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USPAP Course Exam Questions and Answers
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USPAP Course Exam Questions and Answers
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USPAP Course Exam Questions andAnswers
Does iia ii"jurisdictional iiexception" iiallow iian iiappraiser iito iidisregard iithe iirequirements
iiof iiUSPAP?
Yes iior iiNo ii- iiAnswers ii-Yes
The iiJURISDICTIONAL iiEXCEPTION iiRULE iiprovides iifor iithe iisituation iiin iiwhich iiparts
iiof iiUSPAP iimay iibe iiprecluded iiby iilaw iior iiregulation iiin iicertain iijurisdictions.
The ii______ iiRule iisets iiforth iithe iirequirements iifor iiintegrity, iiimpartiality, iiobjectivity,
iiindependent iijudgement iiand iiethical iicontent. ii- iiAnswers ii-Ethics
In iithe ii__________, iidata iiand iianalyses iiprovided iiby iia iireviewer iito iisupport iia
iidifferent iiopinion iimust iibe iiconsistent iiwith iithe iireporting iistandard. ii- iiAnswers ii-
Appraisal iiReview iiReport
An iiappraiser's iiopinions iiand iiconclusions iideveloped iispecific iito iian iiassignment iiis
iicalled iiwhat? ii- iiAnswers ii-Assignment iiResults
A iimonth iiafter iiyou iisubmit iithe iiappraisal iito iiyour iiclient, iihe iiasks iiyou iito iidiscount
iiyour iifee iibecause iihis iiloan iidid iinot iiclose. iiDoes iiUSPAP iiallow iithis? ii- iiAnswers ii-No
Is iiit iiacceptable iito iireaddress iior iitransfer iia iicompleted iiappraisal iireport? iiyes iior iino ii-
iiAnswers ii-No. ii
Once iia iireport iihas iibeen iiprepared iifor iia iinamed iiclient iior iiclients, iithe iiappraiser
iicannot iireaddress iior iitransfer iithe iireport iito iianother iiparty. iiSimply iichanging iithe
iiclient iiname iion iithe iireport iicannot iichange iior iireplace iithe iioriginal iiappraiser-client
iirelationship. iiTherefore, iithis iiaction iiis iimisleading.
However, iiyou iican iiconsider iithe iirequest iias iia iinew iiassignment. iiIn iiso iidoing, iiyou
iimay iiestablish iia iinew iiappraiser-client iirelationship iiand iiappraise iithe iiproperty iifor
iithis iinew iiclient.
Which iiof iithe iiexamples iibelow iian iiexample iiof ii"substantial iierror iiof iiomission?
.*Omitting iithe iiHighest ii& iiBest iiUse.
, *An iiappraiser iimaking iia iimistake iion iihow iimany iiunits iiare iiin iian iiapartment iicomplex
iihe iiis iivaluing.
*Not iiincluding iithe iiengagement iiletter iiin iithe iiaddenda.
*Including iithe iiwrong iiflood iimap. ii- iiAnswers ii-Omitting iithe iiHighest ii& iiBest iiUse.
What iiRule iimandates iithat iian iiappraiser iimust iihave iia iiworkfile iiin iiexistence iiprior iito
iithe iiissuance iiof iiany iireport iiis iicontained iiin iiwhich iipart iiof iiUSPAP? ii- iiAnswers ii-
Record iiKeeping iiRule
The iiparty iior iiparties iiwho iiengage, iiby iiemployment iior iicontract, iian iiappraiser iiin iia
iispecificassignment iiis iicalled iia ii_____________. ii- iiAnswers ii-Client
Is iiit iitrue iithat iiAdvisory iiOpinions iiare iinot iipart iiof iiUSPAP?
False iior iiTrue ii- iiAnswers ii-True
The iiAdvisory iiOpinions, iiwhich iiare iiincluded iiin iithe iisame iipublication iias iithe iiRules,
iiStandards, iiand iiStatements, iiare iiidentified iias iia iiform iiof iiother iicommunications
iiissued iiby iithe iiAppraisal iiStandards iiBoard ii(ASB). iiJust iilike iiFrequently iiAsked
iiQuestions, iiAdvisory iiOpinions iiare iipublished iito iiillustrate iithe iiapplicability iiof
iiappraisal iistandards iiin iispecific iisituations iiand iito iioffer iiadvice iifrom iithe iiASB iifor iithe
iiresolution iiof iiappraisal iiissues iiand iiproblems.
I iiam iicurrently iiworking iiin iian iiappraisal iifirm iias iia iitrainee. iiAs iipart iiof iimy iitraining iiI
iicontribute iisignificant iireal iiproperty iiappraisal iiassistance iiin iiappraisal iiassignments
iiperformed iiby iiother iiappraisers iiin iithe iifirm, iibut iiI iido iinot iisign iithe iiappraisal iireport
iior iithe iicertification. iiI iiunderstand iithat iimy iiname iimust iibe iistated iiin iithe
iicertification.Must iithe iicertification iiinclude iia iidescription iiof iimy iiassistance?
Yes iior iiNo ii- iiAnswers ii-No.
A iidescription iiof iiyour iiassistance iior iicontribution iito iithe iiassignment iiis iinot iirequired
iiin iithe iicertification.
However, iiin iiaccordance iiwith iiStandards iiRule ii2-2(a)(vii) iiand ii(b)(vii) iithe iiextent iiof
iithe iiassistance iimust iibe iisummarized iior iistated ii(depending iion iithe iireporting iioption
iiused) iiwithin iithe iireport. iiThis iirequired iidisclosure iicould iibe iiincluded iiwithin iithe
iicertification, iibut iiit iicould iialso iibe iiincluded iiin iisome iiother iisection iiof iithe iireport
When iian iiappraiser iimakes iia iiminor iirevision iito iia iicompleted iireport iithat iidoes iinot
iiaffect iithe iivalue, iiwhat iimust iihe iior iishe iido iiwith iithe iieffective iidate iiand iithe iireport
iidate? ii- iiAnswers ii-Revise iithe iireport iidate iibut iileave iithe iieffective iidate iiunchanged.
I iihave iibeen iiasked iiby iia iiclient iito iiprepare iia iiRestricted iiAppraisal iiReport iithat iihe
iiplans iito iiprovide iito iianother iiintended iiuser. iiDoes iiUSPAP iiallow iime iito iiuse iithis
iireport iioption iiin iisuch iia iicircumstance?
Yes iior iino? ii- iiAnswers ii-No. iiThe iiComment iito iiStandards iiRule ii2-2 iistates: iiWhen iithe
iiintended iiusers iido iinot iiinclude iiparties iiother iithan iithe iiclient, iia iiRestricted iiAppraisal
iiReport iimay iibe iiprovided.
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