uspap practice test questions and answers 2023 verified answers by expert
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USPAP Practice Test 2023 Questions and Answers
1. The PREAMBLE states the purpose of USPAP is to maintain public in
the appraisal practice by establishing requirements for appraisers.: >>>
trust
2. USPAP benefits providers of appraisal services and: users of
appraisal services.
3. Which is NOT considered significant real property appraisal
assistance?-
: >>> collecting employment data for use in analysis
4. A valuation service performed by an individual acting as an
appraiser requires the appraiser to: >>> inquire about the intended
user's expectations.
5. When an individual is performing valuation services outside of
appraisal practice, that individual must be careful to: >>> not
misrepresent his role.
6. When choosing to provide a valuation service as an appraiser or in
some other capacity, great care must be taken to: >>> maintain public
trust.
7. A real property appraiser teaching appraisal is engaged in: >>>
appraisal practice with no applicable Standards (1-10).
1/9
,8. A lender has telephoned an appraiser to determine the high and low
sales prices in the past year that took place in the Green Hills Subdivision.
No mention was made of a subject property by the lender. The appraiser
has supplied a list of all of the sales within the past year in the subdivision
and billed the lender for service. The service being provided by the
appraiser is: - appraisal practice with no performance standards or
record keeping requirements.
9. In accordance with USPAP, which is NOT an expectation when acting in
the role of an appraiser?: holding a state license or certification
10.Compliance with USPAP is required when obligated by: agreement,
law, or regulation.
11.When an appraiser is providing a service other than an appraisal
or appraisal review, which would NOT apply?: RECORD KEEPING
RULE
12.Zachary's client instructs him to report a specific property value as
a condition of the assignment. The assignment: is a violation of the
ETHICS RULE.
13.Which of these activities does the Conduct section of the ETHICS
RULE prohibit?: criminal conduct
14. Jack appraised a residential dwelling that is located across the street
from a factory that he determined is negatively affecting the value of the
subject property. Jack applied a location adjustment in his sales
comparison approach. However, the client asked that the factory not be
discussed in the
2/9
, appraisal report. Since Jack addressed the condition with an adjustment,
has he complied with USPAP?: no, omitting the discussion could produce
a misleading report
15.Anthony received an appraisal assignment for a property that was pre-
viously appraised by him. He understands that be must handle
confidential information appropriately. What else must Anthony do?:
make proper disclo- sure regarding the prior assignment
16.Marcus was hired to appraise a home that be had previously appraised
one year ago. May Marcus accept the assignment?: yes, as long as he
disclos- es the previous service on the property to the client and in the
subsequent report certification
17.A real property appraiser has paid a fee to procure an appraisal
assign- ment. According to the Management section of the ETHICS RULE,
where must the fee be disclosed?: in the certification and any
transmittal letter
18.Josh received an appraisal request from a lender-client who told him, to
immediately call if the value on the property is less than the amount stipu-
lated by the lender, as he doesn't intend to pay for an appraisal that won't
benefit his position. Will acceptance of this assignment be in compliance
with USPAP?: no, an appraiser may not accept an assignment with
unacceptable assignment conditions
19.Which of the following would NOT be considered an unacceptable fee
arrangement?: fee based on the volume of total business from a
particular client
3/9
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