USPAP 2024 EXAMS QUESTIONS AND ANSWERS CORRECTLY ANSWERED

USPAP 2024 questions When providing opinion of value, which standards apply - Answer-Scope of work rule, Record keeping rule, applicable development development & reporting standards When providing opinion of quality of an appraiser's work, which standards apply - Answer-Scope of work rule, Record keeping rule, Standards 3 & 4 When providing an opinion that is part of a larger assignment, which standards apply - Answer-Ethics rule, Competency rule, Jurisdictional exception rule Services included in appraisal practice but have no specific performance standards - Answer-Sales data for general property, measuring services, writing an article, verifying zoning issues, analyzing specific elements of value (reproduction cost, functional utility) Compensation/advocacy services violates - Answer-Ethics Rule General conduct - Answer-Ethics Rule (conduct) - you must Perform ethically & competently Accordance w/ USPAP Not engage in criminal conduct Not violate Record Keeping Rules Development issues - Answer-Ethics Rule (conduct) - you must Be impartial, objective, independent w/out personal interest No bias Not advocate for interest of party No predetermined results Not misrepresent role Not use conclusions based on race, color, religion, national origin, gender, marital status, familial status, age, public assistance income, handicap Not be negligent Communication/reporting issues - Answer-Ethics Rule (conduct) - must not Intend to mislead Knowingly mislead results Knowingly allow someone to mislead Disclosure - Answer-Ethics Rule (conduct) - must disclose Current/prospective interest in subject/parties Services done on subject w/in 3 years - in certification If there's no appraisal report, only these are included If client & appraiser agree to not disclose services done to property - Answer-appraiser must decline all offers on that property for 3 years Management - appraiser must - Answer-Ethics Rule