MCKISSOCK USPAP CHAPTER 4 QUESTIONS AND ANSWERS 2025

What does the ethics rule establish? - ANSWER Establishes fundamental obligations of an appraiser as part of the profession Ethics Rule - ANSWER 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 - ANSWER 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? - ANSWER Individual Appraisers Sections of Ethics Rule - ANSWER -Conduct -Management -Confidentiality Activities Covered by the Ethics Rule - ANSWER -General Conduct -Development -Communication Conduct Section of Ethics Rule - ANSWER -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 - ANSWER 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