USPAP McKissock Exam Questions
and Answers
Currently, the boards within The Appraisal Foundation include: - ANSWERS-Appraisal Standards
Board, Appraiser Qualifications Board, Board of Trustees
Which Foundation board is responsible for USPAP? - ANSWERS-Appraisal Standards Board (ASB)
Which entity appoints members of the AQB and ASB? - ANSWERS-Board of Trustees (BOT)
Qualification criteria for appraiser certification and recertification are disseminated to state
appraisal board by the? - ANSWERS-Appraiser Qualifications Board
Which entity is responsible for establishing education and experience requirements for licensing
and certification of appraisers? - ANSWERS-Appraiser Qualifications Board (AQB)
USPAP is written, amended, and interpreted by the: - ANSWERS-Appraisal Standards Board
(ASB)
Advisory Opinions are best described as - ANSWERS-not part of USPAP, but included as
reference material
Which entity maintains the official National Registry of state-certified and licensed appraisers? -
ANSWERS-Appraisal Subcommittee (ASC)
USPAP is enforced by: - ANSWERS-State appraiser licensing/certification agencies
, Who is responsible for issuing credentials to individual appraisers - ANSWERS-State appraisal
regulatory agencies
Which is not a responsibility of the Appraisal Subcommittee - ANSWERS-Writing, interpreting,
and amending USPAP
Which part of USPAP establishes the requirements for workfile content for an appraisal or
appraisal review assignment? - ANSWERS-RECORD KEEPING RULE
Why are USPAP Advisory Opinions issued? - ANSWERS-offer advice
Which of these is considered an integral part of USPAP and has the same weight as the
components they address? - ANSWERS-comments
In USPAP the appraisal process is divided into two distinct types of activity______ and ______? -
ANSWERS-Development and Reporting
The first step in the appraisal process is ? - ANSWERS-Identify the problem
Which step in the appraisal process involves communication of the appraiser's opinions and
conclusions? - ANSWERS-reporting
What is the stated purpose of USPAP - ANSWERS-Promote and maintain a high level of public
trust in appraisal practice
To which property types does USPAP apply - ANSWERS-Both tangible and intangible property
The preamble states that USPAP intended to benefit - ANSWERS-Appraisers and users of
appraisal services
and Answers
Currently, the boards within The Appraisal Foundation include: - ANSWERS-Appraisal Standards
Board, Appraiser Qualifications Board, Board of Trustees
Which Foundation board is responsible for USPAP? - ANSWERS-Appraisal Standards Board (ASB)
Which entity appoints members of the AQB and ASB? - ANSWERS-Board of Trustees (BOT)
Qualification criteria for appraiser certification and recertification are disseminated to state
appraisal board by the? - ANSWERS-Appraiser Qualifications Board
Which entity is responsible for establishing education and experience requirements for licensing
and certification of appraisers? - ANSWERS-Appraiser Qualifications Board (AQB)
USPAP is written, amended, and interpreted by the: - ANSWERS-Appraisal Standards Board
(ASB)
Advisory Opinions are best described as - ANSWERS-not part of USPAP, but included as
reference material
Which entity maintains the official National Registry of state-certified and licensed appraisers? -
ANSWERS-Appraisal Subcommittee (ASC)
USPAP is enforced by: - ANSWERS-State appraiser licensing/certification agencies
, Who is responsible for issuing credentials to individual appraisers - ANSWERS-State appraisal
regulatory agencies
Which is not a responsibility of the Appraisal Subcommittee - ANSWERS-Writing, interpreting,
and amending USPAP
Which part of USPAP establishes the requirements for workfile content for an appraisal or
appraisal review assignment? - ANSWERS-RECORD KEEPING RULE
Why are USPAP Advisory Opinions issued? - ANSWERS-offer advice
Which of these is considered an integral part of USPAP and has the same weight as the
components they address? - ANSWERS-comments
In USPAP the appraisal process is divided into two distinct types of activity______ and ______? -
ANSWERS-Development and Reporting
The first step in the appraisal process is ? - ANSWERS-Identify the problem
Which step in the appraisal process involves communication of the appraiser's opinions and
conclusions? - ANSWERS-reporting
What is the stated purpose of USPAP - ANSWERS-Promote and maintain a high level of public
trust in appraisal practice
To which property types does USPAP apply - ANSWERS-Both tangible and intangible property
The preamble states that USPAP intended to benefit - ANSWERS-Appraisers and users of
appraisal services
