Practice Tests For IT & Nursing
Question # 26

Which Standards govern personal property appraisals?

Options:

A.

Standards 1 and 2

B.

Standards 5 and 6

C.

Standards 7 and 8

D.

Standards 9 and 10

Question # 27

The Competency Rule requires that:

Options:

A.

Appraisers disclose deficiencies, gain competency, or decline the assignment

B.

Only federally regulated assignments require disclosure

C.

Competency applies only to real property appraisals

D.

Competency must be demonstrated after report delivery

Question # 28

Which USPAP document is updated every two years to reflect current practices?

Options:

A.

Advisory Opinions

B.

USPAP itself

C.

Record Keeping Rule

D.

Ethics Rule

Question # 29

The USPAP document’s ultimate purpose is to:

Options:

A.

Standardize appraisal report formats

B.

Ensure uniform appraisal values

C.

Promote public trust through ethical and competent practice

D.

Establish licensing requirements for appraisers

Question # 30

Standards 7 and 8 of USPAP apply to:

Options:

A.

Real property appraisal

B.

Personal property appraisal

C.

Business and intangible asset appraisal

D.

Mass appraisal

Viewing question 6 out of 14 questions


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USPAP Overview

Name USPAP Certified General Appraiser
Code USPAP
Vendor Finance, Insurance and Real Est
Certification Appraiser Qualifications Board (AQB) and The Appraisal Foundation

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