FREE ASA Ethics & Professional Standards Questions and Answers

Question 1

Why is impartiality critical in appraisal practice?

Accepted Answer

To uphold credibility and public trust

Answer

To make clients happy

Answer

To win business awards

Answer

To avoid data collection

Question 2

Which document outlines ethical obligations of ASA appraisers?

Accepted Answer

ASA Code of Ethics

Answer

Business charter

Answer

USPAP

Answer

Operating manual

Question 3

What must an appraiser do when faced with a conflict of interest?

Accepted Answer

Disclose to relevant parties

Answer

Ignore the conflict

Answer

Seek legal advice only

Answer

Change the assignment

Question 4

What is the purpose of confidentiality in appraisal practice?

Accepted Answer

To protect client information

Answer

To reduce paperwork

Answer

To promote transparency

Answer

To speed up inspections

Question 5

Which of the following is considered unethical for an appraiser?

Accepted Answer

Advocating for a client's interest

Answer

Using accepted valuation methods

Answer

Explaining assumptions clearly

Answer

Reporting factual data

Question 6

What is a core responsibility of an ASA-certified appraiser?

Accepted Answer

Stay current and competent

Answer

Outsource all reports

Answer

Provide quick estimates

Answer

Minimize research