McKissock USPAP Chapter 4 Questions
with Complete Solutions (Latest 2025)
What does the ethics rule establish? - Correct Answers
✅Establishes fundamental obligations of an appraiser as part
of the profession
Ethics Rule - Correct Answers ✅An appraiser must promote
and preserve the public trust inherent in professional
appraisal practice by observing the highest standards of
professional ethics.
Requirements of the ethics rule - Correct Answers ✅An
Appraiser Must:
-Not misrepresent his or her role when providing valuation
services that are outside of appraisal practice
-Certify compliance with USPAP
-Communicate in a manner that is not misleading
Who does the ethics rule apply to? - Correct Answers
✅Individual Appraisers
Sections of Ethics Rule - Correct Answers ✅-Conduct
-Management
-Confidentiality
, McKissock USPAP Chapter 4 Questions
with Complete Solutions (Latest 2025)
Activities Covered by the Ethics Rule - Correct Answers ✅-
General Conduct
-Development
-Communication
Conduct Section of Ethics Rule - Correct Answers ✅-
Appraiser must perform ethically and competently
-Appraiser must perform in accordance with USPAP
-Appraiser must not engage in criminal conduct
-Appraiser must NOT willfully or knowingly violate the
requirements of the record keeping rule
Conduct Section of Ethics Rule States - Correct Answers
✅If known prior to accepting an assignment, an/or if
discovered at any time during the assignment, an appraiser
must disclose to the client, and in each subsequent report
certification
Number of years required for disclosure - Correct Answers
✅3 years
Payment of Fees in Ethics Rule - Correct Answers ✅An
appraiser must disclose that he or she paid a fee or
commission, or gave a thing of value in connection with the
procurement of an assignment
with Complete Solutions (Latest 2025)
What does the ethics rule establish? - Correct Answers
✅Establishes fundamental obligations of an appraiser as part
of the profession
Ethics Rule - Correct Answers ✅An appraiser must promote
and preserve the public trust inherent in professional
appraisal practice by observing the highest standards of
professional ethics.
Requirements of the ethics rule - Correct Answers ✅An
Appraiser Must:
-Not misrepresent his or her role when providing valuation
services that are outside of appraisal practice
-Certify compliance with USPAP
-Communicate in a manner that is not misleading
Who does the ethics rule apply to? - Correct Answers
✅Individual Appraisers
Sections of Ethics Rule - Correct Answers ✅-Conduct
-Management
-Confidentiality
, McKissock USPAP Chapter 4 Questions
with Complete Solutions (Latest 2025)
Activities Covered by the Ethics Rule - Correct Answers ✅-
General Conduct
-Development
-Communication
Conduct Section of Ethics Rule - Correct Answers ✅-
Appraiser must perform ethically and competently
-Appraiser must perform in accordance with USPAP
-Appraiser must not engage in criminal conduct
-Appraiser must NOT willfully or knowingly violate the
requirements of the record keeping rule
Conduct Section of Ethics Rule States - Correct Answers
✅If known prior to accepting an assignment, an/or if
discovered at any time during the assignment, an appraiser
must disclose to the client, and in each subsequent report
certification
Number of years required for disclosure - Correct Answers
✅3 years
Payment of Fees in Ethics Rule - Correct Answers ✅An
appraiser must disclose that he or she paid a fee or
commission, or gave a thing of value in connection with the
procurement of an assignment
