USPAP 15 HOUR COURSE FINAL EXAM
SCRIPT 2026 FULL QUESTIONS AND
CORRECT RESPONSES
◉ How must recognition of my significant appraisal assistance be
included when there is no written report, but significant assistance
was provided and documentation of my work is in the workfile?
Answer: Based USPAP, the workfile of an oral report must include a
signed certification stating the name of the person or persons
providing significant appraisal assistance. The oral report must also
include a summary of the extent of that assistance because of
Standards Rule 2-4 requires that oral reports address the
substantive matters set forth in Standards Rule 2-2(a), which are the
requirements for an Appraisal Report.
◉ I was recently told that USPAP allows appraisers to wait and
create a workfile after the report has been delivered to the client for
an appraisal or appraisal review assignment. Is this true?
Answer: No, the RECORD KEEPING RULE states: A workfile must be
in existence prior to the issuance of a written or oral report. A
written summary of an oral report must be added to the workfile
within a reasonable time after the issuance of the oral report.
, ◉ The RECORD KEEPING RULE states, in part: The workfile must
include....true copies of all written reports.... Does a true copy have to
include a signature on the certification?
Answer: Yes. A true copy is a replica of the report sent to the client.
Any signatures that were affixed to the original report must also
exist on the copy for the workfile.
◉ I just completed an assignment on a mid-size office property that I
am well qualified to appraise. How ever the client is very angry and
refusing to pay me saying I did not use the correct definition of
market value and that I did not follow other requirements for
appraisals used by federally regulated financial institutions. The
client did not tell me about these things when I started the
assignment. I think it is their fault and not mine. I said if they want to
pay me more, I will re-do the report. Who is correct and has there
been a USPAP violation.
Answer: The client is correct. The appraiser has the responsibility to
know all the laws and regulations applicable to an assignment,
independent of information from the client. The COMPETENCY
RULE requires recognition of, and compliance with, laws and
regulations that apply to the appraiser or to the assignment.. The
SCOPE OF WORK RULE reiterates and expands this requirement in
its discussion of assignment conditions.
◉ An appraiser is asked to accept an assignment involving a
property type with which he has had no previous experience or
knowledge. The appraiser notifies the client of his inexperience and
SCRIPT 2026 FULL QUESTIONS AND
CORRECT RESPONSES
◉ How must recognition of my significant appraisal assistance be
included when there is no written report, but significant assistance
was provided and documentation of my work is in the workfile?
Answer: Based USPAP, the workfile of an oral report must include a
signed certification stating the name of the person or persons
providing significant appraisal assistance. The oral report must also
include a summary of the extent of that assistance because of
Standards Rule 2-4 requires that oral reports address the
substantive matters set forth in Standards Rule 2-2(a), which are the
requirements for an Appraisal Report.
◉ I was recently told that USPAP allows appraisers to wait and
create a workfile after the report has been delivered to the client for
an appraisal or appraisal review assignment. Is this true?
Answer: No, the RECORD KEEPING RULE states: A workfile must be
in existence prior to the issuance of a written or oral report. A
written summary of an oral report must be added to the workfile
within a reasonable time after the issuance of the oral report.
, ◉ The RECORD KEEPING RULE states, in part: The workfile must
include....true copies of all written reports.... Does a true copy have to
include a signature on the certification?
Answer: Yes. A true copy is a replica of the report sent to the client.
Any signatures that were affixed to the original report must also
exist on the copy for the workfile.
◉ I just completed an assignment on a mid-size office property that I
am well qualified to appraise. How ever the client is very angry and
refusing to pay me saying I did not use the correct definition of
market value and that I did not follow other requirements for
appraisals used by federally regulated financial institutions. The
client did not tell me about these things when I started the
assignment. I think it is their fault and not mine. I said if they want to
pay me more, I will re-do the report. Who is correct and has there
been a USPAP violation.
Answer: The client is correct. The appraiser has the responsibility to
know all the laws and regulations applicable to an assignment,
independent of information from the client. The COMPETENCY
RULE requires recognition of, and compliance with, laws and
regulations that apply to the appraiser or to the assignment.. The
SCOPE OF WORK RULE reiterates and expands this requirement in
its discussion of assignment conditions.
◉ An appraiser is asked to accept an assignment involving a
property type with which he has had no previous experience or
knowledge. The appraiser notifies the client of his inexperience and
