USPAP EXAM SCRIPT FINAL PAPER 2026
FULL QUESTIONS AND VERIFIED
SOLUTIONS
◉ The stated purpose of USPAP
Answer: Promote and maintain a high level of public trust in
appraisal practice.
◉ When obligated by law or regulation an appraiser must
Answer: comply with USPAP.
◉ USPAP applies to which types of properties?
Answer: Tangible and Intangible
◉ Valuation services
Answer: is not a subset of appraisal practice.
◉ An appraiser has the professional responsibility
Answer: to identify the capacity in which he or she is performing.
,◉ Reasons why an appraiser would prepare an appraisal assignment
in conformance with USPAP
Answer: 1. Agreement with client.
2. Law or regulation.
3. Voluntary choice.
◉ An appraiser who provides an appraisal service that is not an
appraisal, appraisal review, or appraisal consulting assignment does
not have workfile obligations associated with the assignment.
Answer: True
◉ An individual is not prohibited from providing valuation services
that involve advocacy while acting as an appraiser.
Answer: False
◉ When performing valuation services outside of appraisal practice,
appraisers must be careful not to _________________ the client and other
intended users about their role.
Answer: Mislead
◉ USPAP states that in a situation when an individual is not required
by law, regulation, or agreement to comply with USPAP:
Answer: The individual should still comply when acting as an
appraiser.
,◉ An appraiser is engaged to teach an appraisal course. What parts
of USPAP apply?
Answer: The parts of USPAP that apply generally to appraisal
practice.
◉ The Appraisal Practices Board (APB) was created when?
Answer: 2010
◉ The APB is a(n)
Answer: independent board.
◉ Boards within The Appraisal Foundation (TAF)
Answer: 1. Board of Trustees (BOT)
2. Appraisal Standards Board (ASB)
3. Appraisal Qualifications Board (AQB)
4. Appraisal Practices Board (APB)
◉ APB is a
Answer: private entity.
◉ The APB has authority to enforce the requirements of USPAP.
, Answer: False
◉ Who has the only jurisdiction and authority over appraisers?
Answer: States
◉ ASB
Answer: Develops, interprets, and amends USPAP.
◉ Advisory opinions
Answer: Not part of USPAP; reference material only.
◉ APB
Answer: Guidance is voluntary.
◉ ASC
Answer: Maintains the official National Registry of state certified
and licensed appraisers.
◉ State appraisal regulatory committees
Answer: responsible for issuing credentials to individual appraisers.
◉ Responsibilities of ASC:
FULL QUESTIONS AND VERIFIED
SOLUTIONS
◉ The stated purpose of USPAP
Answer: Promote and maintain a high level of public trust in
appraisal practice.
◉ When obligated by law or regulation an appraiser must
Answer: comply with USPAP.
◉ USPAP applies to which types of properties?
Answer: Tangible and Intangible
◉ Valuation services
Answer: is not a subset of appraisal practice.
◉ An appraiser has the professional responsibility
Answer: to identify the capacity in which he or she is performing.
,◉ Reasons why an appraiser would prepare an appraisal assignment
in conformance with USPAP
Answer: 1. Agreement with client.
2. Law or regulation.
3. Voluntary choice.
◉ An appraiser who provides an appraisal service that is not an
appraisal, appraisal review, or appraisal consulting assignment does
not have workfile obligations associated with the assignment.
Answer: True
◉ An individual is not prohibited from providing valuation services
that involve advocacy while acting as an appraiser.
Answer: False
◉ When performing valuation services outside of appraisal practice,
appraisers must be careful not to _________________ the client and other
intended users about their role.
Answer: Mislead
◉ USPAP states that in a situation when an individual is not required
by law, regulation, or agreement to comply with USPAP:
Answer: The individual should still comply when acting as an
appraiser.
,◉ An appraiser is engaged to teach an appraisal course. What parts
of USPAP apply?
Answer: The parts of USPAP that apply generally to appraisal
practice.
◉ The Appraisal Practices Board (APB) was created when?
Answer: 2010
◉ The APB is a(n)
Answer: independent board.
◉ Boards within The Appraisal Foundation (TAF)
Answer: 1. Board of Trustees (BOT)
2. Appraisal Standards Board (ASB)
3. Appraisal Qualifications Board (AQB)
4. Appraisal Practices Board (APB)
◉ APB is a
Answer: private entity.
◉ The APB has authority to enforce the requirements of USPAP.
, Answer: False
◉ Who has the only jurisdiction and authority over appraisers?
Answer: States
◉ ASB
Answer: Develops, interprets, and amends USPAP.
◉ Advisory opinions
Answer: Not part of USPAP; reference material only.
◉ APB
Answer: Guidance is voluntary.
◉ ASC
Answer: Maintains the official National Registry of state certified
and licensed appraisers.
◉ State appraisal regulatory committees
Answer: responsible for issuing credentials to individual appraisers.
◉ Responsibilities of ASC:
