Hawaii Pre-Licensing National Practice Exam

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What professional group would follow USPAP?

Real estate brokers
Appraisers
Home inspectors
Property managers

The correct answer is: Appraisers

The Uniform Standards of Professional Appraisal Practice (USPAP) are a set of guidelines and ethical standards specifically tailored for the appraisal profession. These standards are designed to maintain public trust in the appraisal process and ensure that appraisals are conducted in a fair and consistent manner. Appraisers are responsible for determining the value of properties and must adhere to these standards in their evaluations. Following USPAP ensures that appraisers provide credible and reliable value assessments, which is crucial in real estate transactions, financing, and taxation. While real estate brokers, home inspectors, and property managers play vital roles in real estate, their professions do not specifically mandate adherence to USPAP. Brokers handle sales and listings, inspectors assess the condition of properties, and property managers oversee operations and tenant relations. Each of these roles may involve elements of appraisal or valuation, but they are not required to follow USPAP guidelines as appraisers are. This distinction underlines the importance of understanding who is governed by these professional standards.