USPAP 15-HOUR COURSE
[Document subtitle]
[DATE]
[COMPANY NAME]
[Company address]
,The Preamble states that USPAP is
for appraisers and users of appraisal services.
The stated purpose of USPAP
Promote and maintain a high level of public trust in appraisal practice.
When obligated by law or regulation an appraiser must
comply with USPAP.
USPAP applies to which types of properties?
Tangible and Intangible
Valuation services
is not a subset of appraisal practice.
An appraiser has the professional responsibility
to identify the capacity in which he or she is performing.
Reasons why an appraiser would prepare an appraisal assignment in conformance with USPAP
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.
True
An individual is not prohibited from providing valuation services that involve advocacy while acting as an
appraiser.
False
When performing valuation services outside of appraisal practice, appraisers must be careful not to
_________________ the client and other intended users about their role.
Mislead
USPAP states that in a situation when an individual is not required by law, regulation, or agreement to
comply with USPAP:
The individual should still comply when acting as an appraiser.
An appraiser is engaged to teach an appraisal course. What parts of USPAP apply?
The parts of USPAP that apply generally to appraisal practice.
The Appraisal Practices Board (APB) was created when?
2010
The APB is a(n)
[Document subtitle]
[DATE]
[COMPANY NAME]
[Company address]
,The Preamble states that USPAP is
for appraisers and users of appraisal services.
The stated purpose of USPAP
Promote and maintain a high level of public trust in appraisal practice.
When obligated by law or regulation an appraiser must
comply with USPAP.
USPAP applies to which types of properties?
Tangible and Intangible
Valuation services
is not a subset of appraisal practice.
An appraiser has the professional responsibility
to identify the capacity in which he or she is performing.
Reasons why an appraiser would prepare an appraisal assignment in conformance with USPAP
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.
True
An individual is not prohibited from providing valuation services that involve advocacy while acting as an
appraiser.
False
When performing valuation services outside of appraisal practice, appraisers must be careful not to
_________________ the client and other intended users about their role.
Mislead
USPAP states that in a situation when an individual is not required by law, regulation, or agreement to
comply with USPAP:
The individual should still comply when acting as an appraiser.
An appraiser is engaged to teach an appraisal course. What parts of USPAP apply?
The parts of USPAP that apply generally to appraisal practice.
The Appraisal Practices Board (APB) was created when?
2010
The APB is a(n)
