age 1 of 39
USPAP 15-Hour Course FINAL EXAM COMPLETE
QUESTIONS AND CORRECT DETAILED ANSWERS ||
100% GUARANTEED PASS <LATEST VERSION>
The Preamble states that USPAP is .......Answer.........for
appraisers and users of appraisal services.
The stated purpose of USPAP .......Answer.........Promote and
maintain a high level of public trust in appraisal practice.
An appraiser has the professional responsibility
.......Answer.........to identify the capacity in which he or she is
performing.
Reasons why an appraiser would prepare an appraisal
assignment in conformance with USPAP .......Answer.........1.
Agreement with client.
,age 2 of 39
2. Law or regulation.
3. Voluntary choice.
When obligated by law or regulation an appraiser must
.......Answer.........comply with USPAP.
USPAP applies to which types of properties?
.......Answer.........Tangible and Intangible
Valuation services .......Answer.........is not a subset of appraisal
practice.
An appraiser who provides an appraisal service that is not an
appraisal, appraisal review, or appraisal consulting assignment
does not have workfile obligations associated with the
assignment. .......Answer.........True
,age 3 of 39
An individual is not prohibited from providing valuation services
that involve advocacy while acting as an appraiser.
.......Answer.........False
When performing valuation services outside of appraisal
practice, appraisers must be careful not to _________________
the client and other intended users about their role.
.......Answer.........Mislead
USPAP states that in a situation when an individual is not
required by law, regulation, or agreement to comply with
USPAP: .......Answer.........The individual should still comply when
acting as an appraiser.
An appraiser is engaged to teach an appraisal course. What
parts of USPAP apply? .......Answer.........The parts of USPAP that
apply generally to appraisal practice.
, age 4 of 39
The Appraisal Practices Board (APB) was created when?
.......Answer.........2010
The APB is a(n) .......Answer.........independent board.
Boards within The Appraisal Foundation (TAF) .......Answer.........1.
Board of Trustees (BOT)
2. Appraisal Standards Board (ASB)
3. Appraisal Qualifications Board (AQB)
4. Appraisal Practices Board (APB)
APB is a .......Answer.........private entity.
The APB has authority to enforce the requirements of USPAP.
.......Answer.........False
USPAP 15-Hour Course FINAL EXAM COMPLETE
QUESTIONS AND CORRECT DETAILED ANSWERS ||
100% GUARANTEED PASS <LATEST VERSION>
The Preamble states that USPAP is .......Answer.........for
appraisers and users of appraisal services.
The stated purpose of USPAP .......Answer.........Promote and
maintain a high level of public trust in appraisal practice.
An appraiser has the professional responsibility
.......Answer.........to identify the capacity in which he or she is
performing.
Reasons why an appraiser would prepare an appraisal
assignment in conformance with USPAP .......Answer.........1.
Agreement with client.
,age 2 of 39
2. Law or regulation.
3. Voluntary choice.
When obligated by law or regulation an appraiser must
.......Answer.........comply with USPAP.
USPAP applies to which types of properties?
.......Answer.........Tangible and Intangible
Valuation services .......Answer.........is not a subset of appraisal
practice.
An appraiser who provides an appraisal service that is not an
appraisal, appraisal review, or appraisal consulting assignment
does not have workfile obligations associated with the
assignment. .......Answer.........True
,age 3 of 39
An individual is not prohibited from providing valuation services
that involve advocacy while acting as an appraiser.
.......Answer.........False
When performing valuation services outside of appraisal
practice, appraisers must be careful not to _________________
the client and other intended users about their role.
.......Answer.........Mislead
USPAP states that in a situation when an individual is not
required by law, regulation, or agreement to comply with
USPAP: .......Answer.........The individual should still comply when
acting as an appraiser.
An appraiser is engaged to teach an appraisal course. What
parts of USPAP apply? .......Answer.........The parts of USPAP that
apply generally to appraisal practice.
, age 4 of 39
The Appraisal Practices Board (APB) was created when?
.......Answer.........2010
The APB is a(n) .......Answer.........independent board.
Boards within The Appraisal Foundation (TAF) .......Answer.........1.
Board of Trustees (BOT)
2. Appraisal Standards Board (ASB)
3. Appraisal Qualifications Board (AQB)
4. Appraisal Practices Board (APB)
APB is a .......Answer.........private entity.
The APB has authority to enforce the requirements of USPAP.
.......Answer.........False
