Practice Questions and Answers (USPAP)

Personal property brokerage/dealership, appraisal reviews, and personal property appraisals are all included within appraisal practice. valuation services. market analysis. consulting. valuation services. The PREAMBLE of USPAP states that the Standards are C. limited to appraisers who are accredited or certified by appraisal organizations. A. only for appraisers. D. only for users of appraisal services B. for appraisers and users of appraisal services. B. for appraisers and users of appraisal services. According to USPAP, the party or parties who engage an appraiser in a specific assignment defines the C. appraiser's peers. B. party who pays the fee. D. other intended user A. client. A. client. For real property appraisers, USPAP is enforced by B. the Appraisal Standards Board. C. the Appraisal Subcommittee, through Congress. A. The Appraisal Foundation. D. state regulatory agencies. D. state regulatory agencies. For personal property appraisers, USPAP is enforced by C. the Appraisal Subcommittee, through Congress. A. accrediting and certifying professional membership organizations. D. state regulatory agencies. B. the Appraisal Standards Board. A. accrediting and certifying professional membership organizations. USPAP is developed, interpreted, and amended by the B. Appraiser Qualifications Board. C. Appraisal Subcommittee. A. Appraisal Standards Board. D. state regulatory agencies A. Appraisal Standards Board.