Professional Standards & Ethics Flashcards
7 cards from real CAR practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Professional Standards & Ethics flashcards as text
Under the Uniform Standards of Professional Appraisal Practice (USPAP), a 'desk review' is best characterized as:
Answer: A review performed without physically inspecting the subject property or comparable sales
A desk review is conducted entirely from the reviewer's office without any property inspection, relying solely on the information contained in the report and available data.
When a CAR review appraiser signs a certification in an appraisal review report, they are certifying that:
Answer: The reviewer's opinions and conclusions are their own and free from bias
The USPAP certification in a review report confirms that the reviewer's opinions are their own, unbiased, made in good faith, and comply with USPAP requirements.
A reviewer who simultaneously works as a loan officer for the same bank that ordered the appraisal review faces which primary ethical concern?
Answer: Conflict of interest
Holding dual roles where the reviewer's financial interest in the loan outcome could influence the review conclusion creates a direct conflict of interest under USPAP's Ethics Rule.
Which of the following actions by a review appraiser would violate the Confidentiality section of USPAP's Ethics Rule?
Answer: Sharing the reviewed appraisal report with a competing lender without client authorization
USPAP prohibits reviewers from disclosing confidential information or assignment results to third parties not authorized by the client or permitted by law.
Under AI's Code of Professional Ethics, what obligation does a review appraiser have if they discover the original appraisal contains intentional misrepresentation?
Answer: Report the finding through appropriate channels and document it in the review
Professional ethics codes require reviewers to document findings of intentional misrepresentation and report through appropriate channels such as state licensing boards or professional associations.
In an appraisal review, 'scope of work' decisions must be made BEFORE beginning the assignment primarily because:
Answer: Predetermined scope prevents cherry-picking procedures to reach a desired outcome
Establishing scope of work before beginning prevents reviewers from selecting only those procedures that support a predetermined conclusion, protecting the integrity of the review.
A state-certified review appraiser completes an appraisal review that is later found to violate USPAP. Who bears primary responsibility?
Answer: The review appraiser who performed and signed the review
The review appraiser who signs the certification is personally responsible for compliance with USPAP, regardless of client instructions or the original appraiser's conduct.