USPAP only applies to individuals when they are acting ____________.

• A. As an appraiser
• B. As a mortgage broker
• C. As a property manager
• D. As a real estate agent

Answer: (A)

USPAP governs the practice of appraisal, not general real estate work. It applies whenever someone is acting as an appraiser—developing, reporting, and communicating an opinion of value for a property for a fee or for hire. That means the standards are set for the professional tasks involved in appraising real estate, including the methods used and how findings are presented.

The other roles listed—the mortgage broker, property manager, and real estate agent—do not inherently involve performing an appraisal. They may perform valuation activities in some cases, but USPAP doesn’t apply to their usual duties unless they are actually acting in the capacity of an appraiser on a particular assignment. So the answer is that USPAP applies when acting as an appraiser.