USPAP 15-HOUR COURSE EXAM 2025/2026 QUESTIONS
WITH ANSWERS GRADED A+
✔✔AQB - ✔✔• Disseminates to state appraisal boards the qualifications criteria for
appraiser certifications and recertification.
• Responsible for establishing education and experience requirements for licensing and
certification of appraisers.
✔✔BOT - ✔✔appoints members of the APB, AQB, ASB.
✔✔The ethical obligations of USPAP apply to - ✔✔Individual appraisers.
✔✔Bias - ✔✔is never allowed.
✔✔In appraisal practice, advocating the cause or interest of any party or issue is -
✔✔never permitted.
✔✔If an appraiser has appraised a property multiple times within the prior 3 years he
must disclose the number of times he appraised the property to a prospective client. -
✔✔True
✔✔3 years - ✔✔Prior to accepting an assignment, an appraiser must disclose any
service he provided regarding the subject property for a period of
✔✔An appraiser has been asked to complete an appraisal assignment. The fee is to be
paid when when the loan closes. According to USPAP, may the appraiser accept the
assignment under the conditions? - ✔✔No
✔✔The payment of fees by the appraiser in connection with the procurement of an
assignment is - ✔✔allowed if properly disclosed.
✔✔Confidential information is under USPAP is information the appraiser receives from -
✔✔the client an dis identified as confidential, but is not available from other sources.
✔✔The disclosure of confidential information to a third party is unethical unless -
✔✔authorized by the client.
✔✔Competency - ✔✔fundamental to the definition of appraiser.
✔✔An appraiser must obtain the necessary competency prior to accepting the
assignment. - ✔✔False
, ✔✔In order to accept an assignment when an appraise initially lacks the knowledge and
experience to complete an assignment competently he must - ✔✔Disclose to the client,
prior to accepting, the lack of knowledge or experience.
✔✔USPAP ________________ permit an appraiser to create a workfile after
transmitting the report to the client. - ✔✔does not
✔✔An appraiser prepared an appraisal report in April 2009. He testified in court
regarding the value of the property in January 2010. The decision was rendered in
February 2010 and was appealed in March 2010. The appellate court heard the case in
January 2011 and remanded the case for reconsideration by the lower court final
disposition of the case occurred in Sept 2011. At a minimum, how long must the
appraiser retain his workfile? - ✔✔April 2014
✔✔Three appraisers work together on an appraisal consulting assignment. What would
NOT be an appropriate workfile arrangement under USPAP? - ✔✔The workfile is
posted on the internet,s o that anyone who wants to see it will be able to see it.
✔✔Trainer appraiser have the same workfile obligations under USPAP as certified or
licensed appraisers. - ✔✔True
✔✔An appraiser's peers - ✔✔Others who have expertise and competency in a similar
type of assignment.
✔✔Scope of Work in USPAP - ✔✔The report must contain sufficient information so that
intended users understand the scope of work.
✔✔Scope of work decision - ✔✔Exclusion of an approach that is not necessary for
credible, results in a given assignment.
✔✔Jurisdictional exception in an assignment - ✔✔Identify the law, comply with the laws,
disclose in the report the part of USPAP that is voided, and cite in the report the law that
caused it.
✔✔Comply with the law or regulation - ✔✔When a law or regulation precludes
compliance with any part of USPAP, appraisers must.
✔✔Purpose of the Jurisdictional exclusion rule - ✔✔To provide a saving or severability
clause to preserve the balance of USPAP.
✔✔True - ✔✔If USPAP compliance is mandated by federal law, no state or local law
can create a jurisdictional exclusion.
WITH ANSWERS GRADED A+
✔✔AQB - ✔✔• Disseminates to state appraisal boards the qualifications criteria for
appraiser certifications and recertification.
• Responsible for establishing education and experience requirements for licensing and
certification of appraisers.
✔✔BOT - ✔✔appoints members of the APB, AQB, ASB.
✔✔The ethical obligations of USPAP apply to - ✔✔Individual appraisers.
✔✔Bias - ✔✔is never allowed.
✔✔In appraisal practice, advocating the cause or interest of any party or issue is -
✔✔never permitted.
✔✔If an appraiser has appraised a property multiple times within the prior 3 years he
must disclose the number of times he appraised the property to a prospective client. -
✔✔True
✔✔3 years - ✔✔Prior to accepting an assignment, an appraiser must disclose any
service he provided regarding the subject property for a period of
✔✔An appraiser has been asked to complete an appraisal assignment. The fee is to be
paid when when the loan closes. According to USPAP, may the appraiser accept the
assignment under the conditions? - ✔✔No
✔✔The payment of fees by the appraiser in connection with the procurement of an
assignment is - ✔✔allowed if properly disclosed.
✔✔Confidential information is under USPAP is information the appraiser receives from -
✔✔the client an dis identified as confidential, but is not available from other sources.
✔✔The disclosure of confidential information to a third party is unethical unless -
✔✔authorized by the client.
✔✔Competency - ✔✔fundamental to the definition of appraiser.
✔✔An appraiser must obtain the necessary competency prior to accepting the
assignment. - ✔✔False
, ✔✔In order to accept an assignment when an appraise initially lacks the knowledge and
experience to complete an assignment competently he must - ✔✔Disclose to the client,
prior to accepting, the lack of knowledge or experience.
✔✔USPAP ________________ permit an appraiser to create a workfile after
transmitting the report to the client. - ✔✔does not
✔✔An appraiser prepared an appraisal report in April 2009. He testified in court
regarding the value of the property in January 2010. The decision was rendered in
February 2010 and was appealed in March 2010. The appellate court heard the case in
January 2011 and remanded the case for reconsideration by the lower court final
disposition of the case occurred in Sept 2011. At a minimum, how long must the
appraiser retain his workfile? - ✔✔April 2014
✔✔Three appraisers work together on an appraisal consulting assignment. What would
NOT be an appropriate workfile arrangement under USPAP? - ✔✔The workfile is
posted on the internet,s o that anyone who wants to see it will be able to see it.
✔✔Trainer appraiser have the same workfile obligations under USPAP as certified or
licensed appraisers. - ✔✔True
✔✔An appraiser's peers - ✔✔Others who have expertise and competency in a similar
type of assignment.
✔✔Scope of Work in USPAP - ✔✔The report must contain sufficient information so that
intended users understand the scope of work.
✔✔Scope of work decision - ✔✔Exclusion of an approach that is not necessary for
credible, results in a given assignment.
✔✔Jurisdictional exception in an assignment - ✔✔Identify the law, comply with the laws,
disclose in the report the part of USPAP that is voided, and cite in the report the law that
caused it.
✔✔Comply with the law or regulation - ✔✔When a law or regulation precludes
compliance with any part of USPAP, appraisers must.
✔✔Purpose of the Jurisdictional exclusion rule - ✔✔To provide a saving or severability
clause to preserve the balance of USPAP.
✔✔True - ✔✔If USPAP compliance is mandated by federal law, no state or local law
can create a jurisdictional exclusion.
