Certified Valuation Analyst (CVA) Exam 2025 – 400 Free Practice Questions to Pass the Exam

Question: 1 / 400

Are all CPAs required to follow the Uniform Standards of Professional Practice (USPAP)?

Yes, always

No, it is only required for those involved in valuation

The correct response highlights that only CPAs who are specifically involved in valuation work are required to adhere to the Uniform Standards of Professional Practice (USPAP). USPAP sets forth the standards relevant for appraisers and associated professionals, particularly in real estate, personal property, and business valuations. This means that while all CPAs follow accounting principles and standards relevant to their practice, the obligation to comply with USPAP is not universal among all CPAs but is limited to those engaged in valuation activities.

CPAs not involved in valuation are not bound by USPAP, allowing them the flexibility to follow other relevant accounting standards and frameworks applicable to their specific areas of practice. Therefore, this option accurately reflects the contingent nature of USPAP requirements for CPAs based on their scope of work.

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No, it depends on the state

No, they can choose alternative standards

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