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USPAP Hour National USPAP Course Exam Questions and Answers
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USPAP Hour National USPAP Course Exam Questions and Answers
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USPAP 2024-2025 7 Hour NationalUSPAP Course Exam Questions and
Answers
An iiappraiser iiis iideveloping iia iimarket iivalue iiopinion iion iia iiproperty iithat iimay iihave
iienvironmental iicontamination, iialthough iithe iicontamination iistatus iiis iiuncertain. iiThe
iiappraiser iiuses iian iiextraordinary iiassumption iito iivalue iithe iiproperty iias iiif
iiuncontaminated. iiIn iithe iiappraisal iireport iiprepared iifor iithis iiassignment, iimust iithe
iiappraiser iiuse iithe iilabel ii"Extraordinary iiAssumption?" ii- iiAnswers ii-USPAP iidoes iinot
iirequire iithe iiuse iiof iithe iilabel ii"extraordinary iiassumption" iior ii"hypothetical iicondition,"
iialthough iithe iiuse iiof iisuch iilabels iimay iibe iihelpful iiin iienabling iiintended iiuser
iiunderstanding.
The iiterm ii"person(s)" iiwhich iiappears iiin iithe iiNondiscrimination iisection iiof iithe
iiETHICS iiRULE, iiincludes: ii- iiAnswers ii-
Which iistatement iiis iiTRUE iiregarding iiSTANDARD ii6, iiwhich iiaddresses iireporting iiof
iimass iiappraisals? ii- iiAnswers ii-
An iiappraiser iimakes iia iipersonal iiinspection iiof iia iiproperty iion iiFebruary ii11th,
iidevelops iia iivalue iiconclusion, iiand iiprovides iian iioral iireport iiof iithe iiproperty's iivalue
iion iiMarch ii5th. iiOn iiMarch ii10th, iithe iiappraiser iiwrites iiup iia iisummary iiof iithe iioral
iireport iiand iia iicertification iiand iiinserts iithem iiin iithe iiworkfile. iiWhat iiis iithe iidate iiof
iireport iifor iithis iiassignment? ii- iiAnswers ii-
JT iiis iian iiappraiser iiand iia iiconsultant, iiand iiis iiengaged iiby iian iiattorney iito iiprovide
iilitigation iisupport iiin iian iiadvocacy iirole. iiJT iihas iinot iibeen iiasked iito iiperform iian
iiappraisal iior iiappraisal iireview iiassignment; iirather, iithe iiattorney iiwants iiJT, iias iia
iiconsultant, iito iiassist iiin iiframing iiquestions iifor iicross-examination iiof iian iiappraiser.
iiWhat iiare iiJT's iiUSPAP iiobligations iiwhen iiperforming iiin iithis iirole? ii- iiAnswers ii-
Eleven iimonths iiago, iian iiappraiser iicompleted iian iiappraisal iiof iia iicommercial
iiproperty, iiand iithe iiscope iiof iiwork iifor iithis iiassignment iiincluded iia iipersonal
iiinspection. iiToday, iithe iiappraiser iiis iiengaged iiby iia iidifferent iiclient iito iiperform
iianother iiappraisal iion iithis iiproperty. iiThe iiclient iitells iithe iiappraiser iithat iithe iiproperty
iihas iinot iimeaningfully iichanged iiduring iithe iilast iiyear iiand iiinstructs iithe iiappraiser iito
,iiuse iiinformation iifrom iithe iiprior iiinspection iiand iinot iimake iia iinew iiinspection iiof iithe
iiproperty. iiDoes iiUSPAP iipermit iithe iiappraiser iito iicertify iiin iithe iinew iiassignment
iireport iithat iithey iimade iia iipersonal iiinspection iiof iithe iisubject iiproperty? ii- iiAnswers ii-
An iiappraiser iihas iibeen iiengaged iito iivalue iia iiresidential iiproperty iifor iia iilarge
iimortgage iilender. iiThe iiclient iiengaged iia iiprofessional iiproperty iiinspector iito iivisit iithe
iiproperty. iiThe iiinspector iisent iithe iiappraiser iia iidetailed iireport iithat iiincluded iia iifloor
iiplan, iivideo iiclips, iiand iihigh-definition iiphotographs iiof iievery iiroom iiin iithe iidwelling.
iiThe iiappraiser iireviews iithis iimaterial iicarefully iiand iidevelops iian iiopinion iiof iivalue. iiIn
iithe iiappraisal iireport iiprepared iifor iithis iiassignment, iimay iithe iiappraiser iicertify iithat
iithey iimade iia iipersonal iiinspection iiof iithe iisubject iiproperty? ii- iiAnswers ii-
A iiproperty iithat iiis iithe iisubject iiof iian iiappraisal iiassignment iiwas iigifted iifrom
iigrandparents iito iigrandchild ii30 iimonths iipreviously. iiIs iithe iiappraiser iirequired iito
iianalyze iithis iiprior iitransfer iiof iithe iisubject iiproperty? ii- iiAnswers ii-
Appraiser iiD iiperforms iian iiappraisal iifor iian iiattorney iifor iiuse iiin iilitigation. iiAfter
iiAppraiser iiD iidelivers iithe iireport, iithe iiemploying iiattorney iiforwards iia iicopy iiof iithe
iiappraisal iireport iiperformed iiby iithe iiother iiside's iiappraiser ii(Appraiser iiX) iito iiAppraiser
iiD. iiThe iiattorney iiasks iiAppraiser iiD iito iiread iithe iireport iiand iifind iiall iithe iiholes iiand
iiproblem iiareas iiwhich iiwill iienable iithe iiattorney iito iidiscredit iiit iion iicross-examination.
iiIs iiAppraiser iiD iipermitted iiby iiUSPAP iito iido iithis? ii- iiAnswers ii-
The iiASB iiadded iia iiNondiscrimination iisection iito iithe iiETHICS iiRULE iifor ii2024. iiWhat
iiwas iithe iireason iiwhy iithe iiASB iitook iithis iiaction? ii- iiAnswers ii-
An iiappraiser iiis iivaluing iia iiproperty iithat iiis iizoned iiR-1 iiResidential. iiThe iiappraiser
iidecides iito iivalue iithe iiproperty iiunder iithe iiextraordinary iiassumption iithat iithe iiproperty
iiis iizoned iito iiallow iicommercial iiuse. iiMay iithe iiappraiser iicomplete iithis iiassignment
iiusing iithis iiextraordinary iiassumption iias iiplanned? ii- iiAnswers ii-
According iito iithe iiPREAMBLE, iiUSPAP iiis iipromulgated iifor: ii- iiAnswers ii-
An iiappraiser iiis iivaluing iia iiresidential iiproperty. iiAs iipart iiof iithe iiscope iiof iiwork, iithe
iiappraiser iipersonally iiviews iithe iiexterior iiof iithe iidwelling iifrom iithe iistreet iibut iidoes
iinot iiactually iiset iifoot iion iithe iiproperty. iiIn iitheir iiappraisal iireport, iishould iithe
iiappraiser iicertify iithat iithey iimade iia iipersonal iiinspection iiof iithe iisubject iiproperty? ii-
iiAnswers ii-
An iiappraiser iidevelops iian iiappraisal iion iia iiproperty iiand iiprovides iian iioral iia iireport iito
iithe iiclient. iiThe iiclient iirecords iithe iioral iireport iiand iilater iiproduces iia iitranscription iiof
iithe iireport. iiThe iiclient iiprovides iia iicopy iiof iithis iitranscription iiof iithe iioral iireport iito iia
iithird iiparty. iiDoes iithat iithird iiparty iibecome iian iiintended iiuser iias iia iiresult iiof iireceiving
iithis iitranscription? ii- iiAnswers ii-
,In iideveloping iian iiappraisal iiof iia iivacant iiland iiproperty, iian iiappraiser iiuses iian
iiextraordinary iiassumption. iiIn iithe iiAppraisal iiReport iiprepared iifor iithe iiassignment,
iithe iiappraiser iiclearly iiand iiconspicuously iidiscloses iithe iiuse iiof iithe iiextraordinary
iiassumption. iiDoes iiUSPAP iirequire iithe iiappraiser iito iimeet iiany iiadditional iireporting
iirequirements iiassociated iiwith iithe iiuse iiof iithis iiextraordinary iiassumption? ii- iiAnswers
ii-
Appraiser iiA iiis iivaluing iia iiproperty iifor iia iiresidential iilending iitransaction, iiand iithe
iiappraiser iidetermines iithat iithe iiFair iiHousing iiAct iiand iiECOA iiare iiapplicable iito iithe
iiassignment. iiUnder iiwhat iicircumstance iiwould iithe iiappraiser iibe iipermitted iiby
iiUSPAP iito iiuse iior iirely iion iian iiotherwise iiprotected iicharacteristic iiin iithe iidevelopment
iiof iithis iiappraisal? ii- iiAnswers ii-
An iiappraiser iivalues iia iiresidential iiproperty iifor iia iimortgage iilender. iiIn iiaccordance
iiwith iifederal iilaw, iithe iilender iiprovides iia iicopy iiof iithe iiappraisal iireport iito iithe
iiborrower. iiDoes iithe iiborrower iibecome iian iiintended iiuser iias iia iiresult iiof iireceiving
iithis iireport iicopy? ii- iiAnswers ii-
Which iiof iithese iifederal iilaws iiis iispecifically iireferenced iiin iithe iiNondiscrimination
iisection iiof iithe iiETHICS iiRULE? ii- iiAnswers ii-
A iiresidential iiappraiser iiagrees iito iiperform iian iiappraisal iion iireal iiproperty iifor
iimortgage iilending, iifor iian iiFHA-insured iiloan. iiThe iiappraiser iiis iiengaged iiby iian
iiappraisal iimanagement iicompany ii(AMC). iiWho iiis iiresponsible iifor iidetermining iiwhat
iiantidiscrimination iilaws iiapply iito iithe iiassignment? ii- iiAnswers ii-
A iinon-appraiser iisends iia iicomment iiletter iito iithe iiASB iiregarding iia iiproposed iichange
iito iiUSPAP. iiWhat iiwill iihappen iiwith iithis iiletter? ii- iiAnswers ii-
Effective iiDates iiof iiUSPAP ii- iiAnswers ii-Between ii2008 iiand ii2020, iiUSPAP iiwas iion iia
iitwo-year iirevision iicycle. iiFor iiappraisers iiwho iihave iientered iithe iiprofession iisince
ii2008, iiit iimay iibe iisurprising iito iilearn iithat iithis iiwas iinot iialways iithe iicase. iiMany
iieditions iiof iiUSPAP iiwere iionly iieffective iifor iione iiyear; iiothers iiwere iieffective iifor ii18
iimonths.
Who iidetermines iithe iieffective iidate iifor iieach iiUSPAP ii- iiAnswers ii-The iiASB
iidetermines iithe iieffective iidate iithat iiis iimost iiappropriate iifor iieach iiedition iiof iiUSPAP
iiit iiadopts. iiThe iilength iiof iitime iian iiedition iiis iieffective iihas iichanged iinumerous iitimes
iiover iithe iiyears.
The iinew iiedition iiof iiUSPAP iihas iibeen iireleased. iiWhich iistatement iiis iitrue iiregarding
iithe iieffective iidate iiof iithis iinew iiedition iiof iiUSPAP? ii- iiAnswers ii-The iiASB iidetermines
iiwhen iithe iiedition iiof iiUSPAP iiwill iibe iieffective.
The iiending iieffective iidate iifor iithe ii2024 iiedition iiof iiUSPAP iiis: ii- iiAnswers ii-To iibe
iidetermined
, USPAP iiAdvisory iiOpinions iiare iiconsidered iiby iithe iiASB iito iibe: ii- iiAnswers ii-Other
iicommunications, iiand iinot iipart iiof iiUSPAP
Why iiand iiHow iiChanges iiare iiMade ii- iiAnswers ii-Changes iito iiUSPAP iireflect iithe
iicurrent iistandards iiof iithe iiprofession; iiimprove iithe iiclarity, iiunderstanding, iiand
iienforceability iiof iiUSPAP; iiand iipromote iiand iimaintain iipublic iitrust iiin iiappraisal
iipractice.
The iiprocess iiof iirevising iiUSPAP iiis iiregimented iiand iitransparent. iiThere iiis iiample
iiopportunity iifor iistakeholders iiand iithe iipublic iito iiparticipate iiin iithe iiprocess iiand
iiprovide iifeedback.
Here iiis iia iigeneral iioutline iiof iithe iiprocess. iiThe iiASB... ii- iiAnswers ii-...develops iiand
iireleases iidrafts iifor iipublic iiexposure
...reads iiand iianalyzes iithe iicomments iireceived
...adopts iichanges iito iiUSPAP
Exposure iiDrafts ii- iiAnswers ii-All iiproposed iichanges iito iiUSPAP iiare iipublished iiin
iidocuments iicalled iiexposure iidrafts; iithese iiare iiformal iiproposals iiby iithe iiASB iito
iirevise iiUSPAP. iiThese iidrafts iiare iiposted iion iithe iiFoundation's iiwebsite iiand iinotice iiis
iisent iito iiappraisers iiand iiother iiinterested iiparties.
The iiexposure iiperiod iifor iia iidraft iiis iinever iiless iithan ii30 iidays iiand iiis iioften ii45-60
iidays iiafter iithe iidistribution iidate, iiunless iithe iiASB iispecifies iiotherwise. iiFor
iiinformation iion iihow iito iirespond iito iian iiexposure iidraft, iivisit iithe iiFoundation's iiwebsite
iiat iiwww.appraisalfoundation.org.
Sometimes iithe iiASB iiwill iiissue iia iidiscussion iidraft iiwhich iiis iiintended iito iisolicit
iifeedback iifrom iiindustry iiparticipants iiand iiothers iiregarding iiissues iithe iiASB iimight
iiaddress iiin iiUSPAP. iiThese iidiscussion iidrafts iido iinot iicontain iiany iiproposed iichanges
iito iiUSPAP.
Nevertheless, iithe iiresponses iireceived iito iithese iidiscussion iidrafts iiare iiinstrumental iiin
iithe iiASB's iidecision-making iiprocess. iiMany iiof iithese iisuggestions iifrom iistakeholders
iisubsequently iibecome iipart iiof iiexposure iidrafts.
Analysis iiof iiComments iiReceived ii- iiAnswers ii-The iiFoundation iistaff iireceives iiall
iiwritten iicomments iion iithe iiexposure iidrafts iiand iiretains iithem iipermanently.
Each iimember iiof iithe iiASB iireads iiand iivalues iiall iicomments. iiASB iimembers iifocus
iion iithe iireasoning iiand iiinsight iipresented iiin iithe iicomments, iirather iithan iithe iisource
iior iiauthor. iiThe iiASB iiimpartially iiconsiders iiall iicomments iiand iiis iiguided iiby iithe
iiquality, iirelevancy, iiand iiaccuracy iiof iithe iipoints iimade, iinot iitheir iifrequency.
Often, iia iistakeholder iicomment iimay iiprovide iiinsight iibeyond iiwhat iiit iioriginally
iiproposed iior iistimulate iidiscussion iithat iimay iilead iithe iiASB iiin iia iidifferent iidirection.
If iithe iiASB's iireview iiof iithe iifeedback iiresults iiin iia iifundamental iichange iiin iidirection
iifrom iithe iioriginal iiexposure iidraft, iiadditional iiexposure iidrafts iiare iiissued iias iineeded.
For iiexample, iithe iichanges iito iiUSPAP iifor iithe ii2024 iiedition iiwere iiadopted iibased iion
iithe iiFifth iiExposure iiDraft. iiThe iifact iithat iiseveral iiexposure iidrafts iiwere iiissued iiclearly
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