1
ASA USPAP Certification Exam Actual
Exam 2026/2027 | Questions with Verified
Answers | 100% Correct | Pass
Guaranteed
SECTION 1: Ethics & Competency Rules
Q1: An appraiser is asked to value a collection of vintage
watches. The appraiser has extensive experience with modern
luxury watches but limited experience with vintage models.
According to USPAP, the appraiser's first obligation is to:
A. Decline the assignment, as they are not competent.
B. Accept the assignment but disclose the lack of specific
experience in the report.
C. Disclose the lack of experience to the client before agreeing
to perform the assignment.
D. Accept the assignment and subcontract the vintage portion to
a specialist.
Correct Answer: C
Rationale: USPAP Citation: The COMPETENCY RULE states
that prior to accepting an assignment, an appraiser must identify
the problem and have the knowledge and experience to complete
it competently, OR disclose any lack of knowledge/experience
P a g e 1 | 56
, 2
to the client before acceptance and take all steps necessary to
complete the assignment competently. Application: The
appraiser must first disclose to the client (C) to allow for an
informed decision. Distractor Analysis: (A) is not required; the
rule allows for disclosure and steps to gain competency. (B)
violates timing; disclosure must occur before acceptance. (D)
may be a step taken after disclosure and client agreement.
Q2: An appraiser completes a personal property appraisal for a
client. Six months later, the client asks the appraiser to release a
copy of the report to the IRS for an audit. The appraiser refuses,
citing confidentiality. According to the ETHICS RULE, Conduct
section, the appraiser:
A. Acted correctly, as all client communications are confidential
indefinitely.
B. Must release the report only if the client provides written
authorization.
C. Is obligated to release the report to the IRS upon client
request.
D. May charge an additional fee for releasing the report to a
third party.
Correct Answer: C
Rationale: USPAP Citation: ETHICS RULE, Conduct, lines 67-
69: "An appraiser must not disclose confidential information or
assignment results prepared for a client to anyone other than the
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, 3
client and those specifically authorized by the client, except as
required by due process of law." Application: An IRS audit
constitutes due process of law, obligating release. Distractor
Analysis: (A) misinterprets the "due process" exception. (B)
describes standard procedure but doesn't address the legal
requirement. (D) is a business decision, not a USPAP
requirement, and doesn't override the legal obligation.
Q3: An appraiser realizes they made a significant calculation
error in a report delivered yesterday that increased the value
conclusion by 20%. They immediately prepare a corrected
report. According to the RECORD KEEPING RULE and
ETHICS RULE, the appraiser must:
A. Retain both the original and corrected report for a minimum
of five years.
B. Destroy the original erroneous report to avoid confusion.
C. Only retain the corrected report with a note that an error was
corrected.
D. Report the error to the state appraisal board within 24 hours.
Correct Answer: A
Rationale: USPAP Citation: RECORD KEEPING RULE
requires retaining "all information, data, and documentation
necessary to support the appraiser's opinion and conclusions" for
a minimum of five years. ETHICS RULE requires honesty and
not misleading. Retaining both documents provides an accurate
P a g e 3 | 56
, 4
record. Application: Both versions must be kept to document the
work and correction. Distractor Analysis: (B) violates record
keeping requirements and could be construed as concealing
information. (C) is insufficient; the original work product must
be retained. (D) is not a USPAP requirement; state laws vary on
error reporting.
Q4: An appraiser is offered a bonus fee if the appraisal value
meets a specific target number set by the client. According to the
ETHICS RULE, Management section, the appraiser should:
A. Accept the fee structure but ensure their opinion is unbiased.
B. Negotiate the bonus to be paid after the report is delivered.
C. Decline the assignment as the fee structure is contingent upon
value.
D. Disclose the contingent fee arrangement in the report
certification.
Correct Answer: C
Rationale: USPAP Citation: ETHICS RULE, Management, lines
57-59: "An appraiser must not accept an assignment that
includes a contingent fee arrangement that is based on a
predetermined value conclusion." Application: Contingent fees
create inherent conflict of interest and are prohibited. Distractor
Analysis: (A) is a violation; no amount of personal integrity can
overcome the structural bias. (B) does not change the contingent
P a g e 4 | 56
ASA USPAP Certification Exam Actual
Exam 2026/2027 | Questions with Verified
Answers | 100% Correct | Pass
Guaranteed
SECTION 1: Ethics & Competency Rules
Q1: An appraiser is asked to value a collection of vintage
watches. The appraiser has extensive experience with modern
luxury watches but limited experience with vintage models.
According to USPAP, the appraiser's first obligation is to:
A. Decline the assignment, as they are not competent.
B. Accept the assignment but disclose the lack of specific
experience in the report.
C. Disclose the lack of experience to the client before agreeing
to perform the assignment.
D. Accept the assignment and subcontract the vintage portion to
a specialist.
Correct Answer: C
Rationale: USPAP Citation: The COMPETENCY RULE states
that prior to accepting an assignment, an appraiser must identify
the problem and have the knowledge and experience to complete
it competently, OR disclose any lack of knowledge/experience
P a g e 1 | 56
, 2
to the client before acceptance and take all steps necessary to
complete the assignment competently. Application: The
appraiser must first disclose to the client (C) to allow for an
informed decision. Distractor Analysis: (A) is not required; the
rule allows for disclosure and steps to gain competency. (B)
violates timing; disclosure must occur before acceptance. (D)
may be a step taken after disclosure and client agreement.
Q2: An appraiser completes a personal property appraisal for a
client. Six months later, the client asks the appraiser to release a
copy of the report to the IRS for an audit. The appraiser refuses,
citing confidentiality. According to the ETHICS RULE, Conduct
section, the appraiser:
A. Acted correctly, as all client communications are confidential
indefinitely.
B. Must release the report only if the client provides written
authorization.
C. Is obligated to release the report to the IRS upon client
request.
D. May charge an additional fee for releasing the report to a
third party.
Correct Answer: C
Rationale: USPAP Citation: ETHICS RULE, Conduct, lines 67-
69: "An appraiser must not disclose confidential information or
assignment results prepared for a client to anyone other than the
P a g e 2 | 56
, 3
client and those specifically authorized by the client, except as
required by due process of law." Application: An IRS audit
constitutes due process of law, obligating release. Distractor
Analysis: (A) misinterprets the "due process" exception. (B)
describes standard procedure but doesn't address the legal
requirement. (D) is a business decision, not a USPAP
requirement, and doesn't override the legal obligation.
Q3: An appraiser realizes they made a significant calculation
error in a report delivered yesterday that increased the value
conclusion by 20%. They immediately prepare a corrected
report. According to the RECORD KEEPING RULE and
ETHICS RULE, the appraiser must:
A. Retain both the original and corrected report for a minimum
of five years.
B. Destroy the original erroneous report to avoid confusion.
C. Only retain the corrected report with a note that an error was
corrected.
D. Report the error to the state appraisal board within 24 hours.
Correct Answer: A
Rationale: USPAP Citation: RECORD KEEPING RULE
requires retaining "all information, data, and documentation
necessary to support the appraiser's opinion and conclusions" for
a minimum of five years. ETHICS RULE requires honesty and
not misleading. Retaining both documents provides an accurate
P a g e 3 | 56
, 4
record. Application: Both versions must be kept to document the
work and correction. Distractor Analysis: (B) violates record
keeping requirements and could be construed as concealing
information. (C) is insufficient; the original work product must
be retained. (D) is not a USPAP requirement; state laws vary on
error reporting.
Q4: An appraiser is offered a bonus fee if the appraisal value
meets a specific target number set by the client. According to the
ETHICS RULE, Management section, the appraiser should:
A. Accept the fee structure but ensure their opinion is unbiased.
B. Negotiate the bonus to be paid after the report is delivered.
C. Decline the assignment as the fee structure is contingent upon
value.
D. Disclose the contingent fee arrangement in the report
certification.
Correct Answer: C
Rationale: USPAP Citation: ETHICS RULE, Management, lines
57-59: "An appraiser must not accept an assignment that
includes a contingent fee arrangement that is based on a
predetermined value conclusion." Application: Contingent fees
create inherent conflict of interest and are prohibited. Distractor
Analysis: (A) is a violation; no amount of personal integrity can
overcome the structural bias. (B) does not change the contingent
P a g e 4 | 56
