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USPAP EXAM -ACTUAL EXAM LATEST UPDATE THIS
YEAR WITH PRACTICE EXAM COMPLETE 400
QUESTIONS AND CORRECT ANSWERS JUST
RELEASED
USPAP exam -ACTUAL EXAM
QUESTION: What must an individual, who is not acting in the role of an appraiser, do when
performing a valuation service that is outside the appraisal practice?
Identify the service as consulting.
Comply with all applicable sections of USPAP.
Not misrepresent the capacity of his or her services.
Not use any appraisal knowledge or expertise in the service. - ANSWER-Not misrepresent the
capacity of his or her services.
QUESTION: What organization sets the Congressionally authorized standards and qualifications
for real estate appraisers?
Federal Financial Institutions Examinations Council
The Appraisal Foundation
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Appraisal Subcommittee
Ad-Hoc Committee - ANSWER-The Appraisal Foundation
QUESTION: An appraiser agrees to perform an assignment and soon realizes that she previously
performed a valuation service involving the property within the last three years. What is the
appraiser's first obligation?
Withdraw from the assignment.
The appraiser has no disclosure obligation because she didn't perform an appraisal in the prior
service.
Inform the client of the prior service that she performed.
Provide the client with information about the prior service including a copy of the valuation
service performed. - ANSWER-Inform the client of the prior service that she performed.
QUESTION: When is a fee connected with the procurement of an appraisal assignment
unethical?
when it is undisclosed
under all circumstances
none of these answers
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when it is paid by the client - ANSWER-when it is undisclosed
QUESTION: In a real property assignment, when a reviewer co-signs an appraisal of an appraiser
she supervises, what USPAP Standard(s) does the appraiser's work fall under?
STANDARDS 7 and 8
STANDARDS 1 and 2
STANDARDS 3 and 4
STANDARDS 9 and 10 - ANSWER-STANDARDS 1 and 2
QUESTION: An attorney directly engages an appraiser for a valuation service in order to better
control discovery issues for the attorney's client. How would an appraiser normally identify the
client in this assignment?
The appraiser should identify the attorney as the client.
The appraiser should identify the property owner as the client and sole intended user.
The appraiser should identify the owner as the client and the attorney as an agent for the
client.
The appraiser should identify the attorney and the property owner as co-clients. - ANSWER-The
appraiser should identify the attorney as the client.
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