USPAP Test Review
Acquiring competency - ANSdisclose lack of knowledge before, take steps to get competent,
describe lack of knowledge in report
ANS issued advisory opinions to demonstrate the applicability of appraisal standards to
specific circumstances. Application of the rule: In the event that a law prohibits compliance
with any part of the USPAP, the balance is maintained by the ANS. Appraisal development -
ANSperform with impartiality, objectivity, and independence without personal interests
Appraisal practice, which is only practiced by appraisers in the ANS, is the provision of
valuation services by a person acting as an appraiser, such as appraisal and appraisal
review, among other things. Appraisal review - ANSact of developing and communicating an
opinion about the quality of another appraiser's work that was performed
Appraisal standards board - ANSUSPAP is developed, interpreted and amended by
_________
Appraisal subcommittee - ANSmaintains the official national registry of state certified and
licensed appraisers
Appraisal Subcommittee - ANSoperations are funded by state certified appraisers thru their
license renewal payment in the form of a National Registry fee. Fee is paid to states and
transferred to this committee
Appraiser peers - ANSother appraisers who have expertise and competency in a similar
type of assignment
The minimum requirements for real estate appraiser and supervisor certification are set by
AQB and ANS. As an appraiser, ANS anticipates that the service will be rendered impartially,
independently, and objectively. ASB - ANSrevises and promulgates USPAP; responsible for
subject, content, and substance of USPAP
Assignment - ANSan agreement between an appraiser and client to provide valuation
service
Results of an assignment are the opinions or conclusions drawn by an ANSan appraiser for
that assignment. Client - ANSthe party that hires an appraiser for a specific task through
employment or contract Client, parties specified by client, state agencies, judge, authorized
professional on review committee - ANSMust not disclose confidential information to any
besides: (5)
Competency rule - ANSRequires the appraiser to disclose lack of knowledge before
accepting assignment
ANS disclose the work because the intended users rely on our results. Any services
provided by the appraiser regarding the subject property within the three years immediately
preceding assignment acceptance are subject to disclosure obligations. Exposure time -
ANSestimated length of time property interest being appraised would have been offered on
the market prior to hypothetical consummation of a sale at market value on effective date of
appraisal
Law, regulation, agreement - ANSWhen USPAP applies
Physical characteristics are not included in the assignment results for ANS. The extent to
which the property is identified is the scope of work, or ANS. scope of work - ANSthe type
and extent of an evaluation or review's research or analysis ANSexclusion of a valuation
Acquiring competency - ANSdisclose lack of knowledge before, take steps to get competent,
describe lack of knowledge in report
ANS issued advisory opinions to demonstrate the applicability of appraisal standards to
specific circumstances. Application of the rule: In the event that a law prohibits compliance
with any part of the USPAP, the balance is maintained by the ANS. Appraisal development -
ANSperform with impartiality, objectivity, and independence without personal interests
Appraisal practice, which is only practiced by appraisers in the ANS, is the provision of
valuation services by a person acting as an appraiser, such as appraisal and appraisal
review, among other things. Appraisal review - ANSact of developing and communicating an
opinion about the quality of another appraiser's work that was performed
Appraisal standards board - ANSUSPAP is developed, interpreted and amended by
_________
Appraisal subcommittee - ANSmaintains the official national registry of state certified and
licensed appraisers
Appraisal Subcommittee - ANSoperations are funded by state certified appraisers thru their
license renewal payment in the form of a National Registry fee. Fee is paid to states and
transferred to this committee
Appraiser peers - ANSother appraisers who have expertise and competency in a similar
type of assignment
The minimum requirements for real estate appraiser and supervisor certification are set by
AQB and ANS. As an appraiser, ANS anticipates that the service will be rendered impartially,
independently, and objectively. ASB - ANSrevises and promulgates USPAP; responsible for
subject, content, and substance of USPAP
Assignment - ANSan agreement between an appraiser and client to provide valuation
service
Results of an assignment are the opinions or conclusions drawn by an ANSan appraiser for
that assignment. Client - ANSthe party that hires an appraiser for a specific task through
employment or contract Client, parties specified by client, state agencies, judge, authorized
professional on review committee - ANSMust not disclose confidential information to any
besides: (5)
Competency rule - ANSRequires the appraiser to disclose lack of knowledge before
accepting assignment
ANS disclose the work because the intended users rely on our results. Any services
provided by the appraiser regarding the subject property within the three years immediately
preceding assignment acceptance are subject to disclosure obligations. Exposure time -
ANSestimated length of time property interest being appraised would have been offered on
the market prior to hypothetical consummation of a sale at market value on effective date of
appraisal
Law, regulation, agreement - ANSWhen USPAP applies
Physical characteristics are not included in the assignment results for ANS. The extent to
which the property is identified is the scope of work, or ANS. scope of work - ANSthe type
and extent of an evaluation or review's research or analysis ANSexclusion of a valuation
