USPAP 15-hour course Questions and
Answers 100% Pass
The concept of public trust means that an appraiser must act: ✔✔in the public's interest
USPAP establishes standards that are applicable in the appraisal of: ✔✔real property, intangible
property, and personal property
Which statement is TRUE regarding The Appraisal Foundation and USPAP enforcement
authority? ✔✔The Appraisal Foundation does not have the authority to enforce the requirements
of USPAP.
Which entity is responsible for establishing education and experience requirements for licensing
and certification of appraisers? ✔✔Appraiser Qualifications Board (AQB)
Qualification criteria for appraiser certification and recertification are disseminated to state
appraisal boards by the: ✔✔Appraiser Qualifications Board (AQB)
Which entity appoints members of the Foundation's independent Boards? ✔✔Board of Trustees
(BOT)
,USPAP is developed, interpreted, and amended by the: ✔✔Appraisal Standards Board (ASB)
Advisory Opinions are best described as ✔✔Not part of USPAP, but included as reference
material
The ASB is considering comment letters written by members of the public regarding a proposed
revision to USPAP. When reviewing these comment letters, the ASB focuses on: ✔✔The
reasoning and insight presented in the letter
Which is NOT a responsibility of the Appraisal Subcommittee (ASC)? ✔✔Developing,
amending, and interpreting USPAP
Who is responsible for issuing credentials to individual appraisers? ✔✔State appraisal regulatory
agencies
Under FIRREA, USPAP is enforced by: ✔✔State appraiser licensing/certification agencies
, Which entity maintains the official national registry of state-certified and licensed appraisers?
✔✔Appraisal Subcommittee (ASC)
In USPAP, the appraisal process is divided into two distinct types of activity: _________ and
__________. ✔✔development, reporting
Which step in the appraisal process involves communication of the appraiser's opinions and
conclusions? ✔✔reporting
The first step in the appraisal process is: ✔✔Identify the problem
A preference or inclination that precludes an appraiser's impartiality, independence, or
objectivity is: ✔✔bias
An appraiser is not permitted to be ____________ when performing an appraisal. ✔✔an
advocate
conveys a mental state that does not favor one side over another at the outset of an investigation
is what? ✔✔impartiality
Answers 100% Pass
The concept of public trust means that an appraiser must act: ✔✔in the public's interest
USPAP establishes standards that are applicable in the appraisal of: ✔✔real property, intangible
property, and personal property
Which statement is TRUE regarding The Appraisal Foundation and USPAP enforcement
authority? ✔✔The Appraisal Foundation does not have the authority to enforce the requirements
of USPAP.
Which entity is responsible for establishing education and experience requirements for licensing
and certification of appraisers? ✔✔Appraiser Qualifications Board (AQB)
Qualification criteria for appraiser certification and recertification are disseminated to state
appraisal boards by the: ✔✔Appraiser Qualifications Board (AQB)
Which entity appoints members of the Foundation's independent Boards? ✔✔Board of Trustees
(BOT)
,USPAP is developed, interpreted, and amended by the: ✔✔Appraisal Standards Board (ASB)
Advisory Opinions are best described as ✔✔Not part of USPAP, but included as reference
material
The ASB is considering comment letters written by members of the public regarding a proposed
revision to USPAP. When reviewing these comment letters, the ASB focuses on: ✔✔The
reasoning and insight presented in the letter
Which is NOT a responsibility of the Appraisal Subcommittee (ASC)? ✔✔Developing,
amending, and interpreting USPAP
Who is responsible for issuing credentials to individual appraisers? ✔✔State appraisal regulatory
agencies
Under FIRREA, USPAP is enforced by: ✔✔State appraiser licensing/certification agencies
, Which entity maintains the official national registry of state-certified and licensed appraisers?
✔✔Appraisal Subcommittee (ASC)
In USPAP, the appraisal process is divided into two distinct types of activity: _________ and
__________. ✔✔development, reporting
Which step in the appraisal process involves communication of the appraiser's opinions and
conclusions? ✔✔reporting
The first step in the appraisal process is: ✔✔Identify the problem
A preference or inclination that precludes an appraiser's impartiality, independence, or
objectivity is: ✔✔bias
An appraiser is not permitted to be ____________ when performing an appraisal. ✔✔an
advocate
conveys a mental state that does not favor one side over another at the outset of an investigation
is what? ✔✔impartiality
