Chapter 2

Question 1

In January 1989 The Appraisal Foundation (TAF) adopted _________.

Answer 1

USPAP

Question 2

The TAF has four principal boards

Answer 2

Board of Trustees (BOT)
Appraisal Standards Board (ASB)
Appraiser Qualifications Board (AQB
Appraisal Practices Board (APB)

Question 3

BOT acts as an executive board for the TAF and is responsible for appointing members to the ASB, AQB and APB.

Answer 3

Board of Trustees

Question 4

ASB is responsible for creating standards for ethics and performance of appraiers USPAP.
ASB is responsible for USPAP.

Answer 4

Apprisal Standards Board (ASB)