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USPAP 15-Hour Course Questions And Answers | Latest
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Update
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la
tz
The concept of public trust means that an appraiser must act: - ANS--in the
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Sp
public's interest
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la
USPAP establishes standards that are applicable in the appraisal of: -
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Sp
ANS--real property, intangible property, and personal property
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la
tz
Which statement is TRUE regarding The Appraisal Foundation and USPAP
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Sp
enforcement authority? - ANS--The Appraisal Foundation does not have
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the authority to enforce the requirements of USPAP.
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sh
Sp
Which entity is responsible for establishing education and experience
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requirements for licensing and certification of appraisers? - ANS--Appraiser
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Qualifications Board (AQB)
tz
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Sp
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Qualification criteria for appraiser certification and recertification are
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disseminated to state appraisal boards by the: - ANS--Appraiser
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Qualifications Board (AQB)
Sp
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la
Which entity appoints members of the Foundation's independent Boards? -
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ANS--Board of Trustees (BOT)
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Sp
ne
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USPAP is developed, interpreted, and amended by the: - ANS--Appraisal
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Standards Board (ASB)
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a
tz
Advisory Opinions are best described as - ANS--Not part of USPAP, but
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Sp
included as reference material
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Sp
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USPAP 15-Hour Course Questions And Answers | Latest
sh
Update
ne
la
tz
The ASB is considering comment letters written by members of the public
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Sp
regarding a proposed revision to USPAP. When reviewing these comment
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letters, the ASB focuses on: - ANS--The reasoning and insight presented in
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the letter
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Sp
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Which is NOT a responsibility of the Appraisal Subcommittee (ASC)? -
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ANS--Developing, amending, and interpreting USPAP
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Sp
ne
Who is responsible for issuing credentials to individual appraisers? - ANS--
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State appraisal regulatory agencies
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Sp
ne
Under FIRREA, USPAP is enforced by: - ANS--State appraiser
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licensing/certification agencies
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sh
Sp
ne
Which entity maintains the official national registry of state-certified and
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licensed appraisers? - ANS--Appraisal Subcommittee (ASC)
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Sp
ne
In USPAP, the appraisal process is divided into two distinct types of
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activity: _________ and __________. - ANS--development, reporting
tz
sh
Sp
ne
Which step in the appraisal process involves communication of the
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appraiser's opinions and conclusions? - ANS--reporting
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Sp
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The first step in the appraisal process is: - ANS--Identify the problem
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Sp
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A preference or inclination that precludes an appraiser's impartiality,
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independence, or objectivity is: - ANS--bias
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Sp
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Sp
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USPAP 15-Hour Course Questions And Answers | Latest
sh
Update
ne
la
tz
sh
Sp
An appraiser is not permitted to be ____________ when performing an
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appraisal. - ANS--an advocate
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Sp
conveys a mental state that does not favor one side over another at the
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outset of an investigation is what? - ANS--impartiality
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tz
sh
Sp
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representing the cause or interest of another, even if that cause or interest
does not necessarily coincide with one's own beliefs, opinions, conclusions,
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or recommendations is what? - ANS--advocacy
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Sp
ne
If an appraiser assumes a condition to be true, and evidence supports that
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tz
belief, although that fact is not certain, this is an example of: - ANS--an
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Sp
extraordinary assumption
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la
If an appraiser assumes a condition to be true that does not exist for the
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Sp
purposes of analysis, this is an example of: - ANS--hypothetical condition
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la
tz
The terms extraordinary assumption and hypothetical condition: - ANS--
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Sp
Have different meanings within USPAP
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la
By using a published cost manual, an appraiser determines that the
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Sp
construction cost of a 2,500 square foot dwelling is $400,000. This figure
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represents the dwelling's: - ANS--cost
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tz
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sh
Sp
"The monetary relationship between properties and those who buy, sell or
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use those properties" is the definition of: - ANS--value
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sh
Sp
la
Sp
USPAP 15-Hour Course Questions And Answers | Latest
sh
Update
ne
la
tz
The concept of public trust means that an appraiser must act: - ANS--in the
sh
Sp
public's interest
ne
la
USPAP establishes standards that are applicable in the appraisal of: -
sh
Sp
ANS--real property, intangible property, and personal property
ne
la
tz
Which statement is TRUE regarding The Appraisal Foundation and USPAP
sh
Sp
enforcement authority? - ANS--The Appraisal Foundation does not have
ne
the authority to enforce the requirements of USPAP.
la
sh
Sp
Which entity is responsible for establishing education and experience
ne
requirements for licensing and certification of appraisers? - ANS--Appraiser
la
Qualifications Board (AQB)
tz
sh
Sp
ne
Qualification criteria for appraiser certification and recertification are
la
disseminated to state appraisal boards by the: - ANS--Appraiser
sh
Qualifications Board (AQB)
Sp
ne
la
Which entity appoints members of the Foundation's independent Boards? -
tz
ANS--Board of Trustees (BOT)
sh
Sp
ne
la
USPAP is developed, interpreted, and amended by the: - ANS--Appraisal
sh
Standards Board (ASB)
Sp
ne
a
tz
Advisory Opinions are best described as - ANS--Not part of USPAP, but
l
sh
Sp
included as reference material
ne
la
sh
Sp
la
Sp
, ne
USPAP 15-Hour Course Questions And Answers | Latest
sh
Update
ne
la
tz
The ASB is considering comment letters written by members of the public
sh
Sp
regarding a proposed revision to USPAP. When reviewing these comment
ne
letters, the ASB focuses on: - ANS--The reasoning and insight presented in
la
the letter
sh
Sp
ne
Which is NOT a responsibility of the Appraisal Subcommittee (ASC)? -
la
ANS--Developing, amending, and interpreting USPAP
tz
sh
Sp
ne
Who is responsible for issuing credentials to individual appraisers? - ANS--
la
State appraisal regulatory agencies
sh
Sp
ne
Under FIRREA, USPAP is enforced by: - ANS--State appraiser
la
licensing/certification agencies
tz
sh
Sp
ne
Which entity maintains the official national registry of state-certified and
la
licensed appraisers? - ANS--Appraisal Subcommittee (ASC)
sh
Sp
ne
In USPAP, the appraisal process is divided into two distinct types of
la
activity: _________ and __________. - ANS--development, reporting
tz
sh
Sp
ne
Which step in the appraisal process involves communication of the
la
appraiser's opinions and conclusions? - ANS--reporting
sh
Sp
ne
The first step in the appraisal process is: - ANS--Identify the problem
a
tz
l
sh
Sp
ne
A preference or inclination that precludes an appraiser's impartiality,
la
independence, or objectivity is: - ANS--bias
sh
Sp
la
Sp
, ne
USPAP 15-Hour Course Questions And Answers | Latest
sh
Update
ne
la
tz
sh
Sp
An appraiser is not permitted to be ____________ when performing an
ne
appraisal. - ANS--an advocate
la
sh
Sp
conveys a mental state that does not favor one side over another at the
ne
outset of an investigation is what? - ANS--impartiality
la
tz
sh
Sp
ne
representing the cause or interest of another, even if that cause or interest
does not necessarily coincide with one's own beliefs, opinions, conclusions,
la
or recommendations is what? - ANS--advocacy
sh
Sp
ne
If an appraiser assumes a condition to be true, and evidence supports that
la
tz
belief, although that fact is not certain, this is an example of: - ANS--an
sh
Sp
extraordinary assumption
ne
la
If an appraiser assumes a condition to be true that does not exist for the
sh
Sp
purposes of analysis, this is an example of: - ANS--hypothetical condition
ne
la
tz
The terms extraordinary assumption and hypothetical condition: - ANS--
sh
Sp
Have different meanings within USPAP
ne
la
By using a published cost manual, an appraiser determines that the
sh
Sp
construction cost of a 2,500 square foot dwelling is $400,000. This figure
ne
represents the dwelling's: - ANS--cost
a
tz
l
sh
Sp
"The monetary relationship between properties and those who buy, sell or
ne
use those properties" is the definition of: - ANS--value
la
sh
Sp
la
Sp
