Studying For USPAP, Principles And Procedures Exam

[VanGrooms]

Currently making the transition from a career as a territory sales manager to commercial real estate appraisal. I have been browsing this forum for a month or so but this is my first post.

I just finished up my first three appraisal courses and I am planning to take the exams within the next two months. I have seen plenty of study materials for the general certification (compucram etc) but is there anything available for the USPAP, principles and procedures exams?

Thanks

 

[Renee Healion]

I can’t answer your specific question with a study guide recommendation but will offer a comment. I took the 15 hr. many years ago and have since taken the 7hr updates every two years, as required. Over the years course developers seem to struggle to make that material seem relevant (though it is). Most seem to settle for prodding the students awake. It has been a while since I took an in-person class which may benefit from the instructor’s skills or personality, even. Online classes have numerous prods. And students complain about them.

What I find makes more sense than the instruction, is the document itself. Sit with a hard copy and read. Read the bold parts of Std 1, then go away. Come back and read it again but with all the text.

It is not an attractive document, but you can see the structure they use to convey the information. If it helps, sketch yourself a diagram. (Some people are visual thinkers and that helps with any text.)

Std 1 is about development of the appraisal. It is process. Then move on to Std 2 and see how it corresponds with Std 1. Std 2 is about how you transmit the appraisal you developed according to Std 1. It is about delivering your results.

They have made some changes over the years. A while back, a big one, Scope of Work. But really, years go by with them just clarifying, going for consistency. It is a good thing, if not exciting. They recently applied the same Std1 development and Std2 reporting structures to later Stds.

So, go for really getting the difference and meaning of 1 and 2 and then see that they are really repeating those concepts in the subsequent ones and those will move faster for you because you recognize the structure.

Learn by type which added material is considered part of USPAP and which are commentary, as test prep. Good luck with your exams.

 

[Meandering]

USPAP standards 1,2 and 3 are the focus.

learn them verbatim.

you can make your own flash cards or ask someone for an old student manual.

.

 

[bnmappraisal]

Welcome to the Forum VanGrooms

I, too, don't know of any specific study material(s) besides the document itself.

Renee has some good advice above in post 2 and I would agree with what she says

From what I remember of all appraisal tests I've taken, there is a lot of "word play" in them. So know what is "required" what is "can vs cannot" what is "must vs may" etc.

Good luck on your test.

 

[RockBass]

I just finished the 7 hour 2018/2019 update myself. While I haven't found a reliable source of study material, here's what I've picked up:

Study the book.

Mind your ASBs and AQBs. Basically know your acronyms and what purposes the boards serve.

When reading the questions regarding which Standards, make sure you're paying attention to whether the question references "developing" or "reporting".

 

[Mr Rex]

This book is out of date, but the larger concepts are the same and may open your eyes a little when reading the current version.

https://books.google.com/books/abou...ver&source=kp_read_button#v=onepage&q&f=false

 

[RSW]

How many of us remember when we used to have to take that class every 4 or 5 years?

 

[miktay]

How many of us remember when we used to have to take that class every 4 or 5 years?

...or those of us who remember back when there was no requirement.

 

[RSW]

Very true. I did my first appraisal in 1986.

 

[bnmappraisal]

How many of us remember when we used to have to take that class every 4 or 5 years?

...or those of us who remember back when there was no requirement.

Very true. I did my first appraisal in 1986.

... Rookie's (just kidding fellas)