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

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Question: 1 / 415

What is true regarding the requirement from Standard Rules 1-5?

Appraisers must ignore past sales history

Appraisers are required to analyze the sales history of the comps

In the context of Standard Rule 1-5 of USPAP, the requirement emphasizes that appraisers are indeed required to analyze the sales history of the comparable properties being considered in an appraisal. This analysis is critical as it provides insights into market trends, the liquidity of the properties, and how sales history can affect the current market value.

By examining the sales history, appraisers can assess the stability of prices over time and determine relevant adjustments needed for the subject property compared to the comparables. This ensures a more accurate and informed appraisal outcome, aligning with the highest standards of professionalism and ethical practice laid out by USPAP.

Understanding the importance of this analysis not only aids in accurate valuation but also helps appraisers substantiate their conclusions, contributing to the credibility of their appraisal reports.

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Appraisers need to obtain a title report

Appraisers must appraise properties without historical sales data

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