USPAP Questions With All Correct Answers 2026 Updated
1. According to the PREAMBLE in
US- PAP "The purpose of the Uniform Standards of
Professional Appraisal Practice (USPAP) is to
promote and maintain a high level of public
2. The expression "public trust" is trust in appraisal practice by es- tablishing
used in USPAP. What is public requirements for appraisers."
trust
Response: USPAP mentions public trust three
times. The PREAMBLE states that the purpose of
USPAP is to
and who or what is the public in the "... promote and maintain a high level of
public trust
USPAP in appraisal practice by establishing
context? requirements for appraisers." The PREAMBLE
also states "The appraiser's responsibility is to
protect the overall public trust and it is the
importance of the role of the appraiser that
places ethical obligations on those who serve in
this capacity." Lastly, the ETHICS RULE reinforces
this concept with "An appraiser must promote
and preserve the public trust inherent in
appraisal practice by observing the highest
standards of professional ethics."
3. A Brief History Lesson When USPAP was first promulgated, it was
revised quar-
terly (i.e., four times a year).
Beginning in 1992, it was published annually
with
a semi-annual update called a "mid-year
update" or "mid-year supplement."
In the mid-2000s, the ASB went to an 18-month
publi- cation cycle for two editions of USPAP.
Finally, in 2008, the first biennial edition of
, USPAP Questions With All Correct Answers 2026 Updated
USPAP was published. It was ettective from
January 1, 2008 to De- cember 31, 2009.
All subsequent editions of USPAP have been
ettective for two years each.
4. The Process of Revising USPAP
, USPAP Questions With All Correct Answers 2026 Updated
1) The ASB develops and submits drafts for
public ex- posure
2) Comments are solicited and received
during a spec- ified time period
3) The ASB reads and analyzes comments
received
4) Additional exposure drafts may be issued
5. The ASB considers suggestions and com- ments may be sought
for changes to USPAP from: 5) Changes are finalized at a public meeting
Appraisers, users of appraisal
ser- vices, regulators, and
others Appraisers, users of appraisal services, regulators,
Only employees of the federal gov- and others
ernment and banking regulatory
agencies
Appraisers only Appraisal
regulators only
6. When exposing proposed
changes to USPAP, the ASB
provides a min- imum
comment period
on exposure drafts.
2-year 30- 30-day
day 90-
day
6-month
7. You have a suggestion for a change Explain how the proposed change will
enhance public
to USPAP, and you want to tell the trust in appraisal practice
ASB about it. When making
your suggestion, it is helpful to
the ASB
, USPAP Questions With All Correct Answers 2026 Updated
if you:
Are forceful and pointed in
your criticism of the current
USPAP Explain how the
proposed change will enhance
public trust in ap- praisal
practice
Arrange private meetings with
as many members of the ASB
as you can
Bypass the ASB and submit
your proposal directly to the
Founda- tion's Board of
Trustees The term credible relates to development. A
primary ob-
8. USPAP uses the terms credible
and not misleading throughout the jective of the development Standards (i.e.,
STANDARDS
document. What is the 1, 3, 5, 7, and 9) is credible results. The word is
difference between the two? also used in the SCOPE OF WORK RULE and the
COMPETENCY RULE.
Misleading is a term that relates to reporting.
The re- porting Standards (i.e., STANDARDS 2, 4,
6, 8, and 10) require that appraisers
communicate their assignment results "in a
manner that is not misleading." The prohi- bition
9. An appraisal reviewer uses the against misleading communications is also
word "misleading" in relation to
the work under review. found in the ETHICS RULE.
Assuming the reviewer has used
this term prop- erly, the The report under review
reviewer is referring to: The
report under review
The original appraiser's develop-
1. According to the PREAMBLE in
US- PAP "The purpose of the Uniform Standards of
Professional Appraisal Practice (USPAP) is to
promote and maintain a high level of public
2. The expression "public trust" is trust in appraisal practice by es- tablishing
used in USPAP. What is public requirements for appraisers."
trust
Response: USPAP mentions public trust three
times. The PREAMBLE states that the purpose of
USPAP is to
and who or what is the public in the "... promote and maintain a high level of
public trust
USPAP in appraisal practice by establishing
context? requirements for appraisers." The PREAMBLE
also states "The appraiser's responsibility is to
protect the overall public trust and it is the
importance of the role of the appraiser that
places ethical obligations on those who serve in
this capacity." Lastly, the ETHICS RULE reinforces
this concept with "An appraiser must promote
and preserve the public trust inherent in
appraisal practice by observing the highest
standards of professional ethics."
3. A Brief History Lesson When USPAP was first promulgated, it was
revised quar-
terly (i.e., four times a year).
Beginning in 1992, it was published annually
with
a semi-annual update called a "mid-year
update" or "mid-year supplement."
In the mid-2000s, the ASB went to an 18-month
publi- cation cycle for two editions of USPAP.
Finally, in 2008, the first biennial edition of
, USPAP Questions With All Correct Answers 2026 Updated
USPAP was published. It was ettective from
January 1, 2008 to De- cember 31, 2009.
All subsequent editions of USPAP have been
ettective for two years each.
4. The Process of Revising USPAP
, USPAP Questions With All Correct Answers 2026 Updated
1) The ASB develops and submits drafts for
public ex- posure
2) Comments are solicited and received
during a spec- ified time period
3) The ASB reads and analyzes comments
received
4) Additional exposure drafts may be issued
5. The ASB considers suggestions and com- ments may be sought
for changes to USPAP from: 5) Changes are finalized at a public meeting
Appraisers, users of appraisal
ser- vices, regulators, and
others Appraisers, users of appraisal services, regulators,
Only employees of the federal gov- and others
ernment and banking regulatory
agencies
Appraisers only Appraisal
regulators only
6. When exposing proposed
changes to USPAP, the ASB
provides a min- imum
comment period
on exposure drafts.
2-year 30- 30-day
day 90-
day
6-month
7. You have a suggestion for a change Explain how the proposed change will
enhance public
to USPAP, and you want to tell the trust in appraisal practice
ASB about it. When making
your suggestion, it is helpful to
the ASB
, USPAP Questions With All Correct Answers 2026 Updated
if you:
Are forceful and pointed in
your criticism of the current
USPAP Explain how the
proposed change will enhance
public trust in ap- praisal
practice
Arrange private meetings with
as many members of the ASB
as you can
Bypass the ASB and submit
your proposal directly to the
Founda- tion's Board of
Trustees The term credible relates to development. A
primary ob-
8. USPAP uses the terms credible
and not misleading throughout the jective of the development Standards (i.e.,
STANDARDS
document. What is the 1, 3, 5, 7, and 9) is credible results. The word is
difference between the two? also used in the SCOPE OF WORK RULE and the
COMPETENCY RULE.
Misleading is a term that relates to reporting.
The re- porting Standards (i.e., STANDARDS 2, 4,
6, 8, and 10) require that appraisers
communicate their assignment results "in a
manner that is not misleading." The prohi- bition
9. An appraisal reviewer uses the against misleading communications is also
word "misleading" in relation to
the work under review. found in the ETHICS RULE.
Assuming the reviewer has used
this term prop- erly, the The report under review
reviewer is referring to: The
report under review
The original appraiser's develop-
