USPAP Practice Exam Questions With
Verified Answers.
The PREAMBLE states the purpose of USPAP is
to promote and maintain a high level of public _____
in appraisal practice by establishing requirements for appraisers.
A) Awareness
B) Recognition
C) Support
D) Trust - answer✔D) Trust
USPAP benefits providers of appraisal services and
a. the Appraisal Standards Board.
b. disinterested parties.
c. federal officials.
d. users of appraisal services. - answer✔D) Users of appraisal services
When acting in the role of an appraiser, all of the following require compliance with all sections
of USPAP, including the applicable STANDARDS 1 through 10, EXCEPT for
a. appraisal.
b. appraisal consulting.
c. appraisal course development.
d. appraisal review. - answer✔C) Appraisal course development
A valuation service performed by an individual acting as an appraiser requires the appraiser to
a. hold a valid appraiser credential.
b. inquire about the intended user's expectations.
c. keep confidential the capacity in which he is performing.
d. not be impartial in respect to the client. - answer✔B) Inquire about the intended user's
expectations.
When an individual is performing valuation services outside of appraisal practice, that individual
must be careful to
a. charge a fee for his service.
b. invoke jurisdictional exception.
c. not misrepresent his role.
d. refer to the party engaging him as "the client:' - answer✔C) Not misrepresent his role
When choosing to provide a valuation service as an appraiser or in some other capacity, great
care must be taken to
a. charge a fee accordingly.
b. keep that capacity confidential.
c. maintain public trust.
d. not violate the obligations of an Advisory Opinion. - answer✔C) Maintain public trust
A real property appraiser teaching appraisal is engaged in
a. appraisal consulting services.
b. appraisal review.
c. appraisal practice with no applicable Standards (1-10).
d. valuation service outside of appraisal practice. - answer✔C) Appraisal practice with no
applicable Standards (1-10)
A lender has telephoned an appraiser to determine the high and low sales prices in the past year
that took place in the Green Hills Subdivision. No mention was made of a subject property by the
lender. The appraiser has supplied a list of all of the sales within the past year in the subdivision
and billed the lender for service. The service being provided by the appraiser is
a. appraisal practice with performance and record keeping obligations.
b. appraisal practice with no performance standards or record keeping requirements.
c. an appraisal that must be developed by 1:he applicable Standard.
d. not permitted by USPAP. - answer✔B) Appraisal practice with no performance standards or
record keep requirements
In accordance with USPAP, which is NOT tin expectation when acting in the role of an
appraiser?
a. adhering to the definition of appraiser
b. holding a state license or certification
c. maintaining public trust
d. meeting expectations of clients and other intended users when an appraiser is identified -
answer✔B) Holding a state license or certification
Compliance with USPAP is required when obligated by
a. agreement only.
b. law only.
c. regulation only.
d. agreement, law, or regulation. - answer✔D) Agreement, law, or regulation
When an appraiser is providing a service other than an appraisal, appraisal review, or an
appraisal consulting service, which would NOT apply?
a. DEFINITIONS
b. JURISDICTIONAL EXCEPTION RULE
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