USPAP exam package 2023 -completely solved questions

The Appraisal Foundation has the authority to enforce the requirements of USPAP. False; The Appraisal Foundation is a private entity. The Foundation and its boards have no enforcement authority in any jurisdiction. Which Foundation board is responsible for USPAP? Appraisal Standards Board (...

The Appraisal Foundation has the authority to enforce the requirements of USPAP. False Currently, the boards within the Appraisal Foundation include: Appraisal Standards Board, Appraisal Qualifications Board, Board of Trustees 00:04 01:36 Which Foundation board is responsib...

Financial chaos began in the US during the 1929 stock market crash after the great depression In the 1950s-70s double continued with -Works related areas -Property taxation -Federal housing programs 00:32 01:36 1990s trouble was because of... Mortgage scams and illegal h...

The Preamble states that USPAP is for appraisers and users of appraisal services. The stated purpose of USPAP Promote and maintain a high level of public trust in appraisal practice. 00:20 01:36 When obligated by law or regulation an appraiser must comply with USPAP. ...

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 D) Trust USPAP benefits providers of appraisal services and a. the Ap...

The PREAMBLE states the purpose of USPAP is to maintain public ___ in the appraisal practice by establishing requirements for appraisers. trust USPAP benefits providers of appraisal services and users of appraisal services. 00:02 01:36 Which is NOT considered significant re...

Different appraisal regulations among states. Which is not one of the contributing factors that led to a need for regulation in the appraisal profession? Appraisal Subcommittee (ASC) Responsible for the Federal oversight of state real estate licensing and certification TRUE (T/F) Th...

The boards within the Appraisal foundation include Appraisal standards board, appraisal qualificatioms board, appraisal practices board, board of trustees Which independent board was created within the appraisal foundation in 2010 Appraisal practices board APB Does the appraisal foun...

Which is not an element of problem identification? -assignment conditions -effective date of the opinions and conclusions -client and other intended users -reporting option to be used in the assignment Reporting option to be used in the assignment Most of the information necessary for th...

AQB establishes minimum education, experience, etc. for certification of real property appraisers and supervisors ASB revises and promulgates USPAP; responsible for subject, content, and substance of USPAP 00:24 01:36 Appraisal Subcommittee operations are funded by state c...

Standards 1-10 Address value, not price Advisory Opinions Are issued to illustrate the applicability of appraisal standards in specific situations and to offer advice from the ASB for the resolution of appraisal issues and problems. Appraisal Practice Performed only by the appraiser...

An Appraiser must retain a workfile for" Any assignment that is covered by standard rules. 5 years after preparation or at least 2 years after final disposition of judicial proceedings in which testimony was given, whichever period expires last. According to STANDARD 3, an appraiser perf...

An appraiser must prepare a workfile for: Appraisal & Appraisal review assignments only STANDARD 1 requires an appraiser to: ... The Management section of the ETHICS RULE prohibits: ... USPAP includes ... What government is not Federal ... The scope of work is...

Assignment conditions include: a. The length of time given to the appraiser to complete the assignment b. The amount of the appraiser's fee c. Laws and regulations that affect the assignment d. All of the answers listed Appraisers are permitted by USPAP to disclose confidential informati...