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USPAP Final Exam Questions And Answers
|Latest 2025 | Guaranteed Pass
The boards within the Appraisal foundation include - Answer✔Appraisal standards board,
appraisal qualificatioms board, appraisal practices board, board of trustees
Which independent board was created within the appraisal foundation in 2010 -
Answer✔Appraisal practices board APB
Does the appraisal foundation have the authority to enforce the requirements of USPAP -
Answer✔No
Which entity is responsible for establishing education and experience requirements for
licensing and certification of appraisers - Answer✔Appraiser qualifications board
Which entity appoints members of the APB, AQB, ASB - Answer✔BOT board of trustees
USPAP was developed interpreted and amended by - Answer✔Appraisal standards board ASB
The guidance issued by the Appraisal standards board is considered - Answer✔Voluntary
Advisory opinions are best described as - Answer✔Not a part of USPAP, but included as
reference material.
1
, ©FYNDLAY 2025 ALL RIGHTS RESERVED 5:17 PM A+
Under FIRREA USPAP is enforced by - Answer✔State Appraiser licensing/certification agencies
The first step in the appraisal process is - Answer✔Identify the problem
Which step in the appraisal process involves communication of the appraisers opinions and
conclusions - Answer✔Reporting
In USPAP the appraisal process is divided into two distinct types of activity -
Answer✔Developing and reporting
A preference or inclination that precludes an appraisers impartiality, independence or
objectivity - Answer✔Bias
An appraiser is not permitted to be ______ when performing an appraisal - Answer✔An
advocate
The terms extraordinary assumption and hypothetical condition - Answer✔Have different
meanings within USPAP
If an appraiser assumes a condition to be true, and evidence supports that belief, although that
fact is not certain - Answer✔Extraordinary assumption
If an appraiser assumes a condition to be true that does not exist for the purpose of analysis -
Answer✔Hypothetical condition
Using a public cost manual to determine the construction cost the result is - Answer✔Cost
2
USPAP Final Exam Questions And Answers
|Latest 2025 | Guaranteed Pass
The boards within the Appraisal foundation include - Answer✔Appraisal standards board,
appraisal qualificatioms board, appraisal practices board, board of trustees
Which independent board was created within the appraisal foundation in 2010 -
Answer✔Appraisal practices board APB
Does the appraisal foundation have the authority to enforce the requirements of USPAP -
Answer✔No
Which entity is responsible for establishing education and experience requirements for
licensing and certification of appraisers - Answer✔Appraiser qualifications board
Which entity appoints members of the APB, AQB, ASB - Answer✔BOT board of trustees
USPAP was developed interpreted and amended by - Answer✔Appraisal standards board ASB
The guidance issued by the Appraisal standards board is considered - Answer✔Voluntary
Advisory opinions are best described as - Answer✔Not a part of USPAP, but included as
reference material.
1
, ©FYNDLAY 2025 ALL RIGHTS RESERVED 5:17 PM A+
Under FIRREA USPAP is enforced by - Answer✔State Appraiser licensing/certification agencies
The first step in the appraisal process is - Answer✔Identify the problem
Which step in the appraisal process involves communication of the appraisers opinions and
conclusions - Answer✔Reporting
In USPAP the appraisal process is divided into two distinct types of activity -
Answer✔Developing and reporting
A preference or inclination that precludes an appraisers impartiality, independence or
objectivity - Answer✔Bias
An appraiser is not permitted to be ______ when performing an appraisal - Answer✔An
advocate
The terms extraordinary assumption and hypothetical condition - Answer✔Have different
meanings within USPAP
If an appraiser assumes a condition to be true, and evidence supports that belief, although that
fact is not certain - Answer✔Extraordinary assumption
If an appraiser assumes a condition to be true that does not exist for the purpose of analysis -
Answer✔Hypothetical condition
Using a public cost manual to determine the construction cost the result is - Answer✔Cost
2
