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MCKISSOCK USPAP CHAPTER 1 QUESTIONS AND ANSWERS 2025
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USPAP Provides... - 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 profess...

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  • November 3, 2024
  • 3
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • mckissock uspap chapter 1 questions and answers 20

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MCKISSOCK USPAP CHAPTER 1 QUESTIONS
AND ANSWERS 2025
USPAP,Provides...,-,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,pe
rformed,by,professional,appraisers


USPAP,Stands,for,-,ANSWER,Uniform,Standards,of,Professional,Appraisal,Practice


Year,Appraisal,Foundation,formed,-,ANSWER,1987


3,Boards,of,Appraisal,Foundation,-,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,-
,ANSWER,It,achieves,legal,authority,by,adoption,,citation,,or,implementation,by,government,age
ncies,through,regulation,or,administrative,actions,,or,by,private,enterprise,in,the,form,of,contrac
t,requirements.


Functions,of,the,Board,of,Trustees,(BOT),-,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

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