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15-hr National USPAP Course Exam Questions and Answers
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15-hr National USPAP Course Exam Questions and Answers
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15-hr National USPAP Course ExamQuestions and Answers
Who iiis iiresponsible iifor iiissuing iicredentials iito iiindividual iiappraisers? ii- ii iiAnswers-
State iiappraiser iiregulatory iiagencies iiare iiresponsible iifor iireceiving iiand iiprocessing
iiapplications iifor iilicensure iiand iicertification, iiand iifor iiissuing iicredentials iito iiqualified
iiindividuals.
Which iiis iiNOT iia iiresponsibility iiof iithe iiAppraisal iiSubcommittee ii(ASC)? ii- ii iiAnswers-
USPAP iiis iiwritten, iiinterpreted, iiand iiamended iiby iithe iiAppraisal iiStandards iiBoard
ii(ASB). iiThe iiother iianswers iilisted iiare iiall iiresponsibilities iiof iithe iiASC.
USPAP iiis iienforced iiby: ii- ii iiAnswers-The iiresponsibility iiof iienforcing iiUSPAP iiis
iiprovided iito iithe iiindividual iistate iiappraiser iilicensing iiand iicertification iiagencies.
The iiUSPAP iiBlueprint ii- ii iiAnswers-The iiPREAMBLE iidescribes iithe iioverall iipurpose
iiand iistructure iiof iiUSPAP.
The iiPREAMBLE iiincludes iia iisection iititled iiSTATEMENTS iiON iiAPPRAISAL
iiSTANDARDS. iiStatements iiare iinot iiaddressed iiin iithis iicourse iisince iithere iiare
iicurrently iino iiactive iiStatements.
The iiDEFINITIONS iisection iicontains iiterms iithat iihave iidistinct iimeanings iiin iiUSPAP.
The iiETHICS iiRULE iidescribes iithe iigeneral iiethical iirequirements iifor iiappraisers.
The iiRECORD iiKEEPING iiRULE iidefines iiwhat iimust iibe iiincluded iiin iia iiworkfile iifor iian
iiappraisal iior iiappraisal iireview iiassignment.
The iiCOMPETENCY iiRULE iidescribes iigeneral iiperformance iirequirements iifor
iiappraisers.
The iiSCOPE iiOF iiWORK iiRULE iielaborates iion iiproblem iiidentification, iidetermination
iiof iian iiappropriate iiscope iiof iiwork, iiand iidisclosure iiof iithe iiscope iiof iiwork iithat iiwas
iiperformed.
The iiJURISDICTIONAL iiEXCEPTION iiRULE iirecognizes iithat iilaws iior iiregulations iitake
iiprecedence iiover iiUSPAP iiin iicertain iisituations.
The iiUSPAP iiBlueprint, iiPart iiTwo ii- ii iiAnswers-STANDARD ii1 ii- iiReal iiProperty
iiAppraisal, iiDevelopment
STANDARD ii2 ii- iiReal iiProperty iiAppraisal, iiReporting
, STANDARD ii3 ii- iiAppraisal iiReview, iiDevelopment
STANDARD ii4 ii- iiAppraisal iiReview, iiReporting
STANDARD ii5 ii- iiMass iiAppraisal, iiDevelopment
STANDARD ii6 ii- iiMass iiAppraisal, iiReporting
STANDARD ii7 ii- iiPersonal iiProperty iiAppraisal, iiDevelopment
STANDARD ii8 ii- iiPersonal iiProperty iiAppraisal, iiReporting
STANDARD ii9 ii- iiBusiness iiAppraisal, iiDevelopment
STANDARD ii10 ii- iiBusiness iiAppraisal, iiReporting
Which iiof iithese iiis iiconsidered iian iiintegral iipart iiof iiUSPAP iiand iihas iithe iisame iiweight
iias iithe iicomponents iithey iiaddress? ii- ii iiAnswers-Comments iiare iian iiintegral iipart iiof
iiUSPAP iiand iihave iithe iisame iiweight iias iithe iicomponents iithey iiaddress. iiAdvisory
iiOpinions, iiUSPAP iiQ ii& iiAs iiand iiUSPAP iiFAQs iiare iiconsidered ii"other
iicommunications."
In iiUSPAP, iithe iiappraisal iiprocess iiis iidivided iiinto iitwo iidistinct iitypes iiof iiactivity:
ii_________ iiand ii__________. ii- ii iiAnswers-In iiUSPAP, iithe iiappraisal iiprocess iiis
iidivided iiinto iitwo iidistinct iitypes iiof iiactivity: iidevelopment iiand iireporting.
Advisory iiOpinions iiare iibest iidescribed iias ii- ii iiAnswers-Advisory iiOpinions iiand
iiFrequently iiAsked iiQuestions iiare iiadditional iireference iimaterials iithat iiprovide
iiguidance iionly iiand iiillustrate iiappraisal iistandards iiand iioffer iiadvice.
The iirequirement iifor iiUSPAP iicompliance iiin iian iiappraisal iiassignment iicould iibe iithe
iiresult iiof: ii- ii iiAnswers-The iirequirement iito iicomply iiwith iiUSPAP iicould iibe iitriggered
iiby iilaw, iiregulation, iiagreement iiwith iithe iiclient, iior iithe iiappraiser's iichoice.
"The iimonetary iirelationship iibetween iiproperties iiand iithose iiwho iibuy, iisell iior iiuse
iithose iiproperties" iiis iithe iidefinition iiof: ii- ii iiAnswers-Value iiis iidefined iiin iiUSPAP iias
iithe iimonetary iirelationship iibetween iiproperties iiand iithose iiwho iibuy, iisell iior iiuse
iithose iiproperties, iiexpressed iias iian iiopinion iiof iithe iiworth iiof iia iiproperty iiat iia iigiven
iitime.
Appraisal iipractice iiincludes iionly: ii- ii iiAnswers-Appraisal iipractice iiis iidefined iias:
iivaluation iiservices iiperformed iiby iian iiindividual iiacting iias iian iiappraiser, iiincluding iibut
iinot iilimited iito iiappraisal iiand iiappraisal iireview.
A iireal iiestate iibroker iicompletes iia iiComparative iiMarket iiAnalysis ii(CMA) iion iia
iiproperty iithat iishe iiwants iito iilist iifor iisale. iiWhat iiwould iithis iibe iiconsidered? ii- ii
iiAnswers-A iivaluation iiservice
A iikey iidistinction iibetween iiappraisal iipractice iiand iiother iitypes iiof iivaluation iiservices
iiis iithat iionly iiappraisers iiconduct iiappraisal iipractice. iiThe iibroker iiis iinot iiproviding iithis
iiservice iias iian iiappraiser; iitherefore, iiit iiis iinot iipart iiof iiappraisal iipractice.
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