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USPAP Review Questions
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The Uniform Standards of Professional Appraisal Practice (USPAP) is the generally recognized ethical and performance standards for the appraisal profession in the United States. To become a real property appraiser in the United States, appraisers must take the 15-Hour National USPAP Course (or its equivalent).  Additionally, real property appraisers must take the 7-Hour National USPAP Update Course (or its equivalent) once every two calendar years. 

USPAP Review Questions
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25 Questions

1. What type of appraisal would be indicated by the phrase, 'the market value of the subject property was $200,000'?

2. What is the primary purpose of an appraiser making an inspection of the subject property?

3. Does USPAP permit a reviewer to use an extraordinary assumption in a review assignment?

4. One of an appraiser's obligations with regard to user expectations is to:

5. If a reviewer provides an oral report of an appraisal review:

6. An appraiser performs a research assignment, in which the appraiser completes research for a client but does not develop any opinions or conclusions. Which statement is TRUE regarding this assignment?

7. An appraiser provides an oral report of a real property appraisal assignment. Which statement is CORRECT?

8. A reviewer has been requested to also develop her own value opinion in a review assignment. Which statement is TRUE regarding this situation?

9. Identification of the intended use of an appraiser's opinions and conclusions is:

10. Qualification criteria for appraiser certification and recertification are disseminated to state appraisal boards by the:

11. An extraordinary assumption may be used in an assignment only if:

12. Examples of assignment conditions could include: (select the most complete answer)

13. The requirements of STANDARD 1 can be used as a checklist by an appraiser who is developing a real property appraisal.

14. If a client’s objectives result in an appraiser developing biased assignment results:

15. Under STANDARD 8, a personal property appraiser has ____ written report options.

16. An appraiser is engaged by her local county assessment board to complete an appraisal on an apartment building for ad valorem taxation purposes. Which USPAP Standard(s) apply to this assignment?

17. Which statement is FALSE regarding STANDARD 1?

18. The responsibility for the scope of work decision rests with the:

19. A real estate broker completes a Comparative Market Analysis (CMA) on a property that he wants to list for sale. What would this be considered?

20. Which statement about intended users is TRUE?

21. What is the stated purpose of USPAP?

22. If a client withholds the identity of the appraiser who completed the work under review, the reviewer:

23. The payment of fees by the appraiser in connection with the procurement of an assignment is:

24. In USPAP, the appraisal process is divided into two distinct types of activity: _________ and __________.

25. Appraisals for federally-regulated financial institutions often involve the use of the JURISDICTIONAL EXCEPTION RULE.

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