USPAP Final Exam Questions With 100% Correct Answers 2025/2026

USPAP Final Exam Questions With 100% Correct Answers 2025/2026 The Appraisal Foundation has the authority to enforce the requirements of USPAP. - Answer -False; The Appraisal Foundation is a private entity. The Foundation and its boards have no enforcement authority in any jurisdiction. Which Foundation board is responsible for USPAP? - Answer -Appraisal Standards Board (ASB) Currently, the boards within The Appraisal Foundation include: - Answer -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? - Answer -Appraiser Qualifications Board (AQB) Which entity appoints members of the AQB and ASB? - Answer -Board of Trustees (BOT) Qualification criteria for appraiser certification and recertification are disseminated to state appraisal boards by the: - Answer -Appraiser Qualifications Board (AQB) Advisory Opinions are best described as - Answer -not part of USPAP, but included as reference material USPAP is written, amended, and interpreted by the: - Answer -Appraisal Standards Board (ASB) USPAP is enforced by: - Answer -State appraiser licensing/certification agenciesWhich is NOT a responsibility of the Appraisal Subcommittee (ASC)? - Answer -Writing, interpreting, and amending USPAP WRONG Answers: Monitoring the practices, procedures, and activities of The Appraisal Foundation, Maintaining a National Registry of licensed and certified appraisers, Overseeing each state's appraiser licensing and certification program are handled by the ASC Which entity maintains the official National Registry of state-certified and licensed appraisers? - Answer -Appraisal Subcommittee (ASC) Who is responsible for issuing credentials to individual appraisers? - Answer -State appraisal regulatory agencies 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 Which part of USPAP establishes the requirements for workfile content for an appraisal or appraisal review assignment? - Answer -RECORD KEEPING RULE In USPAP, the appraisal process is divided into two distinct types of activity: _________ and __________. - Answer -Development, reporting The first step in the appraisal process is: - Answer -Identify the problem