15 hr national USPAP course questions and
answers 2025\2026 A+ Grade
Which Foundation board is responsible for USPAP?
- correct answer Appraisal Standards Board (ASB)
Appraisal Subcommittee (ASC)
Consumer Financial Protection Bureau (CFPB)
Appraiser Qualifications Board (AQB)
The Appraisal Foundation has the authority to enforce the requirements of USPAP.
T or F
- correct answer false
The Appraisal Foundation is a private entity. The Foundation and its boards have no enforcement
authority in any jurisdiction.
Currently, the boards within The Appraisal Foundation include:
- correct answer Appraisal Standards Board, Appraiser Qualifications Board, Board of Trustees
Bias is permitted in an appraisal as long as the bias is clearly disclosed in the report.
- correct answer False
In appraisal practice, advocating the cause or interest of any party or issue is:
- correct answer Not permitted
,Under the ETHICS RULE, an individual acting as an appraiser must not advocate the cause or interest of
any party or issue.
The ethical obligations of USPAP apply to:
- correct answer Individual appraisers
USPAP does not apply to appraisal companies; however, the ETHICS RULE exhorts appraisers who are
employed by companies who do not conduct themselves in accordance with USPAP to take whatever
steps are appropriate to ensure USPAP compliance. USPAP does not apply to appraisal clients.
An appraiser must disclose any service he or she provided regarding the subject property for a period of
_________ prior to agreeing to perform the assignment.
- correct answer Three years
An appraiser is disclosing to a client the fact that she had previously appraised the subject property
within the prior three years. When making this disclosure, the appraiser must be careful to:
- correct answer Not disclose confidential information from the previous assignment
An appraiser has been asked to complete an appraisal assignment. The fee is to be paid only if the loan
closes. According to USPAP, may the appraiser accept the assignment under these conditions?
- correct answer No, the fee arrangement is an unethical contingency arrangement and violates the
ETHICS RULE.
In a real property appraisal assignment prepared for a mortgage lender, an appraiser is permitted by
USPAP to base his compensation for an appraisal assignment on:
- correct answer Whether or not the report is transmitted to the client by the due date
An appraiser may base his or her fee on whether or not the report is delivered in a timely manner.
However, the other answer choices were all listed in the ETHICS RULE as unethical contingencies.
The Confidentiality section of the ETHICS RULE prohibits an appraiser from disclosing confidential
information or _________ to unauthorized parties.
- correct answer Assignment results
, An appraiser concludes that a subject property has functional inadequacies. This conclusion is:
- correct answer An assignment result and must be treated as confidential
In most cases, an appraiser may share __________ from an appraisal assignment with other appraisers
without obtaining the client's consent.
- correct answer Physical characteristics
An appraiser completes an appraisal and transmits the report to the client. The report copy retained in
the appraiser's workfile does not have a signature affixed to it. Is this permissible under USPAP?
- correct answer No, a true copy must include a signature
An appraiser prepared an appraisal report in April 2019. He testified in court regarding the value of the
property in January 2020. The decision was rendered in February 2020 and was appealed in April 2020.
The appellate court heard the case in January 2021 and remanded the case for reconsideration by the
lower court. Final disposition of the case occurred in September 2021. At a minimum, how long must the
appraiser retain his workfile?
- correct answer April 2024
An appraiser must retain the workfile for five years after preparation or two years after final disposition
of any judicial proceeding in which the appraiser provided testimony related to the assignment,
whichever period is later. April 2024 (five years after preparation) is longer than September 2023 (two
years after final disposition).
Is an appraiser permitted by USPAP to create a workfile after transmitting the report to the client?
- correct answer NO
Which statement best describes the word "competency" as it relates to appraisal practice?
- correct answer It is fundamental to the definition of "appraiser."
Which of these is NOT one of the steps required by USPAP when an appraiser wishes to perform an
assignment for which he or she initially lacks the knowledge and experience?
- correct answer Use a hypothetical condition to complete the assignment as though the appraiser
already had the knowledge and experience
answers 2025\2026 A+ Grade
Which Foundation board is responsible for USPAP?
- correct answer Appraisal Standards Board (ASB)
Appraisal Subcommittee (ASC)
Consumer Financial Protection Bureau (CFPB)
Appraiser Qualifications Board (AQB)
The Appraisal Foundation has the authority to enforce the requirements of USPAP.
T or F
- correct answer false
The Appraisal Foundation is a private entity. The Foundation and its boards have no enforcement
authority in any jurisdiction.
Currently, the boards within The Appraisal Foundation include:
- correct answer Appraisal Standards Board, Appraiser Qualifications Board, Board of Trustees
Bias is permitted in an appraisal as long as the bias is clearly disclosed in the report.
- correct answer False
In appraisal practice, advocating the cause or interest of any party or issue is:
- correct answer Not permitted
,Under the ETHICS RULE, an individual acting as an appraiser must not advocate the cause or interest of
any party or issue.
The ethical obligations of USPAP apply to:
- correct answer Individual appraisers
USPAP does not apply to appraisal companies; however, the ETHICS RULE exhorts appraisers who are
employed by companies who do not conduct themselves in accordance with USPAP to take whatever
steps are appropriate to ensure USPAP compliance. USPAP does not apply to appraisal clients.
An appraiser must disclose any service he or she provided regarding the subject property for a period of
_________ prior to agreeing to perform the assignment.
- correct answer Three years
An appraiser is disclosing to a client the fact that she had previously appraised the subject property
within the prior three years. When making this disclosure, the appraiser must be careful to:
- correct answer Not disclose confidential information from the previous assignment
An appraiser has been asked to complete an appraisal assignment. The fee is to be paid only if the loan
closes. According to USPAP, may the appraiser accept the assignment under these conditions?
- correct answer No, the fee arrangement is an unethical contingency arrangement and violates the
ETHICS RULE.
In a real property appraisal assignment prepared for a mortgage lender, an appraiser is permitted by
USPAP to base his compensation for an appraisal assignment on:
- correct answer Whether or not the report is transmitted to the client by the due date
An appraiser may base his or her fee on whether or not the report is delivered in a timely manner.
However, the other answer choices were all listed in the ETHICS RULE as unethical contingencies.
The Confidentiality section of the ETHICS RULE prohibits an appraiser from disclosing confidential
information or _________ to unauthorized parties.
- correct answer Assignment results
, An appraiser concludes that a subject property has functional inadequacies. This conclusion is:
- correct answer An assignment result and must be treated as confidential
In most cases, an appraiser may share __________ from an appraisal assignment with other appraisers
without obtaining the client's consent.
- correct answer Physical characteristics
An appraiser completes an appraisal and transmits the report to the client. The report copy retained in
the appraiser's workfile does not have a signature affixed to it. Is this permissible under USPAP?
- correct answer No, a true copy must include a signature
An appraiser prepared an appraisal report in April 2019. He testified in court regarding the value of the
property in January 2020. The decision was rendered in February 2020 and was appealed in April 2020.
The appellate court heard the case in January 2021 and remanded the case for reconsideration by the
lower court. Final disposition of the case occurred in September 2021. At a minimum, how long must the
appraiser retain his workfile?
- correct answer April 2024
An appraiser must retain the workfile for five years after preparation or two years after final disposition
of any judicial proceeding in which the appraiser provided testimony related to the assignment,
whichever period is later. April 2024 (five years after preparation) is longer than September 2023 (two
years after final disposition).
Is an appraiser permitted by USPAP to create a workfile after transmitting the report to the client?
- correct answer NO
Which statement best describes the word "competency" as it relates to appraisal practice?
- correct answer It is fundamental to the definition of "appraiser."
Which of these is NOT one of the steps required by USPAP when an appraiser wishes to perform an
assignment for which he or she initially lacks the knowledge and experience?
- correct answer Use a hypothetical condition to complete the assignment as though the appraiser
already had the knowledge and experience
