National USPAP Course Exam
Questions With Solved Solutions
The Appraisal Foundation has the authority to enforce the requirements of
USPAP. - ANSWER>>False
Currently, the boards within the Appraisal Foundation include: -
ANSWER>>Appraisal Standards Board, Appraisal Qualifications Board,
Board of Trustees
Which Foundation board is responsible for USPAP? - ANSWER>>Appraisal
Standards Board
Qualification criteria for appraiser certification and recertification are
disseminated to state appraisal boards by the: - ANSWER>>Appraisal
Qualifications Board
Which entity is responsible for establishing education and experience
requirements for licensing and certification of appraisers? -
ANSWER>>Appraisal Qualifications Board
Which entity appoints members of the AQB and ASB? - ANSWER>>Board of
Trustees
USPAP is written, amended, and interpreted by the: - ANSWER>>Appraisal
Standards Board
,Advisory Opinions are best described as: - ANSWER>>not part of USPAP,
but included as reference material
Who is responsible for issuing credentials to individual appraisers? -
ANSWER>>State appraisal regulatory agencies
Which entity maintains the official National Registry of state-certified and
licensed appraisers? - ANSWER>>Appraisal Subcommittee (ASC)
Which is NOT a responsibility of the Appraisal Subcommittee (ASC)? -
ANSWER>>writing, interpreting and amending USPAP
USPAP is enforced by: - ANSWER>>state appraiser licensing/certification
agencies
Which part of USPAP establishes the requirements for workfile content for
an appraisal or appraisal review assignment? - ANSWER>>Record Keeping
Rule
Why are USPAP Advisory Opinions issued? - ANSWER>>to offer advice
Which of these is considered an integral part of USPAP and has the same
weight as the components they address? - ANSWER>>comments
The first step in the appraisal process is: - ANSWER>>identify the problem
, 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 PREAMBLE states that USPAP intended to benefit: -
ANSWER>>appraisers and users of appraisal services
When obligated by law or regulation, an appraiser _______ comply with
USPAP. - ANSWER>>must
What is the stated purpose of USPAP? - ANSWER>>Promote and maintain a
high level of public trust in appraisal practice
To which property types does USPAP apply? - ANSWER>>Both tangible and
intangible property
An appraiser has the professional responsibility to identify the capacity in
which he or she is performing. - ANSWER>>true
The requirement for USPAP compliance in an appraisal assignment could be
the result of - ANSWER>>law or regulation, voluntary choice by the
appraiser, or agreement with the client
A valuation service that is premised upon advocacy: - ANSWER>>cannot be
performed by an individual acting as an appraiser
Questions With Solved Solutions
The Appraisal Foundation has the authority to enforce the requirements of
USPAP. - ANSWER>>False
Currently, the boards within the Appraisal Foundation include: -
ANSWER>>Appraisal Standards Board, Appraisal Qualifications Board,
Board of Trustees
Which Foundation board is responsible for USPAP? - ANSWER>>Appraisal
Standards Board
Qualification criteria for appraiser certification and recertification are
disseminated to state appraisal boards by the: - ANSWER>>Appraisal
Qualifications Board
Which entity is responsible for establishing education and experience
requirements for licensing and certification of appraisers? -
ANSWER>>Appraisal Qualifications Board
Which entity appoints members of the AQB and ASB? - ANSWER>>Board of
Trustees
USPAP is written, amended, and interpreted by the: - ANSWER>>Appraisal
Standards Board
,Advisory Opinions are best described as: - ANSWER>>not part of USPAP,
but included as reference material
Who is responsible for issuing credentials to individual appraisers? -
ANSWER>>State appraisal regulatory agencies
Which entity maintains the official National Registry of state-certified and
licensed appraisers? - ANSWER>>Appraisal Subcommittee (ASC)
Which is NOT a responsibility of the Appraisal Subcommittee (ASC)? -
ANSWER>>writing, interpreting and amending USPAP
USPAP is enforced by: - ANSWER>>state appraiser licensing/certification
agencies
Which part of USPAP establishes the requirements for workfile content for
an appraisal or appraisal review assignment? - ANSWER>>Record Keeping
Rule
Why are USPAP Advisory Opinions issued? - ANSWER>>to offer advice
Which of these is considered an integral part of USPAP and has the same
weight as the components they address? - ANSWER>>comments
The first step in the appraisal process is: - ANSWER>>identify the problem
, 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 PREAMBLE states that USPAP intended to benefit: -
ANSWER>>appraisers and users of appraisal services
When obligated by law or regulation, an appraiser _______ comply with
USPAP. - ANSWER>>must
What is the stated purpose of USPAP? - ANSWER>>Promote and maintain a
high level of public trust in appraisal practice
To which property types does USPAP apply? - ANSWER>>Both tangible and
intangible property
An appraiser has the professional responsibility to identify the capacity in
which he or she is performing. - ANSWER>>true
The requirement for USPAP compliance in an appraisal assignment could be
the result of - ANSWER>>law or regulation, voluntary choice by the
appraiser, or agreement with the client
A valuation service that is premised upon advocacy: - ANSWER>>cannot be
performed by an individual acting as an appraiser
