USPAP Practice Exam 2025 – Complete All-in-One Guide to Mastering Professional Appraisal Standards

Question: 1 / 415

Is it false that appraisers are expected to be aware of all laws and regulations applicable to an assignment?

True

Appraisers are indeed expected to be aware of all laws and regulations applicable to their assignments. This requirement stems from the necessity for appraisers to conduct their work in compliance with not only federal laws but also state and local regulations that may impact appraisal practice. Being knowledgeable about these laws is crucial as it ensures that the appraiser's work adheres to ethical standards and legal guidelines, ultimately helping to maintain the integrity and reliability of the appraisal process.

Understanding and applying relevant laws and regulations facilitates an accurate appraisal that can withstand scrutiny from various stakeholders in the real estate market, including clients, lenders, and regulatory agencies. This expectation is a fundamental part of an appraiser's professional duties and ethical responsibilities, reinforcing the notion that adherence to the law is essential for maintaining public trust in the appraisal profession.

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False

It depends on the region

Only for federal laws

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