USPAP 15 HOUR COURSE STUDY GUIDE
2026 VERIFIED QUESTIONS AND ANSWERS
OUTLINE PACK
◉ · An appraiser concludes that a subject property has functional
inadequacies. This conclusion is:
Answer: An assignment result and must be treated as confidential
◉ · The Confidentiality section of the ETHICS RULE prohibits an
appraiser from disclosing confidential information or _________ to
unauthorized parties.
Answer: Assignment results
◉ · In most cases, an appraiser may share __________ from an
appraisal assignment with other appraisers without obtaining the
client's consent.
Answer: Physical characteristics
◉ · An appraiser prepared an appraisal report in April 2019. He
testified in court regarding the value of the property in January
2020. The decision was rendered in February 2020 and was
appealed in April 2020. The appellate court heard the case in
January 2021 and remanded the case for reconsideration by the
,lower court. Final disposition of the case occurred in September
2021. At a minimum, how long must the appraiser retain his
workfile?
Answer: April 2024
◉ · Is an appraiser permitted by USPAP to create a workfile after
transmitting the report to the client?
Answer: No
◉ · An appraiser completes an appraisal and transmits the report to
the client. The report copy retained in the appraiser's workfile does
not have a signature affixed to it. Is this permissible under USPAP?
Answer: No, a true copy must include a signature
◉ · Which statement best describes the word "competency" as it
relates to appraisal practice?
Answer: It is fundamental to the definition of "appraiser."
◉ · Which of these is NOT one of the steps required by USPAP when
an appraiser wishes to perform an assignment for which he or she
initially lacks the knowledge and experience?
Answer: Use a hypothetical condition to complete the assignment as
though the appraiser already had the knowledge and experience
, ◉ · In order to perform an assignment for which an appraiser
initially lacks the knowledge and experience to complete
competently, the appraiser must:
Answer: Disclose to the client, prior to agreeing to perform the
assignment, the lack of knowledge or experience
◉ · Three appraisers work together on an appraisal assignment.
What would NOT be an appropriate workfile arrangement under
USPAP?
Answer: The workfile is posted on the Internet, so that anyone who
wants to see it will be able to access it.
◉ · The requirement to create and maintain a workfile for an
appraisal or appraisal review assignment applies to:
Answer: All appraisers, regardless of credential level
Only trainees or assistants
◉ · In order to determine the appropriate scope of work, the
appraiser must ________ the problem to be solved.
Answer: Identify
◉ · Appraisers have broad _________ and significant _________ in
determining the appropriate scope of work in an assignment.
Answer: Flexibility, responsibility
2026 VERIFIED QUESTIONS AND ANSWERS
OUTLINE PACK
◉ · An appraiser concludes that a subject property has functional
inadequacies. This conclusion is:
Answer: An assignment result and must be treated as confidential
◉ · The Confidentiality section of the ETHICS RULE prohibits an
appraiser from disclosing confidential information or _________ to
unauthorized parties.
Answer: Assignment results
◉ · In most cases, an appraiser may share __________ from an
appraisal assignment with other appraisers without obtaining the
client's consent.
Answer: Physical characteristics
◉ · An appraiser prepared an appraisal report in April 2019. He
testified in court regarding the value of the property in January
2020. The decision was rendered in February 2020 and was
appealed in April 2020. The appellate court heard the case in
January 2021 and remanded the case for reconsideration by the
,lower court. Final disposition of the case occurred in September
2021. At a minimum, how long must the appraiser retain his
workfile?
Answer: April 2024
◉ · Is an appraiser permitted by USPAP to create a workfile after
transmitting the report to the client?
Answer: No
◉ · An appraiser completes an appraisal and transmits the report to
the client. The report copy retained in the appraiser's workfile does
not have a signature affixed to it. Is this permissible under USPAP?
Answer: No, a true copy must include a signature
◉ · Which statement best describes the word "competency" as it
relates to appraisal practice?
Answer: It is fundamental to the definition of "appraiser."
◉ · Which of these is NOT one of the steps required by USPAP when
an appraiser wishes to perform an assignment for which he or she
initially lacks the knowledge and experience?
Answer: Use a hypothetical condition to complete the assignment as
though the appraiser already had the knowledge and experience
, ◉ · In order to perform an assignment for which an appraiser
initially lacks the knowledge and experience to complete
competently, the appraiser must:
Answer: Disclose to the client, prior to agreeing to perform the
assignment, the lack of knowledge or experience
◉ · Three appraisers work together on an appraisal assignment.
What would NOT be an appropriate workfile arrangement under
USPAP?
Answer: The workfile is posted on the Internet, so that anyone who
wants to see it will be able to access it.
◉ · The requirement to create and maintain a workfile for an
appraisal or appraisal review assignment applies to:
Answer: All appraisers, regardless of credential level
Only trainees or assistants
◉ · In order to determine the appropriate scope of work, the
appraiser must ________ the problem to be solved.
Answer: Identify
◉ · Appraisers have broad _________ and significant _________ in
determining the appropriate scope of work in an assignment.
Answer: Flexibility, responsibility
