©FYNDLAY 2025 ALL RIGHTS RESERVED 5:17 PM A+
USPAP 15-hour Course Exam Questions And
Answers |Latest 2025 | Guaranteed Pass
The concept of public trust means that an appraiser must act: - Answer✔in the public's interest
USPAP establishes standards that are applicable in the appraisal of: - Answer✔real property,
intangible property, and personal property
Which statement is TRUE regarding The Appraisal Foundation and USPAP enforcement
authority? - Answer✔The Appraisal Foundation does not have the authority to enforce the
requirements of USPAP.
Which entity is responsible for establishing education and experience requirements for
licensing and certification of appraisers? - Answer✔Appraiser Qualifications Board (AQB)
Qualification criteria for appraiser certification and recertification are disseminated to state
appraisal boards by the: - Answer✔Appraiser Qualifications Board (AQB)
Which entity appoints members of the Foundation's independent Boards? - Answer✔Board of
Trustees (BOT)
USPAP is developed, interpreted, and amended by the: - Answer✔Appraisal Standards Board
(ASB)
1
, ©FYNDLAY 2025 ALL RIGHTS RESERVED 5:17 PM A+
Advisory Opinions are best described as - Answer✔Not part of USPAP, but included as
reference material
The ASB is considering comment letters written by members of the public regarding a proposed
revision to USPAP. When reviewing these comment letters, the ASB focuses on: - Answer✔The
reasoning and insight presented in the letter
Which is NOT a responsibility of the Appraisal Subcommittee (ASC)? - Answer✔Developing,
amending, and interpreting USPAP
Who is responsible for issuing credentials to individual appraisers? - Answer✔State appraisal
regulatory agencies
Under FIRREA, USPAP is enforced by: - Answer✔State appraiser licensing/certification agencies
Which entity maintains the official national registry of state-certified and licensed appraisers? -
Answer✔Appraisal Subcommittee (ASC)
In USPAP, the appraisal process is divided into two distinct types of activity: _________ and
__________. - Answer✔development, reporting
Which step in the appraisal process involves communication of the appraiser's opinions and
conclusions? - Answer✔reporting
The first step in the appraisal process is: - Answer✔Identify the problem
A preference or inclination that precludes an appraiser's impartiality, independence, or
objectivity is: - Answer✔bias
2
, ©FYNDLAY 2025 ALL RIGHTS RESERVED 5:17 PM A+
An appraiser is not permitted to be ____________ when performing an appraisal. - Answer✔an
advocate
conveys a mental state that does not favor one side over another at the outset of an
investigation is what? - Answer✔impartiality
representing the cause or interest of another, even if that cause or interest does not necessarily
coincide with one's own beliefs, opinions, conclusions, or recommendations is what? -
Answer✔advocacy
If an appraiser assumes a condition to be true, and evidence supports that belief, although that
fact is not certain, this is an example of: - Answer✔an extraordinary assumption
If an appraiser assumes a condition to be true that does not exist for the purposes of analysis,
this is an example of: - Answer✔hypothetical condition
The terms extraordinary assumption and hypothetical condition: - Answer✔Have different
meanings within USPAP
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: - Answer✔cost
"The monetary relationship between properties and those who buy, sell or use those
properties" is the definition of: - Answer✔value
Which of these statements is TRUE about the USPAP definition of client? - Answer✔The client
may engage the appraiser through an agent.
Which statement about intended users is TRUE? - Answer✔The client is always an intended
user
3
USPAP 15-hour Course Exam Questions And
Answers |Latest 2025 | Guaranteed Pass
The concept of public trust means that an appraiser must act: - Answer✔in the public's interest
USPAP establishes standards that are applicable in the appraisal of: - Answer✔real property,
intangible property, and personal property
Which statement is TRUE regarding The Appraisal Foundation and USPAP enforcement
authority? - Answer✔The Appraisal Foundation does not have the authority to enforce the
requirements of USPAP.
Which entity is responsible for establishing education and experience requirements for
licensing and certification of appraisers? - Answer✔Appraiser Qualifications Board (AQB)
Qualification criteria for appraiser certification and recertification are disseminated to state
appraisal boards by the: - Answer✔Appraiser Qualifications Board (AQB)
Which entity appoints members of the Foundation's independent Boards? - Answer✔Board of
Trustees (BOT)
USPAP is developed, interpreted, and amended by the: - Answer✔Appraisal Standards Board
(ASB)
1
, ©FYNDLAY 2025 ALL RIGHTS RESERVED 5:17 PM A+
Advisory Opinions are best described as - Answer✔Not part of USPAP, but included as
reference material
The ASB is considering comment letters written by members of the public regarding a proposed
revision to USPAP. When reviewing these comment letters, the ASB focuses on: - Answer✔The
reasoning and insight presented in the letter
Which is NOT a responsibility of the Appraisal Subcommittee (ASC)? - Answer✔Developing,
amending, and interpreting USPAP
Who is responsible for issuing credentials to individual appraisers? - Answer✔State appraisal
regulatory agencies
Under FIRREA, USPAP is enforced by: - Answer✔State appraiser licensing/certification agencies
Which entity maintains the official national registry of state-certified and licensed appraisers? -
Answer✔Appraisal Subcommittee (ASC)
In USPAP, the appraisal process is divided into two distinct types of activity: _________ and
__________. - Answer✔development, reporting
Which step in the appraisal process involves communication of the appraiser's opinions and
conclusions? - Answer✔reporting
The first step in the appraisal process is: - Answer✔Identify the problem
A preference or inclination that precludes an appraiser's impartiality, independence, or
objectivity is: - Answer✔bias
2
, ©FYNDLAY 2025 ALL RIGHTS RESERVED 5:17 PM A+
An appraiser is not permitted to be ____________ when performing an appraisal. - Answer✔an
advocate
conveys a mental state that does not favor one side over another at the outset of an
investigation is what? - Answer✔impartiality
representing the cause or interest of another, even if that cause or interest does not necessarily
coincide with one's own beliefs, opinions, conclusions, or recommendations is what? -
Answer✔advocacy
If an appraiser assumes a condition to be true, and evidence supports that belief, although that
fact is not certain, this is an example of: - Answer✔an extraordinary assumption
If an appraiser assumes a condition to be true that does not exist for the purposes of analysis,
this is an example of: - Answer✔hypothetical condition
The terms extraordinary assumption and hypothetical condition: - Answer✔Have different
meanings within USPAP
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: - Answer✔cost
"The monetary relationship between properties and those who buy, sell or use those
properties" is the definition of: - Answer✔value
Which of these statements is TRUE about the USPAP definition of client? - Answer✔The client
may engage the appraiser through an agent.
Which statement about intended users is TRUE? - Answer✔The client is always an intended
user
3
