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USPAP Practice Test Exam 2024 BUNDLE With Correct Answers_.pdf
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8/20/24, 5:29 PMUSPAP Practice Test
Jeremiah
Terms in this set (100)
The PREAMBLE states the purpose of USPAP trust
is to maintain public ___ in the appraisal
practice by establishing requirements for
appraisers.
USPAP benefits providers of appraisal users of appraisal services.
services and
Which is NOT considered significant real collecting employment data for use in analysis
property appraisal assistance?
A valuation service performed by an inquire about the intended user's expectations.
individual acting as an appraiser requires the
appraiser to
When an individual is performing valuation not misrepresent his role.
services outside of appraisal practice, that
individual must be careful to
When choosing to provide a valuation maintain public trust.
service as an appraiser or in some other
capacity, great care must be taken to
A real property appraiser teaching appraisal appraisal practice with no applicable Standards (1-10).
is engaged in
A lender has telephoned an appraiser to appraisal practice with no performance standards or record keeping requirements.
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
In accordance with USPAP, which is NOT an holding a state license or certification
expectation when acting in the role of an
USPAP Practice Test
appraiser?
1/9
, 8/20/24, 5:29 PM
Compliance with USPAP is required when agreement, law, or regulation.
obligated by
When an appraiser is providing a service RECORD KEEPING RULE
other than an appraisal or appraisal review,
which would NOT apply?
Zachary's client instructs him to report a is a violation of the ETHICS RULE.
specific property value as a condition of the
assignment. The assignment
Which of these activities does the Conduct criminal conduct
section of the ETHICS RULE prohibit?
Jack appraised a residential dwelling that is no, omitting the discussion could produce a misleading report
located across the street from a factory that
he determined is negatively affecting the
value of the subject property. Jack applied a
location adjustment in his sales comparison
approach. However, the client asked that the
factory not be discussed in the appraisal
report. Since Jack addressed the condition
with an adjustment, has he complied with
USPAP?
Anthony received an appraisal assignment make proper disclosure regarding the prior assignment
for a property that was previously appraised
by him. He understands that be must handle
confidential information appropriately. What
else must Anthony do?
Marcus was hired to appraise a home that be yes, as long as he discloses the previous service on the property to the client and in the
had previously appraised one year ago. May subsequent report certification
Marcus accept the assignment?
A real property appraiser has paid a fee to in the certification and any transmittal letter
procure an appraisal assignment. According
to the Management section of the ETHICS
RULE, where must the fee be disclosed?
Josh received an appraisal request from a no, an appraiser may not accept an assignment with unacceptable assignment
lender-client who told him, to immediately conditions
call if the value on the property is less than
the amount stipulated by the lender, as he
doesn't intend to pay for an appraisal that
won't benefit his position. Will acceptance of
this assignment be in compliance with
USPAP?
Which of the following would NOT be fee based on the volume of total business from a particular client
considered an unacceptable fee
arrangement?
According to the Management section of certify recognition and acceptance of USPAP responsibilities
the ETHICS RULE, an appraiser affixes his or
her signature in an assignment for what
purpose ?
2/9
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