USPAP Practice Test Final exam questions and

USPAP Practice Test Final exam questions and answers 2025-2026|verified|100% correct Which is not an element of problem identification?-assignment conditions -effective date of the opinions and conclusions -client and other intended users -reporting option to be used in the assignment - ANSWER-Reporting option to be used in the assignment

Most of the information necessary for the appraiser to identify the problem in a particular assignment - ANSWER-Requires communication with the client

What is true about appraising the same property for two clients - ANSWER-Value opinion could be different in each assignment

Confidential information can be disclosed to person specifically authorized by the client, state appraisal agencies, third parties as authorized by law, or a - ANSWER-Duly authorized professional peer review committee

When an individual is performing valuation services outside of appraisal practice, that individual must be careful to - ANSWER-Not miss represent his role

According to the management session of the ethics rules, and appraiser in fixes his signature in assignment for what purpose? - ANSWER-Certified recognition and acceptance of USPAP responsibilities

When can extraordinary Assumption be used regarding information not available to the appraiser due to assignment conditions - ANSWER-When credible assignment results can still be developed

Which is an element of defining the problem?-Assignment conditions -market analysis -scope of work -Data collection - ANSWER-Assignment conditions 1 / 2

Which of these activities does the conduct session of the ethics rule prohibit?-criminal conduct -Objective opinions in appraisal practice -valuation services outside of appraisal practice -Appraisal consulting - ANSWER-Criminal conduct

Which would not be considered a competency factor in a particular assignment?-analytical method -laws and regulations -appraisers credentials -intended use - ANSWER-Appraisers credentials

The conduct session of the ethics rule requires the appraiser to disclose previous services as an appraiser or in any capacity regarding the subject property for what period of time prior to accepting an assignment - ANSWER-Three years

And appraisers peer is defined as - ANSWER-Other appraisers who have expertise and competency in a similar type of assignment

According to the recordkeeping rule, what information is not required to be in the work file?-documentation to support the appraisers opinion and conclusions -specific names of other intended users -True copies of any written reports -references to the location of other documentation not in the work file - ANSWER-Specific names of other intended users

Disclosure of fees, commissions, and things of value given in connection with the procurement of an assignment must be disclosed in what part of a report or specific document? - ANSWER-Certification in certain letters of transmittal

When an appraiser is offered the opportunity to appraise a property for a new client that was the subject of a prior assignment, and the appraiser is not bound to keep the previous assignment

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