7 HOUR USPAP EXAM 2024| ACTUAL EXAM QUESTIONS AND 100% VERIFIED ANSWERS| SCORED A+
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7 HOUR USPAP
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7 HOUR USPAP
7 HOUR USPAP EXAM 2024| ACTUAL EXAM QUESTIONS AND 100% VERIFIED ANSWERS| SCORED A+
What is true about an appraiser's description of the physical characteristics of a property?
a) The physical chracteristics are treated as outside the appraisal practice
b) The physical characteristics are not ass...
7 HOUR USPAP EXAM 2024| ACTUAL
EXAM QUESTIONS AND 100% VERIFIED
ANSWERS| SCORED A+
What is true about an appraiser's description of the physical characteristics of a
property?
a) The physical chracteristics are treated as outside the appraisal practice
b) The physical characteristics are not assignment results.
c) The pyhsical characteristics must be verified with public records if the data is
available through the normal course of business.
d) The physical characteristics are confidential information.
b) The physical characteristics are not assignment results.
Standards Rule 1-2 is labeled to identify what area of the appraisal process?
a) Approaches to Value
b) Market Analysis and Highest and Best Use
c) General Development Requirements
d) Problem Identification
d) Problem Identification
An individual acting in the capacity of an appraiser is analyzing foreclosure rates in
competing market areas. What USPAP Rule would defiitely NOT apply to this service?
a) Competancy Rule
b) Ethics Rule
c) Scope of Work Rule
d) Jurisdictional Exception Rule
C) Scope of Work Rule
Which of the following would NOT be appropriate for an appraiser to issue a
Restricted Appraisal Report?
,a) The other intended users cannot be named individually and need to be identified
by type.
b) The client (and, if applicable, named other intended users) do not need the level of
information required in an Appraisal Report
c) The intended use of the appraisal is appropriate for a report which may not contain
supporting rationale for all of the opinions and conclusions set forth in the report.
d) The client understands the limited utility of this reporting option.
,a) The other intended users cannot be named individually and need to be identified
by type.
Appraisers make suggestions for changes to USPAP, but who else suggests changes?
a) Members of the general public
b) Government agencies
c) All of these answers
d) Users of appraisal services
c) All of these answers
In the COMPETENCY RULE the phrase "prior to accepting an assignment" was
changed to what revised wording in the 2020-2021 USPAP?
a) prior to taking an assignment
b) prior to procuring an assignment
c) prior to agreeing to perform an assignment
d) prior to receiving an assignment
c) prior to agreeing to perform an assignment
Under what condition can an appraiser perform a desk review on an appraisal report
for a property located in a different state?
a) only when the appraiser is licensed or certified in the state where the property is
located
b) when the appraiser has the same or higher level of knowledge and experience
than the appraiser who performed the appraisal that is now under review
c) when the appraiser has the knowledge and experience to complete the assignment
competently based on the assignment's scope of work
d) under a hypothetical condition that he or she has the knowledge and experience
to complete the review competently
c) when the appraiser has the knowledge and experience to complete the assignment
, competently based on the assignment's scope of work
What is true when a party receives a copy of an Appraisal Report in order to satisfy
disclosure requirements?
a) The party becomes an intended user of the appraisal.
b) The party does not become an intended user of the appraisal unless the appraiser
has idenfified the party as an intended user.
c) It creates a new assignment.
d) The appriaser is obligated to add a supplement identifying the added party.
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