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National Appraisal USPAP #2: Q&A
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National Appraisal USPAP #2: Q&A
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National Appraisal USPAP #2: Q&AAQB (Appraiser Qualifications Board) Correct Ans - Which of the
following establishes minimum criteria for real property appraiser
certification and licensing
State regulatory agencies and professional appraisal organisations USPAP is
enforced by Correct Ans - USPAP is enforced by
To illustrate the applicability of appraisal standards Correct Ans - Why
are Advisory Opinions issued
It is nonbonding guidance material Correct Ans - Which of the
following best describes a Comment to a Standards Rule?
Extraordinary Assumption Correct Ans - Which one of the following is
an assignment condition?
confidential information Correct Ans - An appraiser has received an
assignment to appraise several collections where only one representative
piece is available to be viewed for each collection. The appraiser has been
advised that the collections are complete. the appraiser agrees to perform the
assignment. The report MUST include the disclosure of the use of:
only valuation services that include an appraisal services that includes an
appraisal or appraisal review Correct Ans - Appraisal practice is
defined as:
competency of the appraiser Correct Ans - Credibility is judged in the
context of the:
client Correct Ans - The party or parties who engages an appraiser in a
specific assignment defines the:
Personal Property Correct Ans - A tangible object that is NOT real
estate is:
, Hypothetical Condition Correct Ans - That which is contrary to what is
known by the appraiser to exist on the effective date of the assignment
results, but is supposed for the purpose of analysis is:
promote and maintain a high level of public trust Correct Ans - The
purpose of USPAP is to:
Impartiality, objectivity, and independence without the accommodation of
personal interests Correct Ans - An appraiser must perform
assignments with:
disclose the prior service to the client and in the report certification
Correct Ans - An appraiser has been asked to appraise a property. IF the
appraiser has performed any service relating to the property within a three-
year period immediately preceding agreeing to perform the assignment, the
appraiser must:
refuse to perform the assignment because the appraiser must have the
knowledge to prior to agreeing to perform the assignment Correct Ans -
Prior to agreeing to perform any apprasieral assignment required specific
knowledge the appraiser lacks, the appraiser must
work with another appraiser with experience in this property type
Correct Ans - Prior to completing an assignment for which he or she does
not have the necessary knowledge and experience, an appraiser engaged to
appraise a specific type of property MUST:
takes place at the beginning of an assignment and does not change Correct
Ans - determining the the scope of work:
research, analysis, and reporting Correct Ans - The SCOPE OF WORK
RULE addresses the type and extent of:
credible Correct Ans - Assignment condition must not limit the scope
of work to such a degree that the assignment results are not:
performed Correct Ans - The appraiser must disclose the scope of
work:
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