When is an individual not required to comply with USPAP?

An individual is not required to comply with the Uniform Standards of Professional Appraisal Practice (USPAP) when they are not bound by law, regulation, or agreement. This stipulation is critical because USPAP is primarily designed to ensure that appraisals meet certain standards of professionalism and integrity. Compliance with USPAP is typically mandated for certified and licensed appraisers when they are conducting appraisals for specific purposes. If there is no legal requirement, regulatory obligation, or contractual agreement mandating adherence to USPAP, individuals may choose to operate without these constraints.

In this context, acting as a consultant may or may not require compliance depending on the nature of the service provided, and being a trainee does not automatically exempt someone from USPAP requirements. Providing subjective opinions does not inherently imply a lack of compliance with USPAP, as even subjective assessments can fall under the standards if they are part of a formal appraisal framework. Therefore, the correct understanding revolves around the absence of external mandates for adhering to USPAP.