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USPAP applies universally to all appraisal practice, regardless of property type or licensing category.

Statements on Appraisal Standards were historically issued by the Appraisal Standards Board to clarify, interpret, or expand USPAP requirements. Unlike Advisory Opinions, which are non-binding guidance, Statements were binding and enforceable as part of USPAP. However, in recent USPAP updates, Statements have been retired, with content incorporated into rules and standards. Understanding their historical role is important because older materials and exam questions may still reference them. This distinction underscores the layered structure of USPAP guidance documents: Rules and Standards are binding, Advisory Opinions are illustrative, and Statements were once binding interpretations.

Standards 7 (development) and 8 (reporting) govern personal property appraisals, ensuring they meet USPAP’s credibility requirements.

The Record Keeping Rule requires that workfiles be available to state enforcement agencies for review, ensuring accountability and compliance.

Standard 5 governs the development of mass appraisals, commonly used for tax assessments and broad valuation programs.