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USPAP Exam Questions and Answers
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USPAP Exam Questions and Answers
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USPAP Exam Questions and Answersvalue ii- iiAnswers ii-The iimonetary iirelationship iibetween iiproperties iiand iithose iiwho
iibuy, iisell, iior iiuse iithose iiproperties.
TAF ii- iiAnswers ii-The iiAppraisal iifoundation
AQB ii- iiAnswers ii-appraisal iiqualifications iiboard
APB ii- iiAnswers ii-Appraisal iipractice iiboard
Price ii- iiAnswers ii-The iiamount iiasked, iioffered, iior iipaid iifor iia iiproperty
Credible ii- iiAnswers ii-worthy iiof iibelief
cost ii- iiAnswers ii-the iiamount iirequired iito iicreate, iiproduce, iior iiobtain iia iiproperty.
Appraisal iiPractice ii- iiAnswers ii-valuation iiservices iiperformed iiby iian iiindividual iiacting
iias iian iiappraiser, iiincluding iibut iinot iilimited iito iiappraisal iiand iiappraisal iireview.
Appraisal iiReview ii- iiAnswers ii-the iiact iior iiprocess iiof iideveloping iian iiopinion iiabout
iithe iiquality iiof iianother iiappraiser's iiwork iithat iiwas iiperformed iias iipart iiof iian iiappraisal
iior iiappraisal iireview iiassignment; iiof iior iipertaining iito iian iiopinion iiabout iithe iiquality iiof
iianother iiappraiser's iiwork iithat iiwas iiperformed iias iipart iiof iian iiappraisal iior iiappraisal
iireview iiassignment.
Appraiser ii- iiAnswers ii-one iiwho iiis iiexpected iito iiperform iivaluation iiservices
iicompetently iiand iiin iia iimanner iithat iiis iiindependent, iiimpartial, iiand iiobjective.
Client ii- iiAnswers ii-The iiparty iior iiparties iiwho iiengage, iiby iiemployment iior iicontract, iian
iiappraiser iiin iia iispecific iiassignment.
Confidential iiInformation ii- iiAnswers ii-information iithat iiis iieither: ii1. iiidentified iiby iithe
iiclient iias iiconfidential iiwhen iiproviding iiit iito iian iiappraiser iiand iithat iiis iinot iiavailable
iifrom iiany iiother iisource; iior ii2) iiclassified iias iiconfidential iior iiprivate iiby iiapplicable iilaw
iior iiregulation.
, Extraordinary iiAssumption ii- iiAnswers ii-estimated iilength iiof iitime iithat iithe iiproperty
iiinterested iibeing iiappraised iiwould iihave iibeen iioffered iion iithe iimarket iiprior iito iithe
iihypothetical iiconsummation iiof iia iisale iiat iimarket iivalue iion iithe iieffective iidate iiof iithe
iiappraisal.
Hypothetical iiCondition ii- iiAnswers ii-a iicondition, iidirectly iirelated iito iia iispecific
iiassignment, iiwhich iiis iicontrary iito iiwhat iiis iiknown iiby iithe iiappraiser iito iiexist iion iithe
iieffective iidate iiof iiassignment iiresults iibut iiis iiused iifor iithe iipurpose iiof iianalysis.
Scope iiof iiwork ii- iiAnswers ii-they iitype iiand iiextent iiof iiresearch iiand iianalyses iiin iia iin
iiappraisal iior iiappraisal iireview iiassignment.
3 iiparts iiof iistandard ii- iiAnswers ii-performance, iireasonable iicare, iidue iidiligence.
purpose iiof iiEthics iirule ii- iiAnswers ii-an iiappraiser iimust iipromote iiand iipreserve iithe
iipublic iitrust iiinherent iiin iiappraisal iipractice iiby iiobserving iithe iihighest iistandards iiof
iiprofessional iiethics.
Who iienforces iiUSPAP? ii- iiAnswers ii-state iiagencies ii(state iilicense iiboard)
What iiis iithe iipurpose iiof iian iiadvisory iiopinion? ii- iiAnswers ii-to iigive iiadvise
is iiBIAS iiallowed iiin iiUSPAP ii- iiAnswers ii-no, iinever
What iiis iithe iifunction iiof iiinspection? ii- iiAnswers ii-to iidetermine iicondition
when iimust iian iiappraiser iicomply iiwith iiUSPAP? ii- iiAnswers ii-obligated iiby iilaw iior
iiregulation iior iiby iiagreement iiwith iiclient iior iiintended iiuser.
when iiis iiadvocacy iiallowed iiin iiappraisal iipractice? ii- iiAnswers ii-NEVER
the iiparty iior iiparties iiwho iiengage(s) iian iiappraiser ii- iiAnswers ii-the iiclient
hypothetical iicondition ii- iiAnswers ii-assumes iicontrary iito iiknown iifacts
workfile ii- iiAnswers ii-documents iithe iisupport iifor iithe iiappraiser's iiconclusions.
extraordinary iiassumption ii- iiAnswers ii-presumes iias iifact iiotherwise iiuncertain
iiinformation
bias ii- iiAnswers ii-a iipreference iithat iiprecludes iian iiappraiser's iiimpartiality.
valuation iiservices ii- iiAnswers ii-services iipertaining iito iiaspects iiof iiproperty iivalue
appraisal ii- iiAnswers ii-the iiact iiof iiprocess iiof iideveloping iian iiopinion iiof iivalue
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