2024 National USPAP Course
Study online at https://quizlet.com/_fcixmo
1. Qualification criteria for appraiser certification and Appraiser Qualifica-
recertification are disseminated to state appraisal tions Board (AQB)
boards by the:
2. Which entity is responsible for establishing educa- Appraiser Qualifica-
tion and experience requirements for licensing and tions Board (AQB)
certification of appraisers?
3. Which entity appoints members of the AQB and Board of Trustees
ASB? (BOT)
4. Advisory Opinions are best described as not part of USPAP,
but included as refer-
ence material
5. USPAP is written, amended, and interpreted by the: Appraisal Standards
Board (ASB)
6. Which entity maintains the official National Reg- Appraisal Subcom-
istry of state-certified and licensed appraisers? mittee (ASC)
7. Who is responsible for issuing credentials to indi- State appraisal regu-
vidual appraisers? latory agencies
8. Which is NOT a responsibility of the Appraisal Sub- Writing, interpreting,
committee (ASC)? and amending US-
PAP
9. USPAP is enforced by: State apprais-
er licensing/certifica-
tion agencies
10. Why are USPAP Advisory Opinions issued? To offer advice
11. Which part of USPAP establishes the requirements RECORD KEEPING
for workfile content for an appraisal or appraisal RULE
review assignment?
12. Comments
, 2024 National USPAP Course
Study online at https://quizlet.com/_fcixmo
Which of these is considered an integral part of US-
PAP and has the same weight as the components
they address?
13. The first step in the appraisal process is: Identify the problem
14. In USPAP, the appraisal process is divided into Development, re-
two distinct types of activity: _________ and porting
__________.
15. Which step in the appraisal process involves com- Reporting
munication of the appraiser's opinions and conclu-
sions?
16. What is the stated purpose of USPAP? Promote and main-
tain a high level of
public trust in ap-
praisal practice
17. When obligated by law or regulation, an appraiser Must
_______ comply with USPAP.
18. The PREAMBLE states that USPAP intended to Appraisers and
benefit: users of appraisal
services
19. An appraiser has the professional responsibility to True
identify the capacity in which he or she is perform-
ing.
20. The requirement for USPAP compliance in an ap- Any of these an-
praisal assignment could be the result of: swers
21. USPAP states that in a situation when an individual The individual
is not required by law, regulation, or agreement to should still comply
comply with USPAP: when he or she is
acting as an apprais-
er
22.
, 2024 National USPAP Course
Study online at https://quizlet.com/_fcixmo
A valuation service that is premised upon advoca- Cannot be per-
cy: formed by an individ-
ual acting as an ap-
praiser
23. When performing valuation services outside of ap- Mislead
praisal practice, an individual must be careful not
to __________ the client and other intended users
about his or her role.
24. An appraiser is permitted to be biased when per- False
forming an appraisal, as long as the bias is properly
disclosed.
25. A preference or inclination that precludes an ap- Bias
praiser's impartiality, independence, or objectivity
is:
26. If an appraiser assumes a condition to be true, and An extraordinary as-
evidence supports that belief, although that fact is sumption
not certain, this is an example of:
27. If an appraiser assumes a condition to be true that A hypothetical condi-
does not exist for the purposes of analysis, this is tion
an example of:
28. By using a published cost manual, an appraiser Cost
determines that the construction cost of a 2,500
square foot dwelling is $400,000. This figure repre-
sents the dwelling's:
29. An appraiser receives a copy of a signed sales Price
agreement for an office building, which specifies
the agreed-upon amount of $950,000. What does
this $950,000 figure represent?
30. "The monetary relationship between properties Value
and those who buy, sell or use those properties" is
the definition of:
Study online at https://quizlet.com/_fcixmo
1. Qualification criteria for appraiser certification and Appraiser Qualifica-
recertification are disseminated to state appraisal tions Board (AQB)
boards by the:
2. Which entity is responsible for establishing educa- Appraiser Qualifica-
tion and experience requirements for licensing and tions Board (AQB)
certification of appraisers?
3. Which entity appoints members of the AQB and Board of Trustees
ASB? (BOT)
4. Advisory Opinions are best described as not part of USPAP,
but included as refer-
ence material
5. USPAP is written, amended, and interpreted by the: Appraisal Standards
Board (ASB)
6. Which entity maintains the official National Reg- Appraisal Subcom-
istry of state-certified and licensed appraisers? mittee (ASC)
7. Who is responsible for issuing credentials to indi- State appraisal regu-
vidual appraisers? latory agencies
8. Which is NOT a responsibility of the Appraisal Sub- Writing, interpreting,
committee (ASC)? and amending US-
PAP
9. USPAP is enforced by: State apprais-
er licensing/certifica-
tion agencies
10. Why are USPAP Advisory Opinions issued? To offer advice
11. Which part of USPAP establishes the requirements RECORD KEEPING
for workfile content for an appraisal or appraisal RULE
review assignment?
12. Comments
, 2024 National USPAP Course
Study online at https://quizlet.com/_fcixmo
Which of these is considered an integral part of US-
PAP and has the same weight as the components
they address?
13. The first step in the appraisal process is: Identify the problem
14. In USPAP, the appraisal process is divided into Development, re-
two distinct types of activity: _________ and porting
__________.
15. Which step in the appraisal process involves com- Reporting
munication of the appraiser's opinions and conclu-
sions?
16. What is the stated purpose of USPAP? Promote and main-
tain a high level of
public trust in ap-
praisal practice
17. When obligated by law or regulation, an appraiser Must
_______ comply with USPAP.
18. The PREAMBLE states that USPAP intended to Appraisers and
benefit: users of appraisal
services
19. An appraiser has the professional responsibility to True
identify the capacity in which he or she is perform-
ing.
20. The requirement for USPAP compliance in an ap- Any of these an-
praisal assignment could be the result of: swers
21. USPAP states that in a situation when an individual The individual
is not required by law, regulation, or agreement to should still comply
comply with USPAP: when he or she is
acting as an apprais-
er
22.
, 2024 National USPAP Course
Study online at https://quizlet.com/_fcixmo
A valuation service that is premised upon advoca- Cannot be per-
cy: formed by an individ-
ual acting as an ap-
praiser
23. When performing valuation services outside of ap- Mislead
praisal practice, an individual must be careful not
to __________ the client and other intended users
about his or her role.
24. An appraiser is permitted to be biased when per- False
forming an appraisal, as long as the bias is properly
disclosed.
25. A preference or inclination that precludes an ap- Bias
praiser's impartiality, independence, or objectivity
is:
26. If an appraiser assumes a condition to be true, and An extraordinary as-
evidence supports that belief, although that fact is sumption
not certain, this is an example of:
27. If an appraiser assumes a condition to be true that A hypothetical condi-
does not exist for the purposes of analysis, this is tion
an example of:
28. By using a published cost manual, an appraiser Cost
determines that the construction cost of a 2,500
square foot dwelling is $400,000. This figure repre-
sents the dwelling's:
29. An appraiser receives a copy of a signed sales Price
agreement for an office building, which specifies
the agreed-upon amount of $950,000. What does
this $950,000 figure represent?
30. "The monetary relationship between properties Value
and those who buy, sell or use those properties" is
the definition of:
