NATIONAL USPAP COURSE EXAM
QUESTIONS WITH CORRECT ANSWERS NEW
MODIFIED
USPAP is written, amended, and interpreted by the: --CORRECT
ANSWER--Appraisal Standards Board
Advisory Opinions are best described as: --CORRECT ANSWER--
not part of USPAP, but included as reference material
Who is responsible for issuing credentials to individual appraisers? --
CORRECT ANSWER--State appraisal regulatory agencies
Which entity maintains the official National Registry of state-certified
and licensed appraisers? --CORRECT ANSWER--Appraisal
Subcommittee (ASC)
Which is NOT a responsibility of the Appraisal Subcommittee
(ASC)? --CORRECT ANSWER--writing, interpreting and amending
USPAP
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,USPAP is enforced by: --CORRECT ANSWER--state appraiser
licensing/certification agencies
Which part of USPAP establishes the requirements for workfile
content for an appraisal or appraisal review assignment? --CORRECT
ANSWER--Record Keeping Rule
The Appraisal Foundation has the authority to enforce the
requirements of USPAP. --CORRECT ANSWER--False
Currently, the boards within the Appraisal Foundation include: --
CORRECT ANSWER--Appraisal Standards Board, Appraisal
Qualifications Board, Board of Trustees
Which Foundation board is responsible for USPAP? --CORRECT
ANSWER--Appraisal Standards Board
Qualification criteria for appraiser certification and recertification are
disseminated to state appraisal boards by the: --CORRECT
ANSWER--Appraisal Qualifications Board
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,Which entity is responsible for establishing education and experience
requirements for licensing and certification of appraisers? --
CORRECT ANSWER--Appraisal Qualifications Board
Which entity appoints members of the AQB and ASB? --CORRECT
ANSWER--Board of Trustees
Why are USPAP Advisory Opinions issued? --CORRECT ANSWER-
-to offer advice
Which of these is considered an integral part of USPAP and has the
same weight as the components they address? --CORRECT
ANSWER--comments
The first step in the appraisal process is: --CORRECT ANSWER--
identify the problem
In USPAP, the appraisal process is divided into two distinct types of
activity: _________ and __________. --CORRECT ANSWER--
development, reporting
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, Which step in the appraisal process involves communication of the
appraiser's opinions and conclusions? --CORRECT ANSWER--
reporting
The PREAMBLE states that USPAP intended to benefit: --
CORRECT ANSWER--appraisers and users of appraisal services
When obligated by law or regulation, an appraiser _______ comply
with USPAP. --CORRECT ANSWER--must
What is the stated purpose of USPAP? --CORRECT ANSWER--
Promote and maintain a high level of public trust in appraisal practice
To which property types does USPAP apply? --CORRECT
ANSWER--Both tangible and intangible property
An appraiser has the professional responsibility to identify the
capacity in which he or she is performing. --CORRECT ANSWER--
true
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QUESTIONS WITH CORRECT ANSWERS NEW
MODIFIED
USPAP is written, amended, and interpreted by the: --CORRECT
ANSWER--Appraisal Standards Board
Advisory Opinions are best described as: --CORRECT ANSWER--
not part of USPAP, but included as reference material
Who is responsible for issuing credentials to individual appraisers? --
CORRECT ANSWER--State appraisal regulatory agencies
Which entity maintains the official National Registry of state-certified
and licensed appraisers? --CORRECT ANSWER--Appraisal
Subcommittee (ASC)
Which is NOT a responsibility of the Appraisal Subcommittee
(ASC)? --CORRECT ANSWER--writing, interpreting and amending
USPAP
Page 1 of 35
,USPAP is enforced by: --CORRECT ANSWER--state appraiser
licensing/certification agencies
Which part of USPAP establishes the requirements for workfile
content for an appraisal or appraisal review assignment? --CORRECT
ANSWER--Record Keeping Rule
The Appraisal Foundation has the authority to enforce the
requirements of USPAP. --CORRECT ANSWER--False
Currently, the boards within the Appraisal Foundation include: --
CORRECT ANSWER--Appraisal Standards Board, Appraisal
Qualifications Board, Board of Trustees
Which Foundation board is responsible for USPAP? --CORRECT
ANSWER--Appraisal Standards Board
Qualification criteria for appraiser certification and recertification are
disseminated to state appraisal boards by the: --CORRECT
ANSWER--Appraisal Qualifications Board
Page 2 of 35
,Which entity is responsible for establishing education and experience
requirements for licensing and certification of appraisers? --
CORRECT ANSWER--Appraisal Qualifications Board
Which entity appoints members of the AQB and ASB? --CORRECT
ANSWER--Board of Trustees
Why are USPAP Advisory Opinions issued? --CORRECT ANSWER-
-to offer advice
Which of these is considered an integral part of USPAP and has the
same weight as the components they address? --CORRECT
ANSWER--comments
The first step in the appraisal process is: --CORRECT ANSWER--
identify the problem
In USPAP, the appraisal process is divided into two distinct types of
activity: _________ and __________. --CORRECT ANSWER--
development, reporting
Page 3 of 35
, Which step in the appraisal process involves communication of the
appraiser's opinions and conclusions? --CORRECT ANSWER--
reporting
The PREAMBLE states that USPAP intended to benefit: --
CORRECT ANSWER--appraisers and users of appraisal services
When obligated by law or regulation, an appraiser _______ comply
with USPAP. --CORRECT ANSWER--must
What is the stated purpose of USPAP? --CORRECT ANSWER--
Promote and maintain a high level of public trust in appraisal practice
To which property types does USPAP apply? --CORRECT
ANSWER--Both tangible and intangible property
An appraiser has the professional responsibility to identify the
capacity in which he or she is performing. --CORRECT ANSWER--
true
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