Wednesday, February 16, 2005
USPAP is my bitch
Uniform Standards of Appraisal Practice (USPAP)
Guidelines adopted across 50 states to ensure consistency and credibility amongst appraisers.
USPAP constituted 15 hours of the current 90 hour course that I am engaged in to become a real estate appraiser. Federally mandated, I might add.
At the end of the 15 hour course, there is a 50 question multiple choice exam. You can miss up to 13 questions and still pass.
It took me roughly 20 minutes to complete the exam and I just found out that I got 46 out of 50 correct, but I still had to wait for the rest of the students to finish because we were going to have class after the exam. An hour and a half later, everybody settled up. And we still had about 4 students (out of 15) FAIL!
Bottom line, when it's all said and done, I owned USPAP. ¶ 10:47 PM
Guidelines adopted across 50 states to ensure consistency and credibility amongst appraisers.
USPAP constituted 15 hours of the current 90 hour course that I am engaged in to become a real estate appraiser. Federally mandated, I might add.
At the end of the 15 hour course, there is a 50 question multiple choice exam. You can miss up to 13 questions and still pass.
It took me roughly 20 minutes to complete the exam and I just found out that I got 46 out of 50 correct, but I still had to wait for the rest of the students to finish because we were going to have class after the exam. An hour and a half later, everybody settled up. And we still had about 4 students (out of 15) FAIL!
Bottom line, when it's all said and done, I owned USPAP. ¶ 10:47 PM
