An appraiser knows of prior services concerning the subject property, and no confidentiality agreement prevents disclosure of their occurrence. Under the 2024 USPAP Ethics Rule, which prior services must be disclosed to the client and in each subsequent report certification?
Correct Answer
D) Any service regarding it, in any capacity, in the prior three years
Disclose known services concerning the subject performed as an appraiser or in another capacity during the three years before agreement, to the client and in subsequent report certification. If confidentiality prevents disclosing even the occurrence of a prior assignment, the appraiser cannot silently omit the required disclosure and proceed.
Why This Is the Correct Answer
Disclose known services concerning the subject performed as an appraiser or in another capacity during the three years before agreement, to the client and in subsequent report certification. If confidentiality prevents disclosing even the occurrence of a prior assignment, the appraiser cannot silently omit the required disclosure and proceed.
More USPAP Questions
Under USPAP, what are assignment results?
The certification required by Standards Rule 2-3 must be signed by:
Under 2024 USPAP, which statement correctly combines the requirements for an oral real property appraisal report and its workfile?
An appraiser accepts an assignment involving a property type the appraiser has valued once before, years ago. Competency requires:
A Certified General appraiser is asked to value a specialized industrial property for the first time. The appraiser knows a competency gap exists before agreeing to the assignment. What is required if the appraiser proceeds?
Under 2024 USPAP Standard 1, which listed assignment element must be identified in developing a real property appraisal?
An appraiser provided an appraisal of the same property for another client 18 months ago. No confidentiality obligation prevents disclosing the fact of that service. Before agreeing to a new assignment, the appraiser must:
According to USPAP, what is the primary purpose of the Ethics Rule?
An appraiser is asked to determine 'fair market value' for an assignment. According to USPAP, the appraiser should:
Which list gives the sections of the 2024 USPAP Ethics Rule?
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