USPAP Final Exam
Questions and
Answers Updated 2026
The Appraisal Foundation has the authority to enforce the requirements of USPAP. - Answer
False; The Appraisal Foundation is a private entity. The Foundation and its boards have no
enforcement authority in any jurisdiction.
Which Foundation board is responsible for USPAP? - Answer Appraisal Standards Board
(ASB)
Currently, the boards within The Appraisal Foundation include: - Answer Appraisal Standards
Board, Appraiser Qualifications Board, Board of Trustees
Which entity is responsible for establishing education and experience requirements for
licensing and certification of appraisers? - Answer Appraiser Qualifications Board (AQB)
Which entity appoints members of the AQB and ASB? - Answer Board of Trustees (BOT)
Qualification criteria for appraiser certification and recertification are disseminated to state
appraisal boards by the: - Answer Appraiser Qualifications Board (AQB)
Advisory Opinions are best described as - Answer not part of USPAP, but included as
reference material
USPAP is written, amended, and interpreted by the: - Answer Appraisal Standards Board
(ASB)
USPAP is enforced by: - Answer State appraiser licensing/certification agencies
,Which is NOT a responsibility of the Appraisal Subcommittee (ASC)? - Answer Writing,
interpreting, and amending USPAP
WRONG Answers: Monitoring the practices, procedures, and activities of The Appraisal
Foundation, Maintaining a National Registry of licensed and certified appraisers, Overseeing
each state's appraiser licensing and certification program are handled by the ASC
Which entity maintains the official National Registry of state-certified and licensed
appraisers? - Answer Appraisal Subcommittee (ASC)
Who is responsible for issuing credentials to individual appraisers? - Answer State appraisal
regulatory agencies
Why are USPAP Advisory Opinions issued? - Answer To offer advice
Which of these is considered an integral part of USPAP and has the same weight as the
components they address? - Answer Comments
Which part of USPAP establishes the requirements for workfile content for an appraisal or
appraisal review assignment? - Answer RECORD KEEPING RULE
In USPAP, the appraisal process is divided into two distinct types of activity: _________ and
__________. - Answer Development, reporting
The first step in the appraisal process is: - Answer Identify the problem
Which step in the appraisal process involves communication of the appraiser's opinions and
conclusions? - Answer Reporting
To which property types does USPAP apply? - Answer Both tangible and intangible property
, What is the stated purpose of USPAP? - Answer Promote and maintain a high level of public
trust in appraisal practice
The PREAMBLE states that USPAP intended to benefit: - Answer Appraisers and users of
appraisal services
When obligated by law or regulation, an appraiser _______ comply with USPAP. - Answer
Must
The requirement for USPAP compliance in an appraisal assignment could be the result of: -
Answer Any of these Answers
An appraiser has the professional responsibility to identify the capacity in which he or she is
performing. - Answer True
When performing valuation services outside of appraisal practice, an individual must be
careful not to __________ the client and other intended users about his or her role. -
Answer Mislead
A valuation service that is premised upon advocacy: - Answer It cannot be performed by an
individual acting as an appraiser
USPAP states that in a situation when an individual is not required by law, regulation, or
agreement to comply with USPAP: - Answer The individual should still comply when he or
she is acting as an appraiser
A preference or inclination that precludes an appraiser's impartiality, independence, or
objectivity is: - Answer Bias
An appraiser is permitted to be biased when performing an appraisal, as long as the bias is
properly disclosed. - Answer False
Questions and
Answers Updated 2026
The Appraisal Foundation has the authority to enforce the requirements of USPAP. - Answer
False; The Appraisal Foundation is a private entity. The Foundation and its boards have no
enforcement authority in any jurisdiction.
Which Foundation board is responsible for USPAP? - Answer Appraisal Standards Board
(ASB)
Currently, the boards within The Appraisal Foundation include: - Answer Appraisal Standards
Board, Appraiser Qualifications Board, Board of Trustees
Which entity is responsible for establishing education and experience requirements for
licensing and certification of appraisers? - Answer Appraiser Qualifications Board (AQB)
Which entity appoints members of the AQB and ASB? - Answer Board of Trustees (BOT)
Qualification criteria for appraiser certification and recertification are disseminated to state
appraisal boards by the: - Answer Appraiser Qualifications Board (AQB)
Advisory Opinions are best described as - Answer not part of USPAP, but included as
reference material
USPAP is written, amended, and interpreted by the: - Answer Appraisal Standards Board
(ASB)
USPAP is enforced by: - Answer State appraiser licensing/certification agencies
,Which is NOT a responsibility of the Appraisal Subcommittee (ASC)? - Answer Writing,
interpreting, and amending USPAP
WRONG Answers: Monitoring the practices, procedures, and activities of The Appraisal
Foundation, Maintaining a National Registry of licensed and certified appraisers, Overseeing
each state's appraiser licensing and certification program are handled by the ASC
Which entity maintains the official National Registry of state-certified and licensed
appraisers? - Answer Appraisal Subcommittee (ASC)
Who is responsible for issuing credentials to individual appraisers? - Answer State appraisal
regulatory agencies
Why are USPAP Advisory Opinions issued? - Answer To offer advice
Which of these is considered an integral part of USPAP and has the same weight as the
components they address? - Answer Comments
Which part of USPAP establishes the requirements for workfile content for an appraisal or
appraisal review assignment? - Answer RECORD KEEPING RULE
In USPAP, the appraisal process is divided into two distinct types of activity: _________ and
__________. - Answer Development, reporting
The first step in the appraisal process is: - Answer Identify the problem
Which step in the appraisal process involves communication of the appraiser's opinions and
conclusions? - Answer Reporting
To which property types does USPAP apply? - Answer Both tangible and intangible property
, What is the stated purpose of USPAP? - Answer Promote and maintain a high level of public
trust in appraisal practice
The PREAMBLE states that USPAP intended to benefit: - Answer Appraisers and users of
appraisal services
When obligated by law or regulation, an appraiser _______ comply with USPAP. - Answer
Must
The requirement for USPAP compliance in an appraisal assignment could be the result of: -
Answer Any of these Answers
An appraiser has the professional responsibility to identify the capacity in which he or she is
performing. - Answer True
When performing valuation services outside of appraisal practice, an individual must be
careful not to __________ the client and other intended users about his or her role. -
Answer Mislead
A valuation service that is premised upon advocacy: - Answer It cannot be performed by an
individual acting as an appraiser
USPAP states that in a situation when an individual is not required by law, regulation, or
agreement to comply with USPAP: - Answer The individual should still comply when he or
she is acting as an appraiser
A preference or inclination that precludes an appraiser's impartiality, independence, or
objectivity is: - Answer Bias
An appraiser is permitted to be biased when performing an appraisal, as long as the bias is
properly disclosed. - Answer False
