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Who is required to comply with USPAP in North Carolina?

A) Licensed and certified appraisers only
B) Trainees only
C) Licensed and certified appraisers and trainees
D) Anyone who performs a Broker's Price Opinion (BPO)

User YJZ
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1 Answer

2 votes

Final answer:

In North Carolina, licensed and certified appraisers, as well as appraiser trainees, are required to comply with the Uniform Standards of Professional Appraisal Practice (USPAP). Individuals performing Brokers Price Opinions (BPOs) are not required to comply unless they also hold appraisal qualifications.

Step-by-step explanation:

The Uniform Standards of Professional Appraisal Practice (USPAP) is a set of standards for real estate and personal property appraisers that establishes requirements for professional practice. In North Carolina, the individuals required to comply with USPAP include both licensed and certified real estate appraisers, as well as appraiser trainees. Therefore, option C: Licensed and certified appraisers and trainees is the correct answer.

It's important to note that compliance is not required for individuals who perform Brokers Price Opinions (BPO) unless they are also licensed or certified appraisers or trainees performing appraisal services.

User John Kramlich
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