USPAP states that in a situation when an individual is not required by law, regulation, or agreement to comply with USPAP, the individual should still comply when he or she is acting as an appraiser.

Study for the McKissock 15hr National USPAP Test. Use flashcards and multiple-choice questions with hints and explanations. Get ahead in your appraisal career!

Multiple Choice

USPAP states that in a situation when an individual is not required by law, regulation, or agreement to comply with USPAP, the individual should still comply when he or she is acting as an appraiser.

Explanation:
Even when the law, regulation, or agreement doesn’t force it, an appraiser should follow USPAP when performing an appraisal. This standard applies to the practice itself, not just to mandated situations, because it sets the quality and ethics expected of professional appraisers. Following USPAP ensures the appraisal is credible, impartial, and defendable, and it protects the public trust in the appraisal process. The other ideas don’t fit because USPAP isn’t optional and it isn’t a country-club rule you can ignore; it isn’t limited to assignments where compliance is mandatory by law. Refusing assignments isn’t required either, and saying compliance is optional would undercut the professional responsibility that USPAP embodies.

Even when the law, regulation, or agreement doesn’t force it, an appraiser should follow USPAP when performing an appraisal. This standard applies to the practice itself, not just to mandated situations, because it sets the quality and ethics expected of professional appraisers. Following USPAP ensures the appraisal is credible, impartial, and defendable, and it protects the public trust in the appraisal process.

The other ideas don’t fit because USPAP isn’t optional and it isn’t a country-club rule you can ignore; it isn’t limited to assignments where compliance is mandatory by law. Refusing assignments isn’t required either, and saying compliance is optional would undercut the professional responsibility that USPAP embodies.

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