USPAP MCKISSOCK LATEST
EXAM QUESTIONS AND
ANSWERS 2026 - 2027
If a client requests a more current valuation on a property that was the
subject of a prior assignment, this is a(n) ____________. - ANSWERS-
new assignment
The subject of an appraisal review assignment may be - ANSWERS-
another appraiser's work that is completed as part of an appraisal or
appraisal review assignment
In performing an appraisal review a reviewer may use information that
was not available to the original appraiser in the normal course of
business as long as the information - ANSWERS-is not used in the
development of the reviewer's opinion of the quality of the work under
review
An appraisal review report - ANSWERS-must be separate from the
work under review
A reviewer is responsible for ensuring that there is __________ in a
review report so that it can be properly understood by __________. -
ANSWERS-Sufficient information; intended users
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1
, USPAP MCKISSOCK LATEST
EXAM QUESTIONS AND
ANSWERS 2026 - 2027
Which of the following reports require a signed certification -
ANSWERS-All oral and written reports covered in USPAP
Which of the following statements best describes advisory opinions -
ANSWERS-They are not part of USPAP but illustrate applicability and
provide guidance.
Regulations and guidelines that apply to an appraisal for a federally
regulated lending - ANSWERS-Assignment conditions
Developing an opinion of value of a property as of a specified future
date is - ANSWERS-A prospective appraisal
What does the effective date of an appraisal establish - ANSWERS-The
context of the value opinion
Currently, the boards within The Appraisal Foundation include: -
ANSWERS-Appraisal Standards Board, Appraiser Qualifications Board,
Board of Trustees
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2
, USPAP MCKISSOCK LATEST
EXAM QUESTIONS AND
ANSWERS 2026 - 2027
Which Foundation board is responsible for USPAP? - ANSWERS-
Appraisal Standards Board (ASB)
Which entity appoints members of the AQB and ASB? - ANSWERS-
Board of Trustees (BOT)
Qualification criteria for appraiser certification and recertification are
disseminated to state appraisal board by the? - ANSWERS-Appraiser
Qualifications Board
Which entity is responsible for establishing education and experience
requirements for licensing and certification of appraisers? - ANSWERS-
Appraiser Qualifications Board (AQB)
USPAP is written, amended, and interpreted by the: - ANSWERS-
Appraisal Standards Board (ASB)
Advisory Opinions are best described as - ANSWERS-not part of
USPAP, but included as reference material
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3
EXAM QUESTIONS AND
ANSWERS 2026 - 2027
If a client requests a more current valuation on a property that was the
subject of a prior assignment, this is a(n) ____________. - ANSWERS-
new assignment
The subject of an appraisal review assignment may be - ANSWERS-
another appraiser's work that is completed as part of an appraisal or
appraisal review assignment
In performing an appraisal review a reviewer may use information that
was not available to the original appraiser in the normal course of
business as long as the information - ANSWERS-is not used in the
development of the reviewer's opinion of the quality of the work under
review
An appraisal review report - ANSWERS-must be separate from the
work under review
A reviewer is responsible for ensuring that there is __________ in a
review report so that it can be properly understood by __________. -
ANSWERS-Sufficient information; intended users
END OF
PAGE
1
, USPAP MCKISSOCK LATEST
EXAM QUESTIONS AND
ANSWERS 2026 - 2027
Which of the following reports require a signed certification -
ANSWERS-All oral and written reports covered in USPAP
Which of the following statements best describes advisory opinions -
ANSWERS-They are not part of USPAP but illustrate applicability and
provide guidance.
Regulations and guidelines that apply to an appraisal for a federally
regulated lending - ANSWERS-Assignment conditions
Developing an opinion of value of a property as of a specified future
date is - ANSWERS-A prospective appraisal
What does the effective date of an appraisal establish - ANSWERS-The
context of the value opinion
Currently, the boards within The Appraisal Foundation include: -
ANSWERS-Appraisal Standards Board, Appraiser Qualifications Board,
Board of Trustees
END OF
PAGE
2
, USPAP MCKISSOCK LATEST
EXAM QUESTIONS AND
ANSWERS 2026 - 2027
Which Foundation board is responsible for USPAP? - ANSWERS-
Appraisal Standards Board (ASB)
Which entity appoints members of the AQB and ASB? - ANSWERS-
Board of Trustees (BOT)
Qualification criteria for appraiser certification and recertification are
disseminated to state appraisal board by the? - ANSWERS-Appraiser
Qualifications Board
Which entity is responsible for establishing education and experience
requirements for licensing and certification of appraisers? - ANSWERS-
Appraiser Qualifications Board (AQB)
USPAP is written, amended, and interpreted by the: - ANSWERS-
Appraisal Standards Board (ASB)
Advisory Opinions are best described as - ANSWERS-not part of
USPAP, but included as reference material
END OF
PAGE
3
