USPAP Questions and Answers 100%
Pass
APPRAISAL ✔✔(noun) act or process of developing an opinion of value; an opinion of value
(adj) of or pertaining to appraising and related functions such as an appraisal practice or
appraisal services
APPRAISAL CONSULTING ✔✔the act or process of developing an analysis, recommendation
or opinion to solve a problem, where an opinion of value is a component of the anaylsis leading
to the assignment results.
APPRAISAL PRACTICE ✔✔valuation services performed by an individual acting as an
appraiser, including but not limited to appraisal,, appraisal review, or appraisal consulting.
ASSUMPTION ✔✔that which is taken to be true
Gramm-Leach-Bliley Act (Nov 1999) ✔✔some public agencies have adopted privacy
regulations that affect appraisers. As a result, the FTC issued a rule focued on the protection of
"non-public personal information" provided by consumers to those involved in financial
activities.
Pass
APPRAISAL ✔✔(noun) act or process of developing an opinion of value; an opinion of value
(adj) of or pertaining to appraising and related functions such as an appraisal practice or
appraisal services
APPRAISAL CONSULTING ✔✔the act or process of developing an analysis, recommendation
or opinion to solve a problem, where an opinion of value is a component of the anaylsis leading
to the assignment results.
APPRAISAL PRACTICE ✔✔valuation services performed by an individual acting as an
appraiser, including but not limited to appraisal,, appraisal review, or appraisal consulting.
ASSUMPTION ✔✔that which is taken to be true
Gramm-Leach-Bliley Act (Nov 1999) ✔✔some public agencies have adopted privacy
regulations that affect appraisers. As a result, the FTC issued a rule focued on the protection of
"non-public personal information" provided by consumers to those involved in financial
activities.
