©FYNDLAY 2025 ALL RIGHTS RESERVED 5:17 PM A+
USPAP Exam Questions And Answers
|Latest 2025 | Guaranteed Pass
Financial chaos began in the US during the - Answer✔1929 stock market crash after the great
depression
In the 1950s-70s double continued with - Answer✔-Works related areas
-Property taxation
-Federal housing programs
1990s trouble was because of... - Answer✔Mortgage scams and illegal house flipping.
1980s trouble was because of... - Answer✔the Savings and Loans Crisis
1990s to 2000s trouble was from... - Answer✔identity theft and appraisal report tampering.
Prior to 1930s, appeasing properties could be done by... - Answer✔mortgage brokers and real
estate agents
In the wake of the stock market crash and economic depression the first.... - Answer✔group of
appraisers were formed
Issues recognized by new professional appraisers - Answer✔-Provide credible services
1
, ©FYNDLAY 2025 ALL RIGHTS RESERVED 5:17 PM A+
-Have services provided by ethical and competent individuals
-Foster public trust
Ad-hoc Committee - Answer✔Eventually became USPAP
-find market value
-develop independent authority
TAF - Answer✔The Appraisal Foundation
Three boards on TAF - Answer✔-The Appraiser Qualifications Board
-The Appraisal Standards Board
-The Board of Trustees
USPAP has no legal authority but... - Answer✔NYS enforces it!
Congress contributed to USPAPs acceptance by... - Answer✔identifying it as the generally
accepted set of standard practices for the profession.
Title XI of the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA)
provided... - Answer✔Recognition and authorized federal institutions to reference USPAP
Uniform Relocation Assistance and Real Properties Acquisition Policies Act - Answer✔Where
the executive branch followed congress by referencing USPAP
2
, ©FYNDLAY 2025 ALL RIGHTS RESERVED 5:17 PM A+
With Office of Management and Budget (OMB) Circlular A-129, January 11, 1993.... -
Answer✔Other federal agencies recognized USPAP
The IRS bulletin 2006-46, November 13, 2006 generally - Answer✔Accepted USPAP appraisal
standards, defining a "qualified appraisal"
Other groups that accept USPAP as integrated standards in their policies. - Answer✔Fannie
mae, farmer mac, the farm credit admin, employee relation council
TAF definition - Answer✔The Appraisal Foundation
TAF IS - Answer✔-A Non-Profit
-An org authorized by congress
An org made up of other organizations
TAF has how many boards? - Answer✔Two!
Two TAF boards names - Answer✔-Appraiser Qualifications board
-Appraiser Standards Board
TAF Sponsors - Answer✔-Appraisal sponsors (non-profits)
-Affiliate sponsors (non-profits with valuation interest)
-International sponsors (non-profit based outside of US with valuation interest)
3
USPAP Exam Questions And Answers
|Latest 2025 | Guaranteed Pass
Financial chaos began in the US during the - Answer✔1929 stock market crash after the great
depression
In the 1950s-70s double continued with - Answer✔-Works related areas
-Property taxation
-Federal housing programs
1990s trouble was because of... - Answer✔Mortgage scams and illegal house flipping.
1980s trouble was because of... - Answer✔the Savings and Loans Crisis
1990s to 2000s trouble was from... - Answer✔identity theft and appraisal report tampering.
Prior to 1930s, appeasing properties could be done by... - Answer✔mortgage brokers and real
estate agents
In the wake of the stock market crash and economic depression the first.... - Answer✔group of
appraisers were formed
Issues recognized by new professional appraisers - Answer✔-Provide credible services
1
, ©FYNDLAY 2025 ALL RIGHTS RESERVED 5:17 PM A+
-Have services provided by ethical and competent individuals
-Foster public trust
Ad-hoc Committee - Answer✔Eventually became USPAP
-find market value
-develop independent authority
TAF - Answer✔The Appraisal Foundation
Three boards on TAF - Answer✔-The Appraiser Qualifications Board
-The Appraisal Standards Board
-The Board of Trustees
USPAP has no legal authority but... - Answer✔NYS enforces it!
Congress contributed to USPAPs acceptance by... - Answer✔identifying it as the generally
accepted set of standard practices for the profession.
Title XI of the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA)
provided... - Answer✔Recognition and authorized federal institutions to reference USPAP
Uniform Relocation Assistance and Real Properties Acquisition Policies Act - Answer✔Where
the executive branch followed congress by referencing USPAP
2
, ©FYNDLAY 2025 ALL RIGHTS RESERVED 5:17 PM A+
With Office of Management and Budget (OMB) Circlular A-129, January 11, 1993.... -
Answer✔Other federal agencies recognized USPAP
The IRS bulletin 2006-46, November 13, 2006 generally - Answer✔Accepted USPAP appraisal
standards, defining a "qualified appraisal"
Other groups that accept USPAP as integrated standards in their policies. - Answer✔Fannie
mae, farmer mac, the farm credit admin, employee relation council
TAF definition - Answer✔The Appraisal Foundation
TAF IS - Answer✔-A Non-Profit
-An org authorized by congress
An org made up of other organizations
TAF has how many boards? - Answer✔Two!
Two TAF boards names - Answer✔-Appraiser Qualifications board
-Appraiser Standards Board
TAF Sponsors - Answer✔-Appraisal sponsors (non-profits)
-Affiliate sponsors (non-profits with valuation interest)
-International sponsors (non-profit based outside of US with valuation interest)
3
