Which of the following is NOT a characteristic of USPAP?

The correct answer highlights that USPAP (Uniform Standards of Professional Appraisal Practice) is not optional for appraisers who are providing appraisal services. USPAP is a set of guidelines and standards established to ensure that appraisals are performed in a consistent and ethical manner, thereby protecting public trust in the appraisal profession. All appraisers who are licensed or certified are required to adhere to USPAP standards in their practice.

The other answer choices describe important aspects of USPAP accurately. Its purpose is indeed to protect the public trust by ensuring appraisals are conducted ethically and competently, thus reinforcing the integrity of the profession. USPAP also offers a framework that supports ethical standards and outlines required competencies for appraisers. Additionally, USPAP applies to appraisals of both tangible assets, such as real estate and personal property, and intangible assets, which can include business interests and intellectual property.