The PREAMBLE states the purpose of USPAP is to maintain public ___ in the appraisal practice
by establishing requirements for appraisers. ✔✔trust
USPAP benefits providers of appraisal services and ✔✔users of appraisa
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The PREAMBLE states the purpose of USPAP is to maintain public ___ in the appraisal practice
by establishing requirements for appraisers. ✔✔trust
USPAP benefits providers of appraisal services and ✔✔users of appraisal services.
Which is NOT considered significant real property appraisal assistance? ✔✔collecting
employment data for use in analysis
A valuation service performed by an individual acting as an appraiser requires the appraiser to
✔✔inquire about the intended user's expectations.
When an individual is performing valuation services outside of appraisal practice, that individual
must be careful to ✔✔not misrepresent his role.
When choosing to provide a valuation service as an appraiser or in some other capacity, great
care must be taken to ✔✔maintain public trust.
A real property appraiser teaching appraisal is engaged in ✔✔appraisal practice with no
applicable Standards (1-10).
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.
In accordance with USPAP, which is NOT an expectation when acting in the role of an
appraiser? ✔✔holding a state license or certification
Compliance with USPAP is required when obligated by ✔✔agreement, law, or regulation.
When an appraiser is providing a service other than an appraisal or appraisal review, which
would NOT apply? ✔✔RECORD KEEPING RULE
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