USPAP 15-Hour Course Questions and
Answers Already Passed
The Preamble states that USPAP is ✔✔for appraisers and users of appraisal services.
The stated purpose of USPAP ✔✔Promote and maintain a high level of public trust in appraisal
practice.
When obligated by law or regulation an appraiser must ✔✔comply with USPAP.
USPAP applies to which types of properties? ✔✔Tangible and Intangible
Valuation services ✔✔is not a subset of appraisal practice.
An appraiser has the professional responsibility ✔✔to identify the capacity in which he or she is
performing.
Reasons why an appraiser would prepare an appraisal assignment in conformance with USPAP
✔✔1. Agreement with client.
,2. Law or regulation.
3. Voluntary choice.
An appraiser who provides an appraisal service that is not an appraisal, appraisal review, or
appraisal consulting assignment does not have workfile obligations associated with the
assignment. ✔✔True
An individual is not prohibited from providing valuation services that involve advocacy while
acting as an appraiser. ✔✔False
When performing valuation services outside of appraisal practice, appraisers must be careful not
to _________________ the client and other intended users about their role. ✔✔Mislead
USPAP states that in a situation when an individual is not required by law, regulation, or
agreement to comply with USPAP: ✔✔The individual should still comply when acting as an
appraiser.
An appraiser is engaged to teach an appraisal course. What parts of USPAP apply? ✔✔The parts
of USPAP that apply generally to appraisal practice.
, The Appraisal Practices Board (APB) was created when? ✔✔2010
The APB is a(n) ✔✔independent board.
Boards within The Appraisal Foundation (TAF) ✔✔1. Board of Trustees (BOT)
2. Appraisal Standards Board (ASB)
3. Appraisal Qualifications Board (AQB)
4. Appraisal Practices Board (APB)
APB is a ✔✔private entity.
The APB has authority to enforce the requirements of USPAP. ✔✔False
Who has the only jurisdiction and authority over appraisers? ✔✔States
ASB ✔✔Develops, interprets, and amends USPAP.
Answers Already Passed
The Preamble states that USPAP is ✔✔for appraisers and users of appraisal services.
The stated purpose of USPAP ✔✔Promote and maintain a high level of public trust in appraisal
practice.
When obligated by law or regulation an appraiser must ✔✔comply with USPAP.
USPAP applies to which types of properties? ✔✔Tangible and Intangible
Valuation services ✔✔is not a subset of appraisal practice.
An appraiser has the professional responsibility ✔✔to identify the capacity in which he or she is
performing.
Reasons why an appraiser would prepare an appraisal assignment in conformance with USPAP
✔✔1. Agreement with client.
,2. Law or regulation.
3. Voluntary choice.
An appraiser who provides an appraisal service that is not an appraisal, appraisal review, or
appraisal consulting assignment does not have workfile obligations associated with the
assignment. ✔✔True
An individual is not prohibited from providing valuation services that involve advocacy while
acting as an appraiser. ✔✔False
When performing valuation services outside of appraisal practice, appraisers must be careful not
to _________________ the client and other intended users about their role. ✔✔Mislead
USPAP states that in a situation when an individual is not required by law, regulation, or
agreement to comply with USPAP: ✔✔The individual should still comply when acting as an
appraiser.
An appraiser is engaged to teach an appraisal course. What parts of USPAP apply? ✔✔The parts
of USPAP that apply generally to appraisal practice.
, The Appraisal Practices Board (APB) was created when? ✔✔2010
The APB is a(n) ✔✔independent board.
Boards within The Appraisal Foundation (TAF) ✔✔1. Board of Trustees (BOT)
2. Appraisal Standards Board (ASB)
3. Appraisal Qualifications Board (AQB)
4. Appraisal Practices Board (APB)
APB is a ✔✔private entity.
The APB has authority to enforce the requirements of USPAP. ✔✔False
Who has the only jurisdiction and authority over appraisers? ✔✔States
ASB ✔✔Develops, interprets, and amends USPAP.
