USPAP USPAP 5

Question 1

Under USPAP, which of the following is an example of a 'jurisdictional exception'?

Accepted Answer

A law requiring the appraiser to use a specific method that conflicts with a USPAP standard

Answer

The Jurisdictional Exception Rule applies when applicable law or regulation conflicts with a USPAP standard, allowing that portion of USPAP to be set aside.

Question 2

An appraiser who signs a certification as a supervisory appraiser accepts responsibility for:

Accepted Answer

The appraisal report in its entirety

Answer

A supervisory appraiser who signs the certification accepts responsibility for the entire appraisal report, not just portions they personally performed.

Question 3

Which of the following best defines 'intended user' under USPAP?

Accepted Answer

The client and any other party the appraiser identifies as using the appraisal in the specific assignment

Answer

Intended users are the client and any other parties the appraiser identifies, by name or type, as users of the appraisal at the time of the assignment.

Question 4

Under USPAP's Confidentiality section, an appraiser MAY disclose assignment results without client permission when:

Accepted Answer

Disclosure is required by a court order or by applicable law

Answer

The Confidentiality section permits disclosure without client consent when required by due process, a court order, or applicable law.

Question 5

The USPAP Scope of Work Rule requires that the scope of work be sufficient to produce:

Accepted Answer

Assignment results that are credible given the intended use

Answer

The Scope of Work Rule requires that the selected scope produce credible assignment results given the intended use and intended users.

USPAP Exam Practice Test

USPAP Exam Practice Test

USPAP USPAP 5