USPAP EXAM QUESTIONS WITH
CORRECT ANSWERS (LATEST
2025-2026 UPDATES)
What is the definition of Appraisal? - Answer-The act or process of developing an
opinion of value; an opinion of value
What is the definition of Bias? - Answer-A preference or inclination that precludes an
appraiser's impartiality, independence, or objectivity in an assignment.
What is the definition of Extraordinary Assumption? - Answer-An assignment-specific
assumptions as of the effective date regarding uncertain information used in an analysis
which, if found to be false, could alter the appraiser's opinions or conclusions.
Appraisers should perform assignments with ____, ____, and _____ - Answer-
Impartiality
objectivity
independence
When the appraiser determines they lack competency, they must? - Answer-Disclose
the lack of knowledge to the client before accepting the assignment.
When certain laws or regulations preclude the appraiser ability to comply with parts of
USPAP, this is known as what? - Answer-The jurisdictional Exception Rule, must cite
which law or regulation requires the exception.
In what manner, and under which rule is USPAP is advocacy permitted in an appraisal
assignment? - Answer-Advocacy is never permitted in any appraisal assignment.
What is the USPAP definition of scope of work? - Answer-The type and extent of
research and analysis applied in an assignment.
In determining the appropriate scope of work for an assignment, appraisers have _____
and _______ - Answer-broad flexibility
significant responsibility
If an appraiser chooses to exclude an appraisal method/technique, that would otherwise
seem necessary to the client, what must the appraiser do? - Answer-The appraiser
must have sound reasoning behind the decision and must disclose the decision in the
scope of work.
, Under what circumstances is the scope of work deemed acceptable? - Answer-When it
meets or exceeds:
The expectations of parties who are regularly intended users of similar assignments;
and what an appraisers peers' actions would be in performing the same or similar
assignment
Problem identification is the first step in developing a proper scope of work. What are
three elements an appraisal needs to correctly identify in order to correctly understand
problem identification? - Answer-Client and any other intended users;
Intended use of the appraiser's opinion or conclusions;
Type and definition of value;
Effective date of the appraiser's opinion or conclusions;
Subject of the assignment and its relevant characteristics; and any assignment
conditions
Once a scope of work is finalized by the appraiser, can the scope of work be altered? If
yes, why? - Answer-Yes, If new or additional information is discovered during an
assignment, the appraiser may reconsider the scope of work.
According to the record keeping rule, does an appraiser have to keep a work file for
written reports, oral reports or both? - Answer-All reports.
Are signed certifications required for written reports, oral reports or both? - Answer-All
reports.
Demonstrating correct judgment and correct execution is called? - Answer-Competency.
Are Standards 5, Mass Appraisal Development and Reporting used only by ad valorem
appraisers? - Answer-No, fee appraisers use these standards also.
Are mass appraisers required to use all three approaches to value in a mass appraisal?
- Answer-No, mass appraisers are required to considers all three approaches but
should use the most appropriate approaches depending upon the type of property and
data available.
Explain the structure of the Appraisal Foundation (TAF) - Answer-The Board of Trustees
(BOT) oversees the Appraisal Standards Board (ASB) and the Appraiser Qualifications
Board (AQB)
What year did the Texas Legislature require appraisers licensed through TDLR to
comply with USPAP? - Answer-1997.
Nondiscrimination, Conduct, Management and Confidentiality are sections of what
USPAP Rule? - Answer-Ethics Rule
CORRECT ANSWERS (LATEST
2025-2026 UPDATES)
What is the definition of Appraisal? - Answer-The act or process of developing an
opinion of value; an opinion of value
What is the definition of Bias? - Answer-A preference or inclination that precludes an
appraiser's impartiality, independence, or objectivity in an assignment.
What is the definition of Extraordinary Assumption? - Answer-An assignment-specific
assumptions as of the effective date regarding uncertain information used in an analysis
which, if found to be false, could alter the appraiser's opinions or conclusions.
Appraisers should perform assignments with ____, ____, and _____ - Answer-
Impartiality
objectivity
independence
When the appraiser determines they lack competency, they must? - Answer-Disclose
the lack of knowledge to the client before accepting the assignment.
When certain laws or regulations preclude the appraiser ability to comply with parts of
USPAP, this is known as what? - Answer-The jurisdictional Exception Rule, must cite
which law or regulation requires the exception.
In what manner, and under which rule is USPAP is advocacy permitted in an appraisal
assignment? - Answer-Advocacy is never permitted in any appraisal assignment.
What is the USPAP definition of scope of work? - Answer-The type and extent of
research and analysis applied in an assignment.
In determining the appropriate scope of work for an assignment, appraisers have _____
and _______ - Answer-broad flexibility
significant responsibility
If an appraiser chooses to exclude an appraisal method/technique, that would otherwise
seem necessary to the client, what must the appraiser do? - Answer-The appraiser
must have sound reasoning behind the decision and must disclose the decision in the
scope of work.
, Under what circumstances is the scope of work deemed acceptable? - Answer-When it
meets or exceeds:
The expectations of parties who are regularly intended users of similar assignments;
and what an appraisers peers' actions would be in performing the same or similar
assignment
Problem identification is the first step in developing a proper scope of work. What are
three elements an appraisal needs to correctly identify in order to correctly understand
problem identification? - Answer-Client and any other intended users;
Intended use of the appraiser's opinion or conclusions;
Type and definition of value;
Effective date of the appraiser's opinion or conclusions;
Subject of the assignment and its relevant characteristics; and any assignment
conditions
Once a scope of work is finalized by the appraiser, can the scope of work be altered? If
yes, why? - Answer-Yes, If new or additional information is discovered during an
assignment, the appraiser may reconsider the scope of work.
According to the record keeping rule, does an appraiser have to keep a work file for
written reports, oral reports or both? - Answer-All reports.
Are signed certifications required for written reports, oral reports or both? - Answer-All
reports.
Demonstrating correct judgment and correct execution is called? - Answer-Competency.
Are Standards 5, Mass Appraisal Development and Reporting used only by ad valorem
appraisers? - Answer-No, fee appraisers use these standards also.
Are mass appraisers required to use all three approaches to value in a mass appraisal?
- Answer-No, mass appraisers are required to considers all three approaches but
should use the most appropriate approaches depending upon the type of property and
data available.
Explain the structure of the Appraisal Foundation (TAF) - Answer-The Board of Trustees
(BOT) oversees the Appraisal Standards Board (ASB) and the Appraiser Qualifications
Board (AQB)
What year did the Texas Legislature require appraisers licensed through TDLR to
comply with USPAP? - Answer-1997.
Nondiscrimination, Conduct, Management and Confidentiality are sections of what
USPAP Rule? - Answer-Ethics Rule
