USPAP

An appraiser signs, finalizes and electronically transmits a residential appraisal report to the client on March 15. Its value opinion has a March 1 effective date. The client does not open the transmitted report until March 20. What is the report date?

The Dodd-Frank Act's appraisal provisions primarily focus on:

According to AQB criteria, what is the minimum number of classroom hours of qualifying education required for a Certified Residential appraiser?

After delivering a $485,000 URAR, an appraiser discovers a previously undisclosed $15,000 seller repair credit on a comparable sale that may materially change the analysis. What is the most appropriate response?

Under USPAP, what are assignment results?

The certification required by Standards Rule 2-3 must be signed by:

An extraordinary assumption was reasonably supported, properly used and disclosed in an appraisal report. Later, the assumed information is found to be false. Which conclusion is best supported?

Under 2024 USPAP, which statement correctly combines the requirements for an oral real property appraisal report and its workfile?

May an appraiser use a hypothetical condition in any assignment?

An appraiser accepts an assignment involving a property type the appraiser has valued once before, years ago. Competency requires:

The special appraisal requirements in Regulation Z §1026.35(c), adopted under Dodd-Frank, concern which covered mortgage category?

A Certified General appraiser is asked to value a specialized industrial property for the first time. The appraiser knows a competency gap exists before agreeing to the assignment. What is required if the appraiser proceeds?

A state appraiser regulatory agency is reviewing an appraiser's continuing education compliance. The appraiser completed 28 hours of continuing education in the current two-year period, including 5 hours of USPAP update training. Does this meet AQB requirements?

Under 2024 USPAP Standard 1, which listed assignment element must be identified in developing a real property appraisal?

An appraisal has a current effective date and permits an extraordinary assumption if its requirements are met. Which situation involves uncertain information rather than a fact known to be contrary to reality on that date?

According to USPAP Standard 2, which of the following is NOT a required element in an appraisal report?

An appraiser provided an appraisal of the same property for another client 18 months ago. No confidentiality obligation prevents disclosing the fact of that service. Before agreeing to a new assignment, the appraiser must:

According to USPAP, what is the primary purpose of the Ethics Rule?

Why must a report identify any real property interest that is being excluded from the value opinion?

A client asks an appraiser to raise a completed report’s value conclusion by $15,000 solely to match the contract price, without providing new evidence. What should the appraiser do?

An appraiser is asked to determine 'fair market value' for an assignment. According to USPAP, the appraiser should:

Which list gives the sections of the 2024 USPAP Ethics Rule?

A reviewer uses an unfamiliar analytical technique in developing an appraisal review. What does SR 3-1 require?

Under 2024 USPAP DEFINITIONS, Extraordinary Assumption is commonly understood in appraisal practice as:

A comparable-sale grid includes a $5,000 bathroom adjustment. Which treatment best supports clear appraisal reporting?

An appraiser knows, before agreeing to a new assignment, that the appraiser provided property-management services regarding the subject two years earlier. Assuming no prohibition on disclosing that prior service, what is required?

An applicable state law actually precludes compliance with a specific USPAP reporting provision for an assignment. No federal USPAP requirement prevents that provision from being voided. Under the USPAP 2024 JURISDICTIONAL EXCEPTION RULE, what must the appraiser do?

Assume a federally regulated bank makes a $180,000 one-to-four-family residential refinance, no special exemption override or stricter loan-program rule applies, and the regulatory transaction value is $180,000. Under the federal banking-agency appraisal threshold, what may the bank generally obtain?

A real-property appraisal contains several individually small errors whose combined effect materially undermines its credibility. Which statement best reflects SR 1-1?

An Appraisal Report under Standard 2 must contain:

An unauthorized third party requests a lender-client’s report. No due-process or other permitted disclosure exception applies. How should the appraiser respond?

An Appraisal Report states that it develops market value but gives neither the applicable definition nor its source. Which correction addresses the missing content?

An appraiser proposes to assume there are no hidden defects. Which fact would characterize that assumption as extraordinary under the USPAP 2024 definition, rather than justify dismissing it as routine boilerplate?

An appraiser uses a supported extraordinary assumption about uncertain information. Which statement about communicating it is correct?

In a market-value appraisal, the subject is under a current agreement of sale at $500,000 with $15,000 in seller credits, and the agreement is available in the normal course of business. What does SR 1-5(a) require?

A reviewer asks why a report used three comps rather than six. The Standard 2 answer is that a report must contain:

Under a free paraphrase of the USPAP DEFINITIONS, which statement best describes appraisal practice?

Assignment conditions include all of the following except:

An appraiser may not advertise in a manner that is:

What is the relationship between exposure time and the definition of market value used?

A written real-property appraisal report uses a hypothetical condition but does not disclose it in the report. Under USPAP 2024 Standards Rules 2-1(c) and 2-2, what is the result?

An initial narrow comparable-sale search yields insufficient evidence, and other approaches are not applicable. Further suitable market research is feasible. What is the most appropriate next step toward credible completion?

Standards Rule 1-6 addresses the appraiser's obligation to:

Under a free paraphrase of the USPAP DEFINITIONS, which statement best describes credible?

Under Standard 1, when must an appraiser develop the cost approach?

An assignment requires a certification form that omits some SR 2-3 certification elements. What must the appraisal report contain?

Under the Conduct section of the USPAP Ethics Rule, which act is prohibited?

In an Appraisal Report for a 30-year-old residential property, the appraiser did not develop the cost approach. What should the report do?

A reviewer is engaged today to evaluate the quality of an appraisal with a prior effective date. What must the reviewer identify in defining the review problem?

Advisory Opinions issued by the Appraisal Standards Board: