Final answer:
Real estate licensees must abide by USPAP when preparing CMAs and BPOs.
Step-by-step explanation:
The correct answer is True. Real estate licensees must abide by the Uniform Standards of Professional Appraisal Practice (USPAP) when preparing CMAs (Comparative Market Analysis) and BPOs (Broker Price Opinions).
USPAP is the set of guidelines and ethical standards developed by the Appraisal Foundation for the appraisal profession in the United States.
By following USPAP, real estate licensees ensure that their CMAs and BPOs are accurate, reliable, and comply with professional standards.