Acturial Science > QUESTIONS and ANSWERS > USPAP 15-hour course Questions and Answers 100% Pass (All)

USPAP 15-hour course Questions and Answers 100% Pass

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The concept of public trust means that an appraiser must act: ✔✔in the public's interest USPAP establishes standards that are applicable in the appraisal of: ✔✔real property, intangible pr... operty, and personal property Which statement is TRUE regarding The Appraisal Foundation and USPAP enforcement authority? ✔✔The Appraisal Foundation does not have the authority to enforce the requirements of USPAP. Which entity is responsible for establishing education and experience requirements for licensing and certification of appraisers? ✔✔Appraiser Qualifications Board (AQB) Qualification criteria for appraiser certification and recertification are disseminated to state appraisal boards by the: ✔✔Appraiser Qualifications Board (AQB) Which entity appoints members of the Foundation's independent Boards? ✔✔Board of Trustees (BOT) USPAP is developed, interpreted, and amended by the: ✔✔Appraisal Standards Board (ASB) Advisory Opinions are best described as ✔✔Not part of USPAP, but included as reference material The ASB is considering comment letters written by members of the public regarding a proposed revision to USPAP. When reviewing these comment letters, the ASB focuses on: ✔✔The reasoning and insight presented in the letter Which is NOT a responsibility of the Appraisal Subcommittee (ASC)? ✔✔Developing, amending, and interpreting USPAP Who is responsible for issuing credentials to individual appraisers? ✔✔State appraisal regulatory agencies Under FIRREA, USPAP is enforced by: ✔✔State appraiser licensing/certification agencies [Show More]

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