USPAP 2022-2025 Exam Questions with
correct Answers
A new edition of USPAP has been released. Which statement is true regarding the effective
date of this new edition of USPAP? - verified answersThe ASB determines when the edition of
USPAP will be effective.
You are reading an Advisory Opinion in the USPAP publication. Officially, Advisory Opinions
are considered: - verified answersOther communications, and not part of USPAP
Which statement is most accurate regarding the ASB's analysis of comments to exposure
drafts? - verified answersEach member of the ASB reads and considers all comments.
The ASB releases an exposure draft of proposed changes to USPAP, and you wish to provide
comments. At a minimum, you will have _______ to provide comments to the ASB. - verified
answers30 days
As the terms are used by the ASB, what is the difference between a Discussion Draft and an
Exposure Draft? - verified answersAn Exposure Draft is a formal proposal to revise USPAP,
while a Discussion Draft merely solicits feedback from industry participants.
Changes to USPAP may only be made after: - verified answersCompletion of the exposure
process and discussion and adoption at a public meeting
You want to participate in the USPAP revision process but are busy and prefer not to travel.
What is your best option? - verified answersRegister for ASB meetings and livestream them
on your computer as they are happening.
, Fair housing laws would apply to an appraisal of _________, but not to the appraisal of
____________. - verified answersA duplex, a medical office
One common thread in news articles about appraisers is the allegation that the appraisal
process is ________. Conversely, USPAP requires an appraiser to be ________. - verified
answersSubjective, objective
Published stories alleging bias and discrimination by appraisers have appeared: - verified
answersIn news outlets across the country
When does USPAP prohibit an appraiser from using or relying on SUPPORTED conclusions
about protected classes? - verified answersWhen such conclusions violate federal, state, or
local laws
In which of these situations might it be appropriate for an appraiser to research the number
of members of a protected class and use supported conclusions regarding members of this
protected class in an appraisal assignment? - verified answersWhen appraising a unit in an
age-restricted (55 and older) community
An appraiser is valuing a residential property in a divorce case. The appraiser develops an
inclination that precludes his impartiality and objectivity in the assignment, yet he proceeds
with the appraisal anyway. It can accurately be stated that the appraiser is: - verified
answersBiased
An appraiser issues an appraisal report on a single-unit residence that understated the GLA by
20%. Which statement is most accurate about this situation? - verified answersThe report is
misleading, and may constitute a violation of USPAP.
Which statement is true regarding the ETHICS RULE? - verified answersViolations of the
ETHICS RULE are among the most serious, and usually result in significant sanctions by state
enforcement agencies.
correct Answers
A new edition of USPAP has been released. Which statement is true regarding the effective
date of this new edition of USPAP? - verified answersThe ASB determines when the edition of
USPAP will be effective.
You are reading an Advisory Opinion in the USPAP publication. Officially, Advisory Opinions
are considered: - verified answersOther communications, and not part of USPAP
Which statement is most accurate regarding the ASB's analysis of comments to exposure
drafts? - verified answersEach member of the ASB reads and considers all comments.
The ASB releases an exposure draft of proposed changes to USPAP, and you wish to provide
comments. At a minimum, you will have _______ to provide comments to the ASB. - verified
answers30 days
As the terms are used by the ASB, what is the difference between a Discussion Draft and an
Exposure Draft? - verified answersAn Exposure Draft is a formal proposal to revise USPAP,
while a Discussion Draft merely solicits feedback from industry participants.
Changes to USPAP may only be made after: - verified answersCompletion of the exposure
process and discussion and adoption at a public meeting
You want to participate in the USPAP revision process but are busy and prefer not to travel.
What is your best option? - verified answersRegister for ASB meetings and livestream them
on your computer as they are happening.
, Fair housing laws would apply to an appraisal of _________, but not to the appraisal of
____________. - verified answersA duplex, a medical office
One common thread in news articles about appraisers is the allegation that the appraisal
process is ________. Conversely, USPAP requires an appraiser to be ________. - verified
answersSubjective, objective
Published stories alleging bias and discrimination by appraisers have appeared: - verified
answersIn news outlets across the country
When does USPAP prohibit an appraiser from using or relying on SUPPORTED conclusions
about protected classes? - verified answersWhen such conclusions violate federal, state, or
local laws
In which of these situations might it be appropriate for an appraiser to research the number
of members of a protected class and use supported conclusions regarding members of this
protected class in an appraisal assignment? - verified answersWhen appraising a unit in an
age-restricted (55 and older) community
An appraiser is valuing a residential property in a divorce case. The appraiser develops an
inclination that precludes his impartiality and objectivity in the assignment, yet he proceeds
with the appraisal anyway. It can accurately be stated that the appraiser is: - verified
answersBiased
An appraiser issues an appraisal report on a single-unit residence that understated the GLA by
20%. Which statement is most accurate about this situation? - verified answersThe report is
misleading, and may constitute a violation of USPAP.
Which statement is true regarding the ETHICS RULE? - verified answersViolations of the
ETHICS RULE are among the most serious, and usually result in significant sanctions by state
enforcement agencies.
