Basic Appraisal Principles EXAM Questions
and Answers
Real property appraisal reporting requirements are set forth in Standard ___ of the
Uniform Standards of Professional Appraisal Practice. - Correct Answers -
How much is the annual fee charged to each appraiser for the National Registry? -
Correct Answers -$40
How many creditable hours of education must be completed by an applicant for a
Certified Residential Appraiser credential, under the AQB Criteria?
75 - Correct Answers -200
How should the experience log be handled in a situation where a Trainee Appraiser has
more than one Supervisory Appraiser? - Correct Answers -A separate log should be
maintained for each Supervisory Appraiser
Appraiser's signature obligations under USPAP? - Correct Answers -The Trainee
Appraiser must sign the certification because he has signed the letter of transmittal.
An applicant for a Licensed Appraiser credential in Washington has accumulated 2,000
hours of appraisal experience during a period of 18 months. Which statement is TRUE
regarding the acceptability of this experience? - Correct Answers -The applicant needs
another six months of experience.
On the federal level, oversight authority over state appraisal regulatory agencies is
maintained by which entity or entities? - Correct Answers -Appraisal Subcommittee
(ASC)
A Trainee Appraiser is working toward a Certified General Appraiser credential. He has
established a timetable for completion of courses and accumulating experience hours;
however he is behind schedule and has missed many of his goals. What is the BEST
course of action for the Supervisory Appraiser? - Correct Answers -Allow for more
frequent monitoring of the Trainee Appraiser
What is the minimum length for an appraisal course to be acceptable toward qualifying
education? - Correct Answers -15 hours
To what assignments does the SCOPE OF WORK RULE apply? (Select the best
answer.) - Correct Answers -Appraisal or appraisal review assignments only
, Which of these statements is TRUE regarding the difference between state appraisal
regulatory agencies and professional appraiser organizations? - Correct Answers -State
agencies issue credentials, while appraiser organizations award designations.
Who is responsible for monitoring the Trainee Appraiser's progress along his or her path
to becoming a credentialed appraiser? - Correct Answers -The Supervisory Appraiser
What type of examination is required in order for an appraisal course to be deemed
acceptable for appraiser qualifying education? - Correct Answers -A closed-book exam
What is the minimum number of years of experience required by the AQB before a
certified appraiser may act as a Supervisory Appraiser? - Correct Answers -three
Which statement is TRUE regarding the Trainee Appraiser's competency to inspect a
property unsupervised? - Correct Answers -It should be evaluated on an assignment-
by-assignment basis.
If an appraiser violates state law when completing an appraisal, which entity is MOST
likely to take formal disciplinary action against him or her? - Correct Answers -The state
appraisal regulatory agency
Each page of the experience log must be signed by whom? - Correct Answers -Both the
Trainee and the Supervisory Appraiser
A Supervisory Appraiser hires several Trainee Appraisers and has them turning out a
high volume of low-quality appraisal reports with minimal training and supervision. What
name is commonly used for this type of operation? - Correct Answers -An appraisal mill
Certified appraiser Ted agrees to present a seminar about appraisal issues to a local
lending institution's staff. Does the ETHICS RULE of USPAP apply to Ted when he is
performing this activity? - Correct Answers -Yes, because Ted is performing this service
as an appraiser
A Certified General Appraiser wants to act as a Supervisory Appraiser to a Trainee
Appraiser. The General Appraiser had his certificate suspended by the state 27 months
ago, but has had no disciplinary issues since that time. Is the appraiser qualified to be a
Supervisory Appraiser at this time? (Select the best answer.) - Correct Answers -No,
because the appraiser must have been "in good standing" for a period of at least three
years
Trainee registrations in Washington are valid for _________ terms. - Correct Answers -
2 year
A Trainee Appraiser is working toward a Certified General Appraiser credential. He has
established a timetable for completion of courses and accumulating experience hours;
and Answers
Real property appraisal reporting requirements are set forth in Standard ___ of the
Uniform Standards of Professional Appraisal Practice. - Correct Answers -
How much is the annual fee charged to each appraiser for the National Registry? -
Correct Answers -$40
How many creditable hours of education must be completed by an applicant for a
Certified Residential Appraiser credential, under the AQB Criteria?
75 - Correct Answers -200
How should the experience log be handled in a situation where a Trainee Appraiser has
more than one Supervisory Appraiser? - Correct Answers -A separate log should be
maintained for each Supervisory Appraiser
Appraiser's signature obligations under USPAP? - Correct Answers -The Trainee
Appraiser must sign the certification because he has signed the letter of transmittal.
An applicant for a Licensed Appraiser credential in Washington has accumulated 2,000
hours of appraisal experience during a period of 18 months. Which statement is TRUE
regarding the acceptability of this experience? - Correct Answers -The applicant needs
another six months of experience.
On the federal level, oversight authority over state appraisal regulatory agencies is
maintained by which entity or entities? - Correct Answers -Appraisal Subcommittee
(ASC)
A Trainee Appraiser is working toward a Certified General Appraiser credential. He has
established a timetable for completion of courses and accumulating experience hours;
however he is behind schedule and has missed many of his goals. What is the BEST
course of action for the Supervisory Appraiser? - Correct Answers -Allow for more
frequent monitoring of the Trainee Appraiser
What is the minimum length for an appraisal course to be acceptable toward qualifying
education? - Correct Answers -15 hours
To what assignments does the SCOPE OF WORK RULE apply? (Select the best
answer.) - Correct Answers -Appraisal or appraisal review assignments only
, Which of these statements is TRUE regarding the difference between state appraisal
regulatory agencies and professional appraiser organizations? - Correct Answers -State
agencies issue credentials, while appraiser organizations award designations.
Who is responsible for monitoring the Trainee Appraiser's progress along his or her path
to becoming a credentialed appraiser? - Correct Answers -The Supervisory Appraiser
What type of examination is required in order for an appraisal course to be deemed
acceptable for appraiser qualifying education? - Correct Answers -A closed-book exam
What is the minimum number of years of experience required by the AQB before a
certified appraiser may act as a Supervisory Appraiser? - Correct Answers -three
Which statement is TRUE regarding the Trainee Appraiser's competency to inspect a
property unsupervised? - Correct Answers -It should be evaluated on an assignment-
by-assignment basis.
If an appraiser violates state law when completing an appraisal, which entity is MOST
likely to take formal disciplinary action against him or her? - Correct Answers -The state
appraisal regulatory agency
Each page of the experience log must be signed by whom? - Correct Answers -Both the
Trainee and the Supervisory Appraiser
A Supervisory Appraiser hires several Trainee Appraisers and has them turning out a
high volume of low-quality appraisal reports with minimal training and supervision. What
name is commonly used for this type of operation? - Correct Answers -An appraisal mill
Certified appraiser Ted agrees to present a seminar about appraisal issues to a local
lending institution's staff. Does the ETHICS RULE of USPAP apply to Ted when he is
performing this activity? - Correct Answers -Yes, because Ted is performing this service
as an appraiser
A Certified General Appraiser wants to act as a Supervisory Appraiser to a Trainee
Appraiser. The General Appraiser had his certificate suspended by the state 27 months
ago, but has had no disciplinary issues since that time. Is the appraiser qualified to be a
Supervisory Appraiser at this time? (Select the best answer.) - Correct Answers -No,
because the appraiser must have been "in good standing" for a period of at least three
years
Trainee registrations in Washington are valid for _________ terms. - Correct Answers -
2 year
A Trainee Appraiser is working toward a Certified General Appraiser credential. He has
established a timetable for completion of courses and accumulating experience hours;
