USPAP 15-HOUR COURSE EXAM Q & AS LATES
2024/2025 (100%CORRECT SOLUTIONS) GRADED A+
FOR EXCELLENT PASS
Which statement is TRUE regarding The Appraisal Foundation and USPAP
enforcement authority? - correct answer ✅The Appraisal Foundation does not
have the authority to enforce the requirements of USPAP.
Which entity is responsible for establishing education and experience
requirements for licensing and certification of appraisers? - correct answer
✅Appraiser Qualifications Board (AQB)
Qualification criteria for appraiser certification and recertification are
disseminated to state appraisal boards by the: - correct answer ✅Appraiser
Qualifications Board (AQB)
Which entity appoints members of the Foundation's independent Boards? -
correct answer ✅Board of Trustees (BOT)
,USPAP is developed, interpreted, and amended by the: - correct answer
✅Appraisal Standards Board (ASB)
Advisory Opinions are best described as - correct answer ✅Not part of USPAP,
but included as reference material
The ASB is considering comment letters written by members of the public
regarding a proposed revision to USPAP. When reviewing these comment letters,
the ASB focuses on: - correct answer ✅The reasoning and insight presented in
the letter
Which is NOT a responsibility of the Appraisal Subcommittee (ASC)? - correct
answer ✅Developing, amending, and interpreting USPAP
Who is responsible for issuing credentials to individual appraisers? - correct
answer ✅State appraisal regulatory agencies
Under FIRREA, USPAP is enforced by: - correct answer ✅State appraiser
licensing/certification agencies
,Which entity maintains the official national registry of state-certified and licensed
appraisers? - correct answer ✅Appraisal Subcommittee (ASC)
In USPAP, the appraisal process is divided into two distinct types of activity:
_________ and __________. - correct answer ✅development, reporting
Which step in the appraisal process involves communication of the appraiser's
opinions and conclusions? - correct answer ✅reporting
The first step in the appraisal process is: - correct answer ✅Identify the problem
A preference or inclination that precludes an appraiser's impartiality,
independence, or objectivity is: - correct answer ✅bias
An appraiser is not permitted to be ____________ when performing an appraisal.
- correct answer ✅an advocate
conveys a mental state that does not favor one side over another at the outset of
an investigation is what? - correct answer ✅impartiality
, representing the cause or interest of another, even if that cause or interest does
not necessarily coincide with one's own beliefs, opinions, conclusions, or
recommendations is what? - correct answer ✅advocacy
If an appraiser assumes a condition to be true, and evidence supports that belief,
although that fact is not certain, this is an example of: - correct answer ✅an
extraordinary assumption
If an appraiser assumes a condition to be true that does not exist for the purposes
of analysis, this is an example of: - correct answer ✅hypothetical condition
The terms extraordinary assumption and hypothetical condition: - correct answer
✅Have different meanings within USPAP
By using a published cost manual, an appraiser determines that the construction
cost of a 2,500 square foot dwelling is $400,000. This figure represents the
dwelling's: - correct answer ✅cost
"The monetary relationship between properties and those who buy, sell or use
those properties" is the definition of: - correct answer ✅value
2024/2025 (100%CORRECT SOLUTIONS) GRADED A+
FOR EXCELLENT PASS
Which statement is TRUE regarding The Appraisal Foundation and USPAP
enforcement authority? - correct answer ✅The Appraisal Foundation does not
have the authority to enforce the requirements of USPAP.
Which entity is responsible for establishing education and experience
requirements for licensing and certification of appraisers? - correct answer
✅Appraiser Qualifications Board (AQB)
Qualification criteria for appraiser certification and recertification are
disseminated to state appraisal boards by the: - correct answer ✅Appraiser
Qualifications Board (AQB)
Which entity appoints members of the Foundation's independent Boards? -
correct answer ✅Board of Trustees (BOT)
,USPAP is developed, interpreted, and amended by the: - correct answer
✅Appraisal Standards Board (ASB)
Advisory Opinions are best described as - correct answer ✅Not part of USPAP,
but included as reference material
The ASB is considering comment letters written by members of the public
regarding a proposed revision to USPAP. When reviewing these comment letters,
the ASB focuses on: - correct answer ✅The reasoning and insight presented in
the letter
Which is NOT a responsibility of the Appraisal Subcommittee (ASC)? - correct
answer ✅Developing, amending, and interpreting USPAP
Who is responsible for issuing credentials to individual appraisers? - correct
answer ✅State appraisal regulatory agencies
Under FIRREA, USPAP is enforced by: - correct answer ✅State appraiser
licensing/certification agencies
,Which entity maintains the official national registry of state-certified and licensed
appraisers? - correct answer ✅Appraisal Subcommittee (ASC)
In USPAP, the appraisal process is divided into two distinct types of activity:
_________ and __________. - correct answer ✅development, reporting
Which step in the appraisal process involves communication of the appraiser's
opinions and conclusions? - correct answer ✅reporting
The first step in the appraisal process is: - correct answer ✅Identify the problem
A preference or inclination that precludes an appraiser's impartiality,
independence, or objectivity is: - correct answer ✅bias
An appraiser is not permitted to be ____________ when performing an appraisal.
- correct answer ✅an advocate
conveys a mental state that does not favor one side over another at the outset of
an investigation is what? - correct answer ✅impartiality
, representing the cause or interest of another, even if that cause or interest does
not necessarily coincide with one's own beliefs, opinions, conclusions, or
recommendations is what? - correct answer ✅advocacy
If an appraiser assumes a condition to be true, and evidence supports that belief,
although that fact is not certain, this is an example of: - correct answer ✅an
extraordinary assumption
If an appraiser assumes a condition to be true that does not exist for the purposes
of analysis, this is an example of: - correct answer ✅hypothetical condition
The terms extraordinary assumption and hypothetical condition: - correct answer
✅Have different meanings within USPAP
By using a published cost manual, an appraiser determines that the construction
cost of a 2,500 square foot dwelling is $400,000. This figure represents the
dwelling's: - correct answer ✅cost
"The monetary relationship between properties and those who buy, sell or use
those properties" is the definition of: - correct answer ✅value
