USPAP 15 Hour Course. Exam Questions And Answers |Latest 2025 | Guaranteed Pass

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USPAP 15 Hour Course. Exam Questions
And Answers |Latest 2025 | Guaranteed Pass



Which Foundation board is responsible for USPAP?


A.) Appraiser Qualifications Board (AQB)
B.) Appraisal Standards Board (ASB)
C.) Appraisal Subcommittee (ASC)

D.) Consumer Financial Protection Bureau (CFPB) - Answer✔B.) Appraisal Standards Board (ASB)


The Appraisal Foundation has the authority to enforce the requirements of USPAP.


A.) True

B.) False - Answer✔B.) False


Currently, the boards within The Appraisal Foundation include:


A.) Board of Trustees, Appraisal Standards Board, Appraisal Subcommittee


B.) Board of Trustees, Federal Housing Administration, Fannie Mae


C.) Appraisal Standards Board, Appraiser Qualifications Board, Board of Trustees


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D.) Appraisal Board, Appraisal Review Board, Administration Board - Answer✔C.) Appraisal
Standards Board, Appraiser Qualifications Board, Board of Trustees


Which entity is responsible for establishing education and experience requirements for
licensing and certification of appraisers?
A.) Appraiser Qualifications Board (AQB)
B.) Appraisal Subcommittee (ASC)
C.) Appraisal Standards Board (ASB)

D.) Board of Trustees (BOT) - Answer✔A.) Appraiser Qualifications Board (AQB)


Qualification criteria for appraiser certification and recertification are disseminated to state
appraisal boards by the:
A.) Consumer Financial Protection Bureau (CFPB)
B.) Appraiser Qualifications Board (AQB)
C.) Appraisal Standards Board (ASB)

D.) Board of Trustees (BOT) - Answer✔B.) Appraiser Qualifications Board (AQB)



Appraiser Qualifications Board (AQB) - Answer✔The Appraiser Qualifications Board (AQB)
establishes minimum education, experience, and other criteria for certification and
recertification of qualified real property appraisers. It is also responsible for disseminating real
property qualification criteria to states, government entities, and others.


Which entity appoints members of the AQB and ASB?
A.) They appoint their own members
B.) Appraisal Subcommittee (ASC)
C.) None of the answers shown

D.) Board of Trustees (BOT) - Answer✔D.) Board of Trustees (BOT)



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USPAP is written, amended, and interpreted by the:
A.) Appraiser Qualifications Board (AQB)
B.) Federal Reserve Board (FRB)
C.) Appraisal Standards Board (ASB)

D.) Appraisal Subcommittee (ASC) - Answer✔C.) Appraisal Standards Board (ASB)



Appraisal Standards Board (ASB) - Answer✔The Appraisal Standards Board (ASB) writes,
amends, and interprets USPAP.


Advisory Opinions are best described as
A.) not part of USPAP, but included as reference material
B.) issued by the Appraisal Subcommittee (ASC)
C.) subject to Fannie Mae requirements

D.) an alternative index to USPAP - Answer✔A.) not part of USPAP, but included as reference
material


Which entity maintains the official National Registry of state-certified and licensed appraisers?
A.) Appraisal Standards Board (ASB)
B.) Appraisal Subcommittee (ASC)
C.) Appraiser Qualifications Board (AQB)

D.) Federal Reserve Board (FRB) - Answer✔B.) Appraisal Subcommittee (ASC)



Appraisal Subcommittee (ASC) - Answer✔maintains a registry of all licensed and certified
appraisers in the United States. States submit the registry fees using funds collected from
appraisers.


USPAP is enforced by:
A.) The Federal Financial Institutions Examination Council (FFIEC)


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B.) Appraisal Subcommittee (ASC)
C.) Appraisal Standards Board (ASB)

D.) State appraiser licensing/certification agencies - Answer✔D.) State appraiser
licensing/certification agencies


Which is NOT a responsibility of the Appraisal Subcommittee (ASC)?
A.) Maintaining a National Registry of licensed and certified appraisers
B.) Monitoring the practices, procedures, and activities of The Appraisal Foundation
C.) Writing, interpreting, and amending USPAP

D.) Overseeing each state's appraiser licensing and certification program - Answer✔C.) Writing,
interpreting, and amending USPAP


Who is responsible for issuing credentials to individual appraisers?
A.) State appraisal regulatory agencies
B.) Appraisal Subcommittee (ASC)
C.) Appraisal Practices Board (APB)

D.) Appraiser Qualifications Board (AQB) - Answer✔A.) State appraisal regulatory agencies


Why are USPAP Advisory Opinions issued?
A.) To offer advice
B.) To establish new appraisal standards
C.) To revise existing standards

D.) To interpret existing standards - Answer✔A.) To offer advice


Which part of USPAP establishes the requirements for workfile content for an appraisal or
appraisal review assignment?
A.) JURISDICTIONAL EXCEPTION RULE
B.) Advisory Opinions

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