USPAP All Parts Sample Test Questions and Answers

USPAP All Parts Sample Test
Questions and Answers3

(Q) The PREAMBLE of USPAP states that the ASB promulgates Standards for - ANSWERS-(A) both
appraisers and users of appraisal services



(Q) An entity with the power to enforce USPAP is - ANSWERS-(A) any individual state regulatory
agency



(Q) USPAP is developed, interpreted, and amended by the - ANSWERS-(A) Appraisal Standards
Board



(Q) USPAP Advisory Opinions are issued to - ANSWERS-(A) illustrate the applicability of USPAP



(Q) Appraisal practice consists of only - ANSWERS-(A) valuation services performed by an
individual acting as an appraiser



(Q) An appraiser's peers are defined as other appraisers who - ANSWERS-(A) have expertise and
competency in a similar type of assignment



(Q) A condition which is contrary to what is known by the appraiser to exist on the effective
date of the assignment results, but is used for the purpose of analysis is an example of -
ANSWERS-(A) a hypothetical condition



(Q) The purpose of the Jurisdictional Exception Rule is to - ANSWERS-(A) preserve the balance of
USPAP when portion is contrary to law or regulation