RPA Report Writing & Ethical Standards 2

Question 1

Under USPAP's Ethics Rule, which action constitutes a violation of the Conduct section?

Accepted Answer

Accepting an assignment with a contingent fee based on a stipulated value

Answer

Accepting compensation contingent on a stipulated value outcome is an explicit violation of USPAP's Conduct section of the Ethics Rule.

Question 2

A Restricted Appraisal Report is appropriate when:

Accepted Answer

The intended use is client-use only and the client does not need supporting details in the report

Answer

A Restricted Appraisal Report is used when the client is the sole intended user and does not require detailed supporting information within the report itself.

Question 3

Which USPAP Standard addresses the development and reporting of real property appraisals?

Accepted Answer

Standards 1 and 2

Answer

USPAP Standards 1 and 2 govern the development and reporting of real property appraisals, respectively.

Question 4

When an appraiser discovers a prior appraisal assignment on the subject property, USPAP requires the appraiser to:

Accepted Answer

Disclose the prior service in the certification

Answer

USPAP's Ethics Rule requires disclosure of prior services on a subject property within the certification of the current report.

Question 5

The term 'scope of work' in an appraisal report refers to:

Accepted Answer

The type and extent of research and analysis applied in the assignment

Answer

Scope of work describes the type and extent of research, data collection, and analysis the appraiser performs to produce credible results.

(RPA) Real Property Appraiser Certification Practice Test

(RPA) Real Property Appraiser Certification Practice Test

RPA Report Writing & Ethical Standards 2