USPAP Cheat Sheet 2026

The 30 highest-yield USPAP facts, distilled from real exam questions. Print it, save it as a PDF, or study it here — free, no sign-up.

1. An appraiser discovers that a prior appraisal they completed contains a material error. Under the Ethics Rule, the appraiser should: → Notify the client and correct the error
2. Under USPAP, 'competency' primarily refers to: → The knowledge, experience, and judgment required for a specific assignment
3. What is the role of the Appraisal Qualifications Board (AQB) in the appraisal profession? → Establishing minimum education, experience, and examination criteria for licensure
4. If an appraiser discovers after completing an assignment that significant information was omitted from the report, USPAP requires the appraiser to: → Notify the client and, if necessary, issue a corrected report
5. Under USPAP, which of the following best describes the term 'scope of work'? → The type and extent of research and analyses in an appraisal assignment
6. Under USPAP, which of the following can result in a formal disciplinary action against an appraiser? → Developing an appraisal that contains materially false or misleading statements
7. In a USPAP-compliant report, the 'date of the report' refers to: → The date the appraiser signs and certifies the report
8. USPAP's definition of 'cost' in the context of real property appraisal refers to: → The expenditure required to create or obtain an asset as of a specific date
9. If the scope of work is narrowed compared to a typical assignment, which of the following is required under USPAP? → Disclosure of the limited scope in the report
10. The Scope of Work Rule requires that the scope be adequate to produce results that are 'not misleading.' This means: → The scope must not deceive or misinform intended users about the nature of the assignment
11. What does the term 'intended use' mean in the context of USPAP? → The use of the appraisal or appraisal review by the intended user
12. Under USPAP, 'scope of work' is defined as the type and extent of: → Research and analyses applied in an assignment
13. An appraiser completed an assignment in January 2020. The appraisal was used in litigation that concluded in March 2024. When may the workfile be destroyed? → March 2026, two years after final judicial disposition
14. The Ethics Rule's Management section specifically prohibits appraisers from: → Accepting contingent compensation based on reported value
15. Under USPAP, an appraiser developing an appraisal review must: → Form an opinion as to the adequacy and appropriateness of the work under review
16. Under USPAP, who has the primary responsibility for determining the appropriate scope of work for an assignment? → The appraiser
17. Under the Ethics Rule, which action is expressly prohibited regarding advertising? → Making false or misleading statements in advertising
18. If the scope of work changes materially after an appraisal assignment begins, USPAP requires the appraiser to: → Reassess whether the changed scope still produces a credible result and update accordingly
19. USPAP Standards 7 and 8 apply to which type of valuation? → Personal property appraisal
20. Under Standards Rule 2-1, an appraisal report must clearly and accurately set forth the appraisal in a manner that is: → Not misleading and sufficient for the intended use
21. How often does the Appraisal Standards Board update USPAP? → Every two years
22. Under USPAP Standards Rule 1-6, when reconciling the approaches to value, the appraiser must: → Consider and analyze the quality and quantity of data and appropriateness of each approach
23. Under USPAP, a duly authorized peer review committee requests access to an appraiser's workfile. What is the appraiser's obligation? → The appraiser must provide access as required by the Record Keeping Rule
24. Which of the following is considered a violation of USPAP's Conduct section of the Ethics Rule? → Accepting an assignment with a contingent fee based on a predetermined value
25. How long must an appraiser retain workfile records under the USPAP Record Keeping Rule? → At least 5 years after preparation or 2 years after final disposition, whichever is later
26. Under USPAP, the 'intended use' of an appraisal must be stated in the report because it: → Defines the context for the assignment and limits who may rely on the report
27. Which USPAP standard governs the development of a real property appraisal? → STANDARD 1
28. Which federal law created the requirement for state-licensed or state-certified appraisers for federally related transactions? → The Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA)
29. USPAP Standards Rule 1-2 requires an appraiser developing a real property appraisal to identify the effective date of the appraisal. The effective date is: → The date to which the value opinion applies
30. Which USPAP term refers to the legal right to control the use of property to the exclusion of others? → Fee simple estate