Mckissock Uspap Chapter 1
Questions & Answers With Complete Solutions
Graded A+
QUESTIONS AND ANSWERS
USPAP Provides.... ANSWER -1. A common basis for comparison
2. A reference source for all users of the document
3. A basis for uniform enforcement for state regulatory agencies
4. A reason for clients, other intended users, and the public to place their trust in the
services performed by professional appraisers
USPAP Stands for. ANSWER -Uniform Standards of Professional Appraisal Practice
Year Appraisal Foundation formed. ANSWER -1987
3 Boards of Appraisal Foundation. ANSWER -- Board of Trustees (BOT)
- The Appraiser Qualifications Board (AQB)
- The Appraisal Standards Board (ASB)
- Appraisal Practices Board (APB)
How does USPAP achieve legal authority. ANSWER -It achieves legal authority by
adoption, citation, or implementation by government agencies through regulation or
administrative actions, or by private enterprise in the form of contract requirements.
Questions & Answers With Complete Solutions
Graded A+
QUESTIONS AND ANSWERS
USPAP Provides.... ANSWER -1. A common basis for comparison
2. A reference source for all users of the document
3. A basis for uniform enforcement for state regulatory agencies
4. A reason for clients, other intended users, and the public to place their trust in the
services performed by professional appraisers
USPAP Stands for. ANSWER -Uniform Standards of Professional Appraisal Practice
Year Appraisal Foundation formed. ANSWER -1987
3 Boards of Appraisal Foundation. ANSWER -- Board of Trustees (BOT)
- The Appraiser Qualifications Board (AQB)
- The Appraisal Standards Board (ASB)
- Appraisal Practices Board (APB)
How does USPAP achieve legal authority. ANSWER -It achieves legal authority by
adoption, citation, or implementation by government agencies through regulation or
administrative actions, or by private enterprise in the form of contract requirements.
