔Guidance is voluntary.
ASC - ✔✔Maintains the official National Registry of state certified and licensed
appraisers.
State appraisal regulatory committees - ✔✔responsible for issuing credentials to
individual appraisers.
Responsibilities of ASC: - ✔✔• Establishes, improves, and promulgates the USPAP
• Subject, content, and substance of USPAP and other communication related to
appraisal standards.
• Establishes standards of professional appraisal practice for the guidance and
education of appraisers and users of appraisal services.
• Maintains the official National Registry of state certified and licensed appraisers.
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