McKissock USPAP Chapter 4 questions with answers

McKissock USPAP Chapter 4 questions
with answers

What does the ethics rule establish? - ....🔰VERIFIED ANSWERS....
✔✔Establishes fundamental obligations of an appraiser as part of the
profession


Ethics Rule - ....🔰VERIFIED 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 - ....🔰VERIFIED 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? - ....🔰VERIFIED ANSWERS....
✔✔Individual Appraisers


Sections of Ethics Rule - ....🔰VERIFIED ANSWERS.... ✔✔-Conduct

, -Management
-Confidentiality


Activities Covered by the Ethics Rule - ....🔰VERIFIED ANSWERS.... ✔✔-
General Conduct
-Development
-Communication


Conduct Section of Ethics Rule - ....🔰VERIFIED 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 - ....🔰VERIFIED 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 - ....🔰VERIFIED ANSWERS.... ✔✔3
years


Payment of Fees in Ethics Rule - ....🔰VERIFIED 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