1|Page
NEWEST CERTIFIED GENARAL APPRAISER
Exam Preparation With Complete Questions And
Correct Answers With Rationales Already Graded
A+ Brand New Version!!
1. A fee appraiser seeks to get on the approved list for a local mortgage
company. The lender requires appraisers to provide sample appraisal
reports performed within the past year. Can the appraiser provide the
reports without violating USPAP?
A) No; unless the appraiser secures a release from the client of each
sample appraisal report
B) No; the ETHICS RULE prohibits appraisers from soliciting appraisal
work
C) Yes; if all essential elements of confidential information are removed
through redaction or the process of aggregation
D) Yes; an exception to the Confidentiality section of the ETHICS RULE
permits an appraiser to provide appraisal reports to a lender for this
purpose
Answer: C. The ETHICS RULE permits disclosure of redacted or
aggregated information when all confidential elements are removed, so
,2|Page
client authorization is not required for the remaining non-confidential
data.
2. What is the primary purpose of USPAP?
A) Set real estate tax rates
B) Promote uniform appraisal standards and ensure credibility
C) Establish property values
D) Regulate mortgage lending
Answer: B. USPAP establishes minimum standards for appraisal practice
to ensure credibility, consistency, and ethical conduct in valuation
assignments.
3. Under the ETHICS RULE of USPAP, confidentiality of assignment
results applies:
A) Only for the first year after the appraisal
B) Indefinitely, even after the minimum record keeping period
C) Until the client pays the appraisal fee
D) Only for the period during which the appraiser is actively practicing
Answer: B. The duty of confidentiality is perpetual; it does not expire
with the record-keeping period or the engagement.
,3|Page
4. When an appraiser accepts an assignment that requires knowledge
and experience the appraiser does not possess, USPAP requires the
appraiser to:
A) Decline the assignment outright
B) Accept the assignment and learn on the job
C) Disclose the lack of competency to the client and take all steps
necessary to become competent
D) Refer the assignment to another appraiser without further action
Answer: C. The COMPETENCY RULE mandates that the appraiser
disclose the lack of competency and then take steps to gain the required
competency before accepting the assignment.
5. Which of the following is a violation of the MANAGEMENT section of
the ETHICS RULE?
A) Accepting an assignment based on a predetermined value
B) Failing to maintain a work file for five years
C) Soliciting appraisal business through advertising
D) Using an appraiser trainee to inspect the property
Answer: A. The MANAGEMENT section prohibits accepting assignments
contingent upon reporting a predetermined value, direction, or
conclusion.
, 4|Page
6. In the context of USPAP, "assignment results" include all of the
following EXCEPT:
A) Final value opinion
B) Preliminary value estimates
C) Marketing time estimates
D) The appraiser's fee for the assignment
Answer: D. Assignment results are the opinions and conclusions
developed in an assignment; the fee is a business arrangement, not an
assignment result.
7. The SCOPE OF WORK RULE requires an appraiser to:
A) Always use the three traditional approaches to value
B) Perform the most exhaustive analysis possible
C) Identify the problem to be solved and determine the appropriate
scope of work
D) Use automated valuation models exclusively for consistency
Answer: C. The appraiser must properly identify the problem and then
determine a scope of work sufficient to produce credible assignment
results.
NEWEST CERTIFIED GENARAL APPRAISER
Exam Preparation With Complete Questions And
Correct Answers With Rationales Already Graded
A+ Brand New Version!!
1. A fee appraiser seeks to get on the approved list for a local mortgage
company. The lender requires appraisers to provide sample appraisal
reports performed within the past year. Can the appraiser provide the
reports without violating USPAP?
A) No; unless the appraiser secures a release from the client of each
sample appraisal report
B) No; the ETHICS RULE prohibits appraisers from soliciting appraisal
work
C) Yes; if all essential elements of confidential information are removed
through redaction or the process of aggregation
D) Yes; an exception to the Confidentiality section of the ETHICS RULE
permits an appraiser to provide appraisal reports to a lender for this
purpose
Answer: C. The ETHICS RULE permits disclosure of redacted or
aggregated information when all confidential elements are removed, so
,2|Page
client authorization is not required for the remaining non-confidential
data.
2. What is the primary purpose of USPAP?
A) Set real estate tax rates
B) Promote uniform appraisal standards and ensure credibility
C) Establish property values
D) Regulate mortgage lending
Answer: B. USPAP establishes minimum standards for appraisal practice
to ensure credibility, consistency, and ethical conduct in valuation
assignments.
3. Under the ETHICS RULE of USPAP, confidentiality of assignment
results applies:
A) Only for the first year after the appraisal
B) Indefinitely, even after the minimum record keeping period
C) Until the client pays the appraisal fee
D) Only for the period during which the appraiser is actively practicing
Answer: B. The duty of confidentiality is perpetual; it does not expire
with the record-keeping period or the engagement.
,3|Page
4. When an appraiser accepts an assignment that requires knowledge
and experience the appraiser does not possess, USPAP requires the
appraiser to:
A) Decline the assignment outright
B) Accept the assignment and learn on the job
C) Disclose the lack of competency to the client and take all steps
necessary to become competent
D) Refer the assignment to another appraiser without further action
Answer: C. The COMPETENCY RULE mandates that the appraiser
disclose the lack of competency and then take steps to gain the required
competency before accepting the assignment.
5. Which of the following is a violation of the MANAGEMENT section of
the ETHICS RULE?
A) Accepting an assignment based on a predetermined value
B) Failing to maintain a work file for five years
C) Soliciting appraisal business through advertising
D) Using an appraiser trainee to inspect the property
Answer: A. The MANAGEMENT section prohibits accepting assignments
contingent upon reporting a predetermined value, direction, or
conclusion.
, 4|Page
6. In the context of USPAP, "assignment results" include all of the
following EXCEPT:
A) Final value opinion
B) Preliminary value estimates
C) Marketing time estimates
D) The appraiser's fee for the assignment
Answer: D. Assignment results are the opinions and conclusions
developed in an assignment; the fee is a business arrangement, not an
assignment result.
7. The SCOPE OF WORK RULE requires an appraiser to:
A) Always use the three traditional approaches to value
B) Perform the most exhaustive analysis possible
C) Identify the problem to be solved and determine the appropriate
scope of work
D) Use automated valuation models exclusively for consistency
Answer: C. The appraiser must properly identify the problem and then
determine a scope of work sufficient to produce credible assignment
results.
