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USPAP Standards are divided into development and reporting categories. Standard 1 specifically addresses the development of a real property appraisal, requiring the appraiser to employ recognized methods and techniques, remain unbiased, and clearly identify the problem to be solved. Standard 2 addresses reporting of the appraisal, Standard 3 deals with appraisal review, and Standard 5 relates to mass appraisals. Following Standard 1 ensures that the assignment is completed with due diligence, professional care, and compliance with applicable requirements, thereby upholding the credibility of appraisal results.

The Competency Rule of USPAP permits appraisers to accept assignments in areas where they lack prior experience, provided they disclose their lack of competency at the outset, take steps to acquire the necessary knowledge and skills, and complete the assignment competently. Declining without attempting to meet competency (Answer A) is not required. Accepting without disclosure (Answer B) violates USPAP. Signing without competency (Answer D) also breaches standards. This provision allows appraisers to broaden their practice areas responsibly while maintaining public trust and assignment credibility.

Advisory Opinions are non-binding guidance issued by the ASB. Standards, on the other hand, are binding requirements.

USPAP requires that reports must not be misleading. If a client’s request would compromise credibility or transparency, the appraiser must decline or withdraw. Appraisers cannot allow client pressure to override USPAP obligations.

The ASB publishes Advisory Opinions to interpret USPAP and guide appraisers on complex practice issues.