USPAP Final Exam EXAM LATEST
2023-2024 ACTUAL EXAM QUESTIONS
AND CORRECT ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+
The Appraisal Foundation has the authority to
enforce the requirements of USPAP. - CORRECT
ANSWER False; The Appraisal Foundation is a
private entity. The Foundation and its boards have
no enforcement authority in any jurisdiction.
Which Foundation board is responsible for USPAP?
- CORRECT ANSWER Appraisal Standards Board
(ASB)
Currently, the boards within The Appraisal
Foundation include: - CORRECT ANSWER
Appraisal Standards Board, Appraiser Qualifications
Board, Board of Trustees
Which entity is responsible for establishing
education and experience requirements for licensing
and certification of appraisers? - CORRECT
ANSWER Appraiser Qualifications Board (AQB)
Which entity appoints members of the AQB and
ASB? - CORRECT ANSWER Board of Trustees
(BOT)
Qualification criteria for appraiser certification and
recertification are disseminated to state appraisal
boards by the: - CORRECT ANSWER Appraiser
Qualifications Board (AQB)
Advisory Opinions are best described as -
CORRECT ANSWER not part of USPAP, but
included as reference material
USPAP is written, amended, and interpreted by the:
- CORRECT ANSWER Appraisal Standards Board
(ASB)
USPAP is enforced by: - CORRECT ANSWER
State appraiser licensing/certification agencies
Which is NOT a responsibility of the Appraisal
Subcommittee (ASC)? - CORRECT ANSWER
Writing, interpreting, and amending USPAP
WRONG Answers: Monitoring the practices,
procedures, and activities of The Appraisal
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