USPAP USPAP Ethics Rule

Question 1

Under the USPAP Ethics Rule, which of the following actions is considered a violation of the Conduct section?

Accepted Answer

Accepting an assignment contingent on a predetermined value

Answer

The Ethics Rule prohibits appraisers from accepting assignments with compensation contingent on a predetermined value or direction in value.

Question 2

The Confidentiality section of the USPAP Ethics Rule requires appraisers to protect:

Accepted Answer

Confidential information and assignment results from unauthorized parties

Answer

The Confidentiality section obligates appraisers to protect confidential information and assignment results from unauthorized disclosure.

Question 3

Which USPAP Ethics Rule section addresses an appraiser's obligation to avoid false or misleading reports?

Accepted Answer

Conduct section

Answer

The Conduct section of the Ethics Rule prohibits appraisers from communicating assignment results in a misleading or fraudulent manner.

Question 4

Under USPAP, an appraiser who pays a referral fee to a real estate agent for appraisal assignments is violating which section of the Ethics Rule?

Accepted Answer

Management

Answer

The Management section of the Ethics Rule prohibits paying undisclosed fees, commissions, or kickbacks to obtain appraisal assignments.

Question 5

According to the Ethics Rule, an appraiser may share confidential assignment results WITHOUT violating USPAP when:

Accepted Answer

Required by due process of law

Answer

USPAP allows disclosure of confidential information when required by due process of law or with client permission.

USPAP Exam Practice Test