15hr national USPAP McKissock
complete set with Questions and correct
Answers
In order to determine the appropriate scope of work, the appraiser must ________ the problem
to be solved. - correct answer-✅Identify
Appraisers have broad _________ and significant _________ in determining the appropriate
scope of work in an assignment. - correct answer-✅Flexibility, responsibility
The credibility of assignment results is measured in the context of - correct answer-✅The
intended use
Which Foundation board is responsible for USPAP? - correct answer-✅Appraisal Standards
Board (ASB)
The Appraisal Foundation has the authority to enforce the requirements of USPAP. - correct
answer-✅False
The first step in the appraisal process is: - correct answer-✅Identify the problem
In USPAP, The appraisal process is divided into two distinct types of activity: ________ and
_______. - correct answer-✅Development, reporting
Which step in the appraisal process involves communication of the appraiser's opinions and
conclusions? - correct answer-✅Reporting
Which in tight city is responsible for establishing education and experience requirements for
licensing and certification of appraisers? - correct answer-✅Appraiser Qualifications Board
(AQB)
Qualification criteria for appraiser certification and recertification are disseminated to State
Appraisal boards by the: - correct answer-✅Appraiser Qualifications Board (AQB)
Which entitles the appoints members of the AQB and ASB? - correct answer-✅Board of
Trustees (BOT)
USPAP is written, amended, and interpreted by the: - correct answer-✅Appraisal Standards
Board (ASB)
Advisory Opinion are best described as - correct answer-✅not part of USPAP, but included as
references material
USPAP is enforced by: - correct answer-✅State appraiser licensing/certification agencies
Which entity maintains the official National Registry of state certified and license appraisers? -
correct answer-✅Appraisal Subcommittee (ASC)
Who is responsible for issuing credentials to individual appraisers? - correct answer-✅State
appraisal regulatory agencies
Which is NOT a responsibility of the Appraisal Subcommittee (ASC)? - correct answer-
✅Writing, interpreting, and amending USPAP
Why are USPAP Advisory Opinions issued? - correct answer-✅offer advice
Which of these is considered an integral part of USPAP and has the same weight as the
components the address? - correct answer-✅Comments
Which part of USPAP establishes the requirements for workfile content for an appraisal or
appraisal review assignment? - correct answer-✅RECORD KEEPING RULE
, When obligated by law or regulation, an appraiser _______ comply with USPAP. - correct
answer-✅must
The PREAMBLE states that USPAP intended to benefit: - correct answer-✅Appraisers and
users of appraisal services
To which property types does USPAP apply? - correct answer-✅Both tangible and intangible
property
What is the stated purpose of USPAP? - correct answer-✅Promote and maintain a high level of
public trust in appraisal practice
An appraiser has the professional responsibility to identify the capacity in which performing. -
correct answer-✅True
The requirement for USPAP compliance in an appraisal assignment could be the result of: -
correct answer-✅Any of these answers (agreement with the client, voluntary choice by the
appraiser, law or regulation)
USPAP States that in a situation when an individual is not required by law, regulation, or
agreement to comply with USPAP: - correct answer-✅The individual should still comply when
he or she is acting as an appraiser
A valuation service that is premised upon advocacy: - correct answer-✅It cannot be performed
by an individual acting as an appraiser
When performing valuation services outside of appraisal practice, an individual must be careful
not to ______ the client and other intended users about his or her role. - correct answer-
✅mislead
A preference or inclination that precludes an appraiser's impartiality, independence, or
objectivity is: - correct answer-✅bias
An appraiser is permitted to be biased when performing an appraisal, as long as the bias is
properly disclosed. - correct answer-✅False
If an appraiser assumes a condition to be true that does not exist for the purposes of analysis,
this is an example of: - correct answer-✅A hypothetical condition
if an appraiser assumes the condition to be true, and evidence supports that belief, although
that fact is not certain, this is an example of: - correct answer-✅An extraordinary assumption
By using a published cost manual, an appraiser determines that the construction cost of a 2,500
square foot dwelling is $400,000. This figure represents the dwelling's: - correct answer-✅Cost
An appraiser receives a copy of a signed sales agreement for an office building, which specifies
the agreed-upon amount of $950,000. What does the for fire represent? - correct answer-
✅Price
An appraiser performs an appraisal assignment and develops an opinion of value. This value
opinion is - correct answer-✅an assignment result
It is permissible for an appraiser to be engaged in an assignment by an agent, who is acting on
behalf of the client. - correct answer-✅True
According to USPAP, the party or parties who engage an appraiser in a specific assignment
defines the: - correct answer-✅client
Who is responsible for making the identification of the intended use in an assignment? - correct
answer-✅appraiser
An attended user is: - correct answer-✅A party who is identified by the appraiser based on
communication with a client at the time of the assignment
complete set with Questions and correct
Answers
In order to determine the appropriate scope of work, the appraiser must ________ the problem
to be solved. - correct answer-✅Identify
Appraisers have broad _________ and significant _________ in determining the appropriate
scope of work in an assignment. - correct answer-✅Flexibility, responsibility
The credibility of assignment results is measured in the context of - correct answer-✅The
intended use
Which Foundation board is responsible for USPAP? - correct answer-✅Appraisal Standards
Board (ASB)
The Appraisal Foundation has the authority to enforce the requirements of USPAP. - correct
answer-✅False
The first step in the appraisal process is: - correct answer-✅Identify the problem
In USPAP, The appraisal process is divided into two distinct types of activity: ________ and
_______. - correct answer-✅Development, reporting
Which step in the appraisal process involves communication of the appraiser's opinions and
conclusions? - correct answer-✅Reporting
Which in tight city is responsible for establishing education and experience requirements for
licensing and certification of appraisers? - correct answer-✅Appraiser Qualifications Board
(AQB)
Qualification criteria for appraiser certification and recertification are disseminated to State
Appraisal boards by the: - correct answer-✅Appraiser Qualifications Board (AQB)
Which entitles the appoints members of the AQB and ASB? - correct answer-✅Board of
Trustees (BOT)
USPAP is written, amended, and interpreted by the: - correct answer-✅Appraisal Standards
Board (ASB)
Advisory Opinion are best described as - correct answer-✅not part of USPAP, but included as
references material
USPAP is enforced by: - correct answer-✅State appraiser licensing/certification agencies
Which entity maintains the official National Registry of state certified and license appraisers? -
correct answer-✅Appraisal Subcommittee (ASC)
Who is responsible for issuing credentials to individual appraisers? - correct answer-✅State
appraisal regulatory agencies
Which is NOT a responsibility of the Appraisal Subcommittee (ASC)? - correct answer-
✅Writing, interpreting, and amending USPAP
Why are USPAP Advisory Opinions issued? - correct answer-✅offer advice
Which of these is considered an integral part of USPAP and has the same weight as the
components the address? - correct answer-✅Comments
Which part of USPAP establishes the requirements for workfile content for an appraisal or
appraisal review assignment? - correct answer-✅RECORD KEEPING RULE
, When obligated by law or regulation, an appraiser _______ comply with USPAP. - correct
answer-✅must
The PREAMBLE states that USPAP intended to benefit: - correct answer-✅Appraisers and
users of appraisal services
To which property types does USPAP apply? - correct answer-✅Both tangible and intangible
property
What is the stated purpose of USPAP? - correct answer-✅Promote and maintain a high level of
public trust in appraisal practice
An appraiser has the professional responsibility to identify the capacity in which performing. -
correct answer-✅True
The requirement for USPAP compliance in an appraisal assignment could be the result of: -
correct answer-✅Any of these answers (agreement with the client, voluntary choice by the
appraiser, law or regulation)
USPAP States that in a situation when an individual is not required by law, regulation, or
agreement to comply with USPAP: - correct answer-✅The individual should still comply when
he or she is acting as an appraiser
A valuation service that is premised upon advocacy: - correct answer-✅It cannot be performed
by an individual acting as an appraiser
When performing valuation services outside of appraisal practice, an individual must be careful
not to ______ the client and other intended users about his or her role. - correct answer-
✅mislead
A preference or inclination that precludes an appraiser's impartiality, independence, or
objectivity is: - correct answer-✅bias
An appraiser is permitted to be biased when performing an appraisal, as long as the bias is
properly disclosed. - correct answer-✅False
If an appraiser assumes a condition to be true that does not exist for the purposes of analysis,
this is an example of: - correct answer-✅A hypothetical condition
if an appraiser assumes the condition to be true, and evidence supports that belief, although
that fact is not certain, this is an example of: - correct answer-✅An extraordinary assumption
By using a published cost manual, an appraiser determines that the construction cost of a 2,500
square foot dwelling is $400,000. This figure represents the dwelling's: - correct answer-✅Cost
An appraiser receives a copy of a signed sales agreement for an office building, which specifies
the agreed-upon amount of $950,000. What does the for fire represent? - correct answer-
✅Price
An appraiser performs an appraisal assignment and develops an opinion of value. This value
opinion is - correct answer-✅an assignment result
It is permissible for an appraiser to be engaged in an assignment by an agent, who is acting on
behalf of the client. - correct answer-✅True
According to USPAP, the party or parties who engage an appraiser in a specific assignment
defines the: - correct answer-✅client
Who is responsible for making the identification of the intended use in an assignment? - correct
answer-✅appraiser
An attended user is: - correct answer-✅A party who is identified by the appraiser based on
communication with a client at the time of the assignment
