USPAP Practice Exam Questions and 100% Correct Answers

The PREAMBLE states the purpose of USPAP is to promote and maintain a high level of public _____ in appraisal practice by establishing requirements for appraisers. A) Awareness B) Recognition C) Support D) Trust D) Trust USPAP benefits providers of appraisal services and a. the Appraisal Standards Board. b. disinterested parties. c. federal officials. d. users of appraisal services. D) Users of appraisal services When acting in the role of an appraiser, all of the following require compliance with all sections of USPAP, including the applicable STANDARDS 1 through 10, EXCEPT for a. appraisal. b. appraisal consulting. c. appraisal course development. d. appraisal review. C) Appraisal course development A valuation service performed by an individual acting as an appraiser requires the appraiser to a. hold a valid appraiser credential. b. inquire about the intended user's expectations. c. keep confidential the capacity in which he is performing. d. not be impartial in respect to the client. B) Inquire about the intended user's expectations. When an individual is performing valuation services outside of appraisal practice, that individual must be careful to a. charge a fee for his service. b. invoke jurisdictional exception. c. not misrepresent his role. d. refer to the party engaging him as "the client:' C) Not misrepresent his role