USPAP 15-HOUR COURSE EXAM Questions
with 100% CORRECT SOLUTIONS Latest
Updates 2024 GRADED A+ FOR EXCELLENT
PASS
Which statement is TRUE regarding The Appraisal Foundation and USPAP
enforcement authority? - correct answer The Appraisal Foundation does not
have the authority to enforce the requirements of USPAP.
Which entity is responsible for establishing education and experience
requirements for licensing and certification of appraisers? - correct answer
Appraiser Qualifications Board (AQB)
Qualification criteria for appraiser certification and recertification are
disseminated to state appraisal boards by the: - correct answer Appraiser
Qualifications Board (AQB)
Which entity appoints members of the Foundation's independent Boards? -
correct answer Board of Trustees (BOT)
,USPAP is developed, interpreted, and amended by the: - correct answer
Appraisal Standards Board (ASB)
Advisory Opinions are best described as - correct answer Not part of USPAP,
but included as reference material
The ASB is considering comment letters written by members of the public
regarding a proposed revision to USPAP. When reviewing these comment letters,
the ASB focuses on: - correct answer The reasoning and insight presented in
the letter
Which is NOT a responsibility of the Appraisal Subcommittee (ASC)? - correct
answer Developing, amending, and interpreting USPAP
Who is responsible for issuing credentials to individual appraisers? - correct
answer State appraisal regulatory agencies
Under FIRREA, USPAP is enforced by: - correct answer State appraiser
licensing/certification agencies
, Which entity maintains the official national registry of state-certified and licensed
appraisers? - correct answer Appraisal Subcommittee (ASC)
In USPAP, the appraisal process is divided into two distinct types of activity:
_________ and __________. - correct answer development, reporting
Which step in the appraisal process involves communication of the appraiser's
opinions and conclusions? - correct answer reporting
The first step in the appraisal process is: - correct answer Identify the problem
A preference or inclination that precludes an appraiser's impartiality,
independence, or objectivity is: - correct answer bias
An appraiser is not permitted to be ____________ when performing an appraisal.
- correct answer an advocate
conveys a mental state that does not favor one side over another at the outset of
an investigation is what? - correct answer impartiality
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