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MCKISSOCK USPAP CHAPTER 11 QUESTINS AND ANSWERS 2025
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MCKISSOCK USPAP CHAPTER 11 QUESTINS AND ANSWERS 2025
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MCKISSOCK USPAP CHAPTER 11 QUESTINSAND ANSWERS 2025
How many numbered statements are active? - ANSWER There are currently no active
Statements on Appraisal Standards.
What are advisory options? - ANSWER Advisory Opinions are included in the USPAP bound
publication, but unlike Statements, are not part of USPAP and may be adopted by the ASB
without prior public exposure or comment.
Advisory Opinions do not establish new standards or interpret existing standards.
Advisory Opinions are issued by the Appraisal Standards Board (ASB) for the purpose of
illustrating the applicability of USPAP in specific situations and offering advice for the resolution
of appraisal issues and problems.
Thirty-six Advisory Opinions have been issued; five of them (AO-5, AO-6, AO-8, AO-10, and AO-
15) have been retired.
How many active advisory options are there? - ANSWER There are currently 31 active Advisory
Opinions.
How are advisory options labeled? - ANSWER The disciplines are real property (RP), personal
property (PP), and intangible property including business interests (IP). If the Advisory Opinion
applies to all disciplines, (All) is used.
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