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15-HR USPAP MCKISSOCK REVIEW QUESTIONS AND ANSWERS 2025
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Which Foundation board is responsible for USPAP? - ANSWER ASB Advisory Opinions are best described as - ANSWER not part of USPAP, but included as reference material USPAP is written, amended, and interpreted by the: - ANSWER Appraisal Standards Board (ASB) Why are USPAP Advisory Opinions i...

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  • November 3, 2024
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  • 2024/2025
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15-HR USPAP MCKISSOCK REVIEW QUESTIONS
AND ANSWERS 2025
Which,Foundation,board,is,responsible,for,USPAP?,-,ANSWER,ASB


Advisory,Opinions,are,best,described,as,-
,ANSWER,not,part,of,USPAP,,but,included,as,reference,material



USPAP,is,written,,amended,,and,interpreted,by,the:,-,ANSWER,Appraisal,Standards,Board,(ASB)


Why,are,USPAP,Advisory,Opinions,issued?,-,ANSWER,To,offer,advice


Which,of,these,is,considered,an,integral,part,of,USPAP,and,has,the,same,weight,as,the,compone
nts,they,address?,-,ANSWER,comments


A,valuation,service,that,is,premised,upon,advocacy:,-
,ANSWER,It,cannot,be,performed,by,an,individual,acting,as,an,appraiser



If,an,appraiser,assumes,a,condition,to,be,true,that,does,not,exist,for,the,purposes,of,analysis,,thi
s,is,an,example,of:,-,ANSWER,A,hypothetical,condition


"The,monetary,relationship,between,properties,and,those,who,buy,,sell,or,use,those,properties"
,is,the,definition,of:,-,ANSWER,Value



Standards,1,and,2,establish,requirements,for,the,development,and,reporting,of,a,-
,ANSWER,real,property,appraisal



Standards,3,and,4,establish,requirements,for,the,development,and,reporting,of,an,-
,ANSWER,appraisal,review.

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