Chapter 1 - Introduction to USPAP Flashcards
1
Q
Which is NOT a responsibility of the Appraisal Subcommittee (ASC)
A
Writing, interpreting, and amending USPAP
2
Q
The Appraisal Foundation has the authority to enforce the requirements of USPAP.
A
False
3
Q
Why are USPAP Advisory Opinions issued?
A
To offer advice
4
Q
Currently, the boards within the Appraisal Foundation include:
A
Appraisal Standards Board, Appraisal Qualifications Board, Board of Trustees
5
Q
Which Foundation board is responsible for USPAP?
A
Appraisal Standards Board (ASB)
6
Q
Who is responsible for issuing credentials to individual appraisers?
A
State appraisal regulatory agencies
