15 Hour USPAP Latest Practice Exam 2024 Complete 135 Questions
with 100% Correct Verified Answers/ Graded A+
1. ______________________ is a valuation service Appraisal Practice
performed by an individual acting in the role of an
appraiser.
2. When performing valuation services outside of misrepresent them-
appraisal practice, appraisers must be careful not selves or mislead
to ______________________________ the client
and other intended users about their role
3. For Assignments other than appraisal or ap- performance or record
praisal review, there are no _________________ or keeping
____________________ record keeping require-
ments in USPAP.
4. What appraisal services are covered by USPAP Appraisal;
-Appraisal review
-Other services when
choosing to represent
oneself as an apprais-
er
5. .Appraisal practice is a ______________ of the subset
broader concept of valuation services
6. True or False False
If an individual who is both a broker and an ap-
praiser provides a "value"
opinion for a specific property to be used in a
listing agreement, the
service is always outside appraisal practice.
7. True or False True
An individual must comply with USPAP when re-
quired by law,
regulation, or agreement with the client or other
intended users.
8. True or False False
, 15 Hour USPAP Latest Practice Exam 2024
Appraisal practice pertains only to market value
appraisals.
9. True or False True
An appraiser has a professional responsibility to
identify the capacity in
which he or she is performing.
10. True or False True
The purpose of USPAP is to promote and maintain
a high level of public
trust in professional appraisal practice.
11. The party or parties who engage(s) an appraiser client
12. Assumes conditions contrary to known facts hypothetical condition
13. Services performed by an individual acting as an appraisal practice
appraiser
14. Documents the support for the appraiser's con- workfile
clusions
16. A preference that precludes an appraiser's impar- bias
tiality
17. the amount asked, offered, or paid for a property price
18. services pertaining to aspects of property value valuation services
19. the act or process of developing an opinion of appraisal
value
20. An opinion that expresses an economic concept value
21. valuation services
, 15 Hour USPAP Latest Practice Exam 2024
Real estate brokerage, appraisal reviews, and real
property appraisals are all included within
22. the preamble states that USAP is for appraisers and
users of appraisal ser-
vices
23. According to USPAP, the party or parties who client
engage an appraiser in a specific assignment de-
fines
the
24. USPAP is enforced by State regulatory agen-
cies
25. USPAP is developed, interpreted, and amended by Appraisal Standards
the: board
26. Appraisal practice includes only valuation services
performed by an indi-
vidual ac ting as an
appraiser
27. If an appraiser assumes a condition to be true that hypothetical condition
does not exist for purposed of analysis, this is an
example of
28. Why are USPAP Advisory Opinions issued to illustrate the ap-
plicability of appraisal
standards
29. If an appraiser assumes a condition to be true that hypothetical condition
does not exist for purposes of analysis, this is an
example of
30. Why are USPAP Advisory Opinions Issued to illustrate the ap-
plicability of Appraisal
standards
31.
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