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USPAP (Example Questions and Answers from the
book) Exam Questions and Answers 100% Pass
Different appraisal regulations among states. - ANSWER ✔✔-Which is not one of the contributing factors
that led to a need for regulation in the appraisal profession?
Appraisal Subcommittee (ASC) - ANSWER ✔✔-Responsible for the Federal oversight of state real estate
licensing and certification
TRUE - ANSWER ✔✔-(T/F) The AppraisalSubcommittee monitors the activities of TAF to determine if
policies and procedures are consistent with title XI of FIRREA
Appraisal Subcommittee (ASC) - ANSWER ✔✔-Which board maintains the official National Registry of
appraisers?
Appraisal Practices Board (APB) - ANSWER ✔✔-The board that identifies and issues voluntary guidance
relating to recognized methods and techniques is the
TRUE - ANSWER ✔✔-(T/F) State agencies may impose appraiser requirements above and beyond those
required by the Appraiser Qualifications Board and the Appraiser Standards Board.
State Regulatory Agencies - ANSWER ✔✔-Who is responsible for enforcing USPAP?
Contains terms that have a specific meaning in USPAP - ANSWER ✔✔-The definitions section of USPAP
Promote and maintain a high level of public trust in appraisal practice. - ANSWER ✔✔-The preamble of
USPAP sets the tone that the purpose of USPAP is to
A manner that is meaningful and not misleading. - ANSWER ✔✔-The preamble of USPAP requires.
Appraisers to communicate their analysis, opinions and conclusions in
Created by Grace Amelia © 2025, All Rights Reserved.
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3. Disclose the scope of work in the report. - ANSWER ✔✔-The Scope of Work Rule establishes three
general requirements. 1. Identify the problem, 2. Determine the appropriate scope of work and
Illustrate the applicability of USPAP in specific situations. - ANSWER ✔✔-Shelia had concerns about an
appraisal situation and she was uncertain how to proceed. She consulted the USPAP Advisory opinions
which
Advisory Opinions - ANSWER ✔✔-Which is NOT a part of USPAP?
Standard 2 - ANSWER ✔✔-Which USPAP Standard addresses the reporting of an individual in a real
property appraisal?
Problem identification - ANSWER ✔✔-The USPAP Appraisal Process begins with
Reconciliation and final value opinion. - ANSWER ✔✔-In the USPAP Appraisal Process, which is the
final step in the development process?
All types of property. - ANSWER ✔✔-The USPAP Appraisal Process can be followed for appraising what
types of property?
Relationship to a previous appraisal or numerical benchmark. - ANSWER ✔✔-An appraisal must be in a
specific number, a range of numbers or a
Workfile - ANSWER ✔✔-The subject of an appraisal review could be all or part of a REPORT,
a___________________________, or a combination of these
Do not - ANSWER ✔✔-USPAP definitions ____________________ specifically define the term "Market
Value" that is consistently applied by the appraiser when the type of value in the assignment is market
value.
Created by Grace Amelia © 2025, All Rights Reserved.
, 3|Page
An authorized representative of the lender - ANSWER ✔✔-In an assignment for which the appraiser was
hired by an appraisal management company (AMC) the appraiser may consider the lender the client as
long as the AMC is
Opinions and conclusions - ANSWER ✔✔-Within USPAP, the appraisers
_______________________________ are (is) always specific to the intended use
By name or type - ANSWER ✔✔-Intended users in a specific assignment must be identified
Preference or inclination - ANSWER ✔✔-USPAP defines bias as a ________________________ that
precludes an appraisers impartiality, independence or objectivity in an assignment
Identify the problem - ANSWER ✔✔-In order to determine the scope of work to perform in an
assignment, what must the appraiser first do?
Assumption - ANSWER ✔✔-Craig, a real property appraiser is not an expert in real estate law. In every
assignment, he includes a disclosure stating this fact and that in his conclusions, he is considering the
property to have good and marketable title. which best describes Craig's action?
Extraordinary Assumption - ANSWER ✔✔-Appraiser Linda could not check the furnace to see if it is in
good working order as the utilities are off. As the home is relatively new and the furnace appears to be in
good condition, Linda believes it is in satisfactory working condition, but she is not sure. She bases her
conclusion on an
Hypothetical condition. - ANSWER ✔✔-Chad appraised a property that had an inoperative air
conditioner at the date of the appraisal. Chad considered the air conditioner as if it was working in the
analysis, thus basing his opinions and conclusions on a
Price - ANSWER ✔✔-Considered factual once stated, this is the amount asked, offered or paid for a
property.
Created by Grace Amelia © 2025, All Rights Reserved.
USPAP (Example Questions and Answers from the
book) Exam Questions and Answers 100% Pass
Different appraisal regulations among states. - ANSWER ✔✔-Which is not one of the contributing factors
that led to a need for regulation in the appraisal profession?
Appraisal Subcommittee (ASC) - ANSWER ✔✔-Responsible for the Federal oversight of state real estate
licensing and certification
TRUE - ANSWER ✔✔-(T/F) The AppraisalSubcommittee monitors the activities of TAF to determine if
policies and procedures are consistent with title XI of FIRREA
Appraisal Subcommittee (ASC) - ANSWER ✔✔-Which board maintains the official National Registry of
appraisers?
Appraisal Practices Board (APB) - ANSWER ✔✔-The board that identifies and issues voluntary guidance
relating to recognized methods and techniques is the
TRUE - ANSWER ✔✔-(T/F) State agencies may impose appraiser requirements above and beyond those
required by the Appraiser Qualifications Board and the Appraiser Standards Board.
State Regulatory Agencies - ANSWER ✔✔-Who is responsible for enforcing USPAP?
Contains terms that have a specific meaning in USPAP - ANSWER ✔✔-The definitions section of USPAP
Promote and maintain a high level of public trust in appraisal practice. - ANSWER ✔✔-The preamble of
USPAP sets the tone that the purpose of USPAP is to
A manner that is meaningful and not misleading. - ANSWER ✔✔-The preamble of USPAP requires.
Appraisers to communicate their analysis, opinions and conclusions in
Created by Grace Amelia © 2025, All Rights Reserved.
,2|Page
3. Disclose the scope of work in the report. - ANSWER ✔✔-The Scope of Work Rule establishes three
general requirements. 1. Identify the problem, 2. Determine the appropriate scope of work and
Illustrate the applicability of USPAP in specific situations. - ANSWER ✔✔-Shelia had concerns about an
appraisal situation and she was uncertain how to proceed. She consulted the USPAP Advisory opinions
which
Advisory Opinions - ANSWER ✔✔-Which is NOT a part of USPAP?
Standard 2 - ANSWER ✔✔-Which USPAP Standard addresses the reporting of an individual in a real
property appraisal?
Problem identification - ANSWER ✔✔-The USPAP Appraisal Process begins with
Reconciliation and final value opinion. - ANSWER ✔✔-In the USPAP Appraisal Process, which is the
final step in the development process?
All types of property. - ANSWER ✔✔-The USPAP Appraisal Process can be followed for appraising what
types of property?
Relationship to a previous appraisal or numerical benchmark. - ANSWER ✔✔-An appraisal must be in a
specific number, a range of numbers or a
Workfile - ANSWER ✔✔-The subject of an appraisal review could be all or part of a REPORT,
a___________________________, or a combination of these
Do not - ANSWER ✔✔-USPAP definitions ____________________ specifically define the term "Market
Value" that is consistently applied by the appraiser when the type of value in the assignment is market
value.
Created by Grace Amelia © 2025, All Rights Reserved.
, 3|Page
An authorized representative of the lender - ANSWER ✔✔-In an assignment for which the appraiser was
hired by an appraisal management company (AMC) the appraiser may consider the lender the client as
long as the AMC is
Opinions and conclusions - ANSWER ✔✔-Within USPAP, the appraisers
_______________________________ are (is) always specific to the intended use
By name or type - ANSWER ✔✔-Intended users in a specific assignment must be identified
Preference or inclination - ANSWER ✔✔-USPAP defines bias as a ________________________ that
precludes an appraisers impartiality, independence or objectivity in an assignment
Identify the problem - ANSWER ✔✔-In order to determine the scope of work to perform in an
assignment, what must the appraiser first do?
Assumption - ANSWER ✔✔-Craig, a real property appraiser is not an expert in real estate law. In every
assignment, he includes a disclosure stating this fact and that in his conclusions, he is considering the
property to have good and marketable title. which best describes Craig's action?
Extraordinary Assumption - ANSWER ✔✔-Appraiser Linda could not check the furnace to see if it is in
good working order as the utilities are off. As the home is relatively new and the furnace appears to be in
good condition, Linda believes it is in satisfactory working condition, but she is not sure. She bases her
conclusion on an
Hypothetical condition. - ANSWER ✔✔-Chad appraised a property that had an inoperative air
conditioner at the date of the appraisal. Chad considered the air conditioner as if it was working in the
analysis, thus basing his opinions and conclusions on a
Price - ANSWER ✔✔-Considered factual once stated, this is the amount asked, offered or paid for a
property.
Created by Grace Amelia © 2025, All Rights Reserved.
