USPAP 2024 Exam Questions and
Answers11
USPAP states that in when an individual is not required by law, regulation, or agreement to
comply with USPAP. - ANSWERS-the individual SHOULD still comply when he or she is acting as
an appraiser.
Currently, the boards within the Appraisal Foundation include.. - ANSWERS-Appraiser Standards
Board, Appraiser Qualifications Board, Board of Trustees.
To which property type does USPAP apply? - ANSWERS-Both tangible and intangible property
what is the stated purpose of USPAP? - ANSWERS-promote and maintain a high level of public
trust in appraisal practice
the preamble states that USPAP intended to benefit: - ANSWERS-appraisers and users of
appraisal services
When obligated by law or regulation, an appraiser _______ comply with USPAP. - ANSWERS-
MUST
an appraiser has the professional responsibility to identify the capacity in which he or she is
performing.
T or F - ANSWERS-True
The appraisal foundation has the authority to enforce the requirements of USPAP.
T or F - ANSWERS-False
, Which foundation board is responsible for USPAP? - ANSWERS-Appraisal Standards Board
Which entity is responsible for establishing education and experience requirements for licensing
and certification of appraisers? - ANSWERS-Appraiser Qualifications Board
Qualification criteria for appraiser certification and recertification are disseminated to state
appraisal boards by the - ANSWERS-appraiser qualification board
which entity appoints members of the AQB and ASB? - ANSWERS-Board of Trustees (BOT)
USPAP is written, amended and interpreted by the - ANSWERS-Appraisal Standards Board
Advisory opinions are best described as - ANSWERS-not part of USPAP, but included as reference
material
USPAP is enforced by - ANSWERS-State appraiser licensing/certification agencies
Which is not a responsibility of the Appraisal Subcommittee? - ANSWERS-writing and
interpreting and amending USPAP.
Which entity maintains the official National Registry of state-certified and licensed appraisers? -
ANSWERS-Appraisal Subcommittee
Who is responsible for issuing credentials to individual appraisers? - ANSWERS-State appraisal
regulatory agencies
Why are USPAP Advisory Opinions issued? - ANSWERS-to offer advice
Answers11
USPAP states that in when an individual is not required by law, regulation, or agreement to
comply with USPAP. - ANSWERS-the individual SHOULD still comply when he or she is acting as
an appraiser.
Currently, the boards within the Appraisal Foundation include.. - ANSWERS-Appraiser Standards
Board, Appraiser Qualifications Board, Board of Trustees.
To which property type does USPAP apply? - ANSWERS-Both tangible and intangible property
what is the stated purpose of USPAP? - ANSWERS-promote and maintain a high level of public
trust in appraisal practice
the preamble states that USPAP intended to benefit: - ANSWERS-appraisers and users of
appraisal services
When obligated by law or regulation, an appraiser _______ comply with USPAP. - ANSWERS-
MUST
an appraiser has the professional responsibility to identify the capacity in which he or she is
performing.
T or F - ANSWERS-True
The appraisal foundation has the authority to enforce the requirements of USPAP.
T or F - ANSWERS-False
, Which foundation board is responsible for USPAP? - ANSWERS-Appraisal Standards Board
Which entity is responsible for establishing education and experience requirements for licensing
and certification of appraisers? - ANSWERS-Appraiser Qualifications Board
Qualification criteria for appraiser certification and recertification are disseminated to state
appraisal boards by the - ANSWERS-appraiser qualification board
which entity appoints members of the AQB and ASB? - ANSWERS-Board of Trustees (BOT)
USPAP is written, amended and interpreted by the - ANSWERS-Appraisal Standards Board
Advisory opinions are best described as - ANSWERS-not part of USPAP, but included as reference
material
USPAP is enforced by - ANSWERS-State appraiser licensing/certification agencies
Which is not a responsibility of the Appraisal Subcommittee? - ANSWERS-writing and
interpreting and amending USPAP.
Which entity maintains the official National Registry of state-certified and licensed appraisers? -
ANSWERS-Appraisal Subcommittee
Who is responsible for issuing credentials to individual appraisers? - ANSWERS-State appraisal
regulatory agencies
Why are USPAP Advisory Opinions issued? - ANSWERS-to offer advice
