McKissock USPAP Chapter 4with perfect solutions 2024

What does the ethics rule establish? correct answersEstablishes fundamental obligations of an appraiser as part of the profession Ethics Rule correct answersAn 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 answersAn 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 answersIndividual Appraisers Sections of Ethics Rule correct answers-Conduct -Management -Confidentiality 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 answersIf 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 answers3 years Payment of Fees in Ethics Rule correct answersAn 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