McKissock USPAP Chapter 1 Question and answers already passed

McKissock USPAP Chapter 1 Question and answers already passed McKissock USPAP Chapter 1 USPAP Provides... - correct answer 1. A common basis for comparison 2. A reference source for all users of the document 3. A basis for uniform enforcement for state regulatory agencies 4. A reason for clients, other intended users, and the public to place their trust in the services performed by professional appraisers USPAP Stands for - correct answer Uniform Standards of Professional Appraisal Practice Year Appraisal Foundation formed - correct answer 1987 3 Boards of Appraisal Foundation - correct answer - Board of Trustees (BOT) - The Appraiser Qualifications Board (AQB) - The Appraisal Standards Board (ASB) - Appraisal Practices Board (APB) How does USPAP achieve legal authority - correct answer It achieves legal authority by adoption, citation, or implementation by government agencies through regulation or administrative actions, or by private enterprise in the form of contract requirements. Functions of the Board of Trustees (BOT) - correct answer -Appoints Members to the APB, AQB, and ASB -Secures funding for TAF operations -Monitors performance and oversight of TAF and its three boards (APB, AQB, and ASB) and three Advisory councils