updated USPAP course for 2024-2025
11
USPAP Advisory Opinions are considered by the ASB to be: - ANSWERS-Other communications,
and not part of USPAP
The new edition of USPAP has been released. Which statement is true regarding the effective
date of this new edition of USPAP? - ANSWERS-The ASB determines when the edition of USPAP
will be effective.
The ending effective date for the 2024 edition of USPAP is: - ANSWERS-To be determined
Is there a difference between a Discussion Draft and an Exposure Draft, and if so, what is the
difference? - ANSWERS-An exposure draft is a formal proposal to revise USPAP, while a
discussion draft merely solicits feedback from industry participants.
You send the ASB a letter with a comment regarding a proposed change to USPAP. Who will read
it? - ANSWERS-all members of the ASB
The ASB has issued an exposure draft of proposed changes to USPAP. What must occur before
these proposed changes may be made to USPAP? - ANSWERS-The proposed changes must be
discussed and adopted at a public meeting
A stakeholder in the appraisal profession wants to participate in the USPAP revision process but
does not have the time to travel to attend ASB meetings in person. What is this individual's best
option? - ANSWERS-Register for ASB meetings and livestream them on their computer.
, The PREAMBLE states that USPAP is promulgated for: - ANSWERS-Appraisers and users of
appraisal services
The primary purpose of USPAP is: - ANSWERS-Promoting and preserving public trust in appraisal
practice.
_______ change is one of the reasons why the ASB added the Nondiscrimination section to the
ETHICS RULE. - ANSWERS-Social
With regard to prohibitions on bias and discrimination, the revisions to the current edition of
USPAP were made in order to: - ANSWERS-Make existing prohibitions clearer and more direct
Which statement regarding bias and USPAP is TRUE? - ANSWERS-USPAP has always prohibited
appraisers from performing an assignment with bias.
Which term is defined in federal regulations as "a residential structure that contains one to four
living units whether or not that structure is attached to real property"? - ANSWERS-Dwelling
Which of the following is NOT a federal antidiscrimination law that is specifically referenced in
the Nondiscrimination section of the ETHICS RULE? - ANSWERS-Dodd-Frank Act
An appraiser is required to be knowledgeable of, and comply with, ____________
antidiscrimination laws and regulations - ANSWERS-Federal, state, and local
An appraiser agrees to perform an appraisal assignment on a residential property for mortgage
lending. The assignment comes to the appraiser through an appraisal management company
(AMC). Who is responsible for determining what antidiscrimination laws apply to the
assignment? - ANSWERS-The appraiser
11
USPAP Advisory Opinions are considered by the ASB to be: - ANSWERS-Other communications,
and not part of USPAP
The new edition of USPAP has been released. Which statement is true regarding the effective
date of this new edition of USPAP? - ANSWERS-The ASB determines when the edition of USPAP
will be effective.
The ending effective date for the 2024 edition of USPAP is: - ANSWERS-To be determined
Is there a difference between a Discussion Draft and an Exposure Draft, and if so, what is the
difference? - ANSWERS-An exposure draft is a formal proposal to revise USPAP, while a
discussion draft merely solicits feedback from industry participants.
You send the ASB a letter with a comment regarding a proposed change to USPAP. Who will read
it? - ANSWERS-all members of the ASB
The ASB has issued an exposure draft of proposed changes to USPAP. What must occur before
these proposed changes may be made to USPAP? - ANSWERS-The proposed changes must be
discussed and adopted at a public meeting
A stakeholder in the appraisal profession wants to participate in the USPAP revision process but
does not have the time to travel to attend ASB meetings in person. What is this individual's best
option? - ANSWERS-Register for ASB meetings and livestream them on their computer.
, The PREAMBLE states that USPAP is promulgated for: - ANSWERS-Appraisers and users of
appraisal services
The primary purpose of USPAP is: - ANSWERS-Promoting and preserving public trust in appraisal
practice.
_______ change is one of the reasons why the ASB added the Nondiscrimination section to the
ETHICS RULE. - ANSWERS-Social
With regard to prohibitions on bias and discrimination, the revisions to the current edition of
USPAP were made in order to: - ANSWERS-Make existing prohibitions clearer and more direct
Which statement regarding bias and USPAP is TRUE? - ANSWERS-USPAP has always prohibited
appraisers from performing an assignment with bias.
Which term is defined in federal regulations as "a residential structure that contains one to four
living units whether or not that structure is attached to real property"? - ANSWERS-Dwelling
Which of the following is NOT a federal antidiscrimination law that is specifically referenced in
the Nondiscrimination section of the ETHICS RULE? - ANSWERS-Dodd-Frank Act
An appraiser is required to be knowledgeable of, and comply with, ____________
antidiscrimination laws and regulations - ANSWERS-Federal, state, and local
An appraiser agrees to perform an appraisal assignment on a residential property for mortgage
lending. The assignment comes to the appraiser through an appraisal management company
(AMC). Who is responsible for determining what antidiscrimination laws apply to the
assignment? - ANSWERS-The appraiser
