USPAP 15-HOUR COURSE EXAM SCRIPT 2025/2026
QUESTIONS WITH ANSWERS GRADED A+
✔✔When does a series of minor errors potentially result in a USPAP violation? -
✔✔When the series of errors affects the credibility of the results
✔✔STANDARD 1 requires an appraiser to ____________ in developing a real property
appraisal. - ✔✔Use due diligence and due care
✔✔Exposure time is: - ✔✔Always assumed to precede the effective date of the
appraisal
✔✔When is identification of the intended use of an appraiser's opinions and conclusions
necessary in an appraisal assignment? - ✔✔it is necessary in all appraisal assignments
✔✔If a borrower receives a copy of an appraisal report from a mortgage lender as a
result of disclosure requirements: - ✔✔This does not make the borrower an intended
user
✔✔If a client in an appraisal assignment wishes to remain anonymous, the appraiser
must: - ✔✔Document the client's identity in the workfile and state in the report that the
client's identity has been withheld at the client's request
✔✔What should an appraiser do if, during the course of an assignment, he or she
becomes aware of a change in the intended use of the report? - ✔✔Consider whether
the extent of the planned development process and report are still appropriate
✔✔What is the primary purpose of an appraiser making an inspection of the subject
property? - ✔✔To collect information about characteristics that are relevant to value
✔✔An example of a relevant property characteristic that could affect a real property
appraisal assignment would be: - ✔✔The fact that the subject property is affected by an
easement
✔✔When appraising proposed improvements, what type of appraisal is permitted by
USPAP? (Select the most complete answer. - ✔✔both current and prospective
✔✔When an appraiser provides a current value opinion on a proposed new building, he
or she is utilizing a(an) _____________ that the proposed improvements are completed
as of the effective date of the appraisal. - ✔✔hypothetical condition
✔✔An extraordinary assumption may be used in an assignment only if: - ✔✔The
appraiser has a reasonable basis for the extraordinary assumption
, ✔✔An appraiser performs a research assignment, in which the appraiser completes
research for a client but does not develop any opinions or conclusions. Which statement
is TRUE regarding this assignment? - ✔✔This is not an appraisal, but it is part of
appraisal practice.
✔✔Which statement is TRUE regarding USPAP and the three approaches to value? -
✔✔An assignment condition may require an appraiser to develop an approach that he
or she would otherwise consider unnecessary.
✔✔When developing a sales comparison approach under USPAP: - ✔✔The appraiser
must analyze such data as are available to indicate a value conclusion
✔✔When analyzing the subject property's sales history in a real property appraisal
assignment, an appraiser is required by USPAP to analyze ______________. - ✔✔All
sales of the subject property that occurred within three years prior to the effective date
of the appraisal
✔✔If an appraiser is asked to appraise a property on which there is a known, current
agreement of sale, the agreement must be: - ✔✔analyzed in the appraisal
✔✔When analyzing listings of the subject property in a real property appraisal
assignment, USPAP requires an appraiser to analyze, at a minimum, ____________. -
✔✔current listings
✔✔When is it necessary to analyze prior listings of the subject property in a real
property appraisal assignment? - ✔✔When such analysis is relevant to the current
assignment
✔✔The process of reconciliation entails ___________. - ✔✔Careful consideration of the
quality and quantity of data
✔✔Standards Rule 1-5 requires an appraiser to analyze the sales history of the
comparable sales. - ✔✔false
✔✔STANDARD 2 sets forth requirements for: - ✔✔Appraisal report content
✔✔The use of standard appraisal reporting forms: - ✔✔Is not required by STANDARD 2
✔✔The written report options set forth in Standards Rule 2-2 are - ✔✔Appraisal Report
and Restricted Appraisal Report
QUESTIONS WITH ANSWERS GRADED A+
✔✔When does a series of minor errors potentially result in a USPAP violation? -
✔✔When the series of errors affects the credibility of the results
✔✔STANDARD 1 requires an appraiser to ____________ in developing a real property
appraisal. - ✔✔Use due diligence and due care
✔✔Exposure time is: - ✔✔Always assumed to precede the effective date of the
appraisal
✔✔When is identification of the intended use of an appraiser's opinions and conclusions
necessary in an appraisal assignment? - ✔✔it is necessary in all appraisal assignments
✔✔If a borrower receives a copy of an appraisal report from a mortgage lender as a
result of disclosure requirements: - ✔✔This does not make the borrower an intended
user
✔✔If a client in an appraisal assignment wishes to remain anonymous, the appraiser
must: - ✔✔Document the client's identity in the workfile and state in the report that the
client's identity has been withheld at the client's request
✔✔What should an appraiser do if, during the course of an assignment, he or she
becomes aware of a change in the intended use of the report? - ✔✔Consider whether
the extent of the planned development process and report are still appropriate
✔✔What is the primary purpose of an appraiser making an inspection of the subject
property? - ✔✔To collect information about characteristics that are relevant to value
✔✔An example of a relevant property characteristic that could affect a real property
appraisal assignment would be: - ✔✔The fact that the subject property is affected by an
easement
✔✔When appraising proposed improvements, what type of appraisal is permitted by
USPAP? (Select the most complete answer. - ✔✔both current and prospective
✔✔When an appraiser provides a current value opinion on a proposed new building, he
or she is utilizing a(an) _____________ that the proposed improvements are completed
as of the effective date of the appraisal. - ✔✔hypothetical condition
✔✔An extraordinary assumption may be used in an assignment only if: - ✔✔The
appraiser has a reasonable basis for the extraordinary assumption
, ✔✔An appraiser performs a research assignment, in which the appraiser completes
research for a client but does not develop any opinions or conclusions. Which statement
is TRUE regarding this assignment? - ✔✔This is not an appraisal, but it is part of
appraisal practice.
✔✔Which statement is TRUE regarding USPAP and the three approaches to value? -
✔✔An assignment condition may require an appraiser to develop an approach that he
or she would otherwise consider unnecessary.
✔✔When developing a sales comparison approach under USPAP: - ✔✔The appraiser
must analyze such data as are available to indicate a value conclusion
✔✔When analyzing the subject property's sales history in a real property appraisal
assignment, an appraiser is required by USPAP to analyze ______________. - ✔✔All
sales of the subject property that occurred within three years prior to the effective date
of the appraisal
✔✔If an appraiser is asked to appraise a property on which there is a known, current
agreement of sale, the agreement must be: - ✔✔analyzed in the appraisal
✔✔When analyzing listings of the subject property in a real property appraisal
assignment, USPAP requires an appraiser to analyze, at a minimum, ____________. -
✔✔current listings
✔✔When is it necessary to analyze prior listings of the subject property in a real
property appraisal assignment? - ✔✔When such analysis is relevant to the current
assignment
✔✔The process of reconciliation entails ___________. - ✔✔Careful consideration of the
quality and quantity of data
✔✔Standards Rule 1-5 requires an appraiser to analyze the sales history of the
comparable sales. - ✔✔false
✔✔STANDARD 2 sets forth requirements for: - ✔✔Appraisal report content
✔✔The use of standard appraisal reporting forms: - ✔✔Is not required by STANDARD 2
✔✔The written report options set forth in Standards Rule 2-2 are - ✔✔Appraisal Report
and Restricted Appraisal Report
