An appraiser may not advertise in a manner that is:
Correct Answer
D) False, misleading or exaggerated
Why this is correct: The Ethics Rule prohibits false, misleading, or exaggerated advertising, just as it prohibits false or misleading reporting. This ensures public trust in the profession. Why the other choices are wrong: 'Distributed electronically to clients' is wrong because the method of distribution is not restricted. 'Directed at a single market segment' is wrong because targeted marketing is permissible. 'Written in more than one language' is wrong because multilingual communication is allowed. Exam tip: The standard for advertising is truthfulness. Any claim about experience, services, or fees must be accurate.
Why This Is the Correct Answer
Why this is correct: The Ethics Rule prohibits false, misleading, or exaggerated advertising, just as it prohibits false or misleading reporting. This ensures public trust in the profession. Why the other choices are wrong: 'Distributed electronically to clients' is wrong because the method of distribution is not restricted. 'Directed at a single market segment' is wrong because targeted marketing is permissible. 'Written in more than one language' is wrong because multilingual communication is allowed. Exam tip: The standard for advertising is truthfulness. Any claim about experience, services, or fees must be accurate.
More USPAP Questions
Which type of appraisal report may contain the appraiser's analyses, opinions, and conclusions but is intended for use by the client only?
How long must an appraiser retain the workfile for an appraisal assignment under USPAP?
If an appraiser uses a hypothetical condition that the subject property is 10% larger than it actually is, this must be:
Under Standard 1, when developing a real property appraisal, an appraiser must:
An appraiser accepts an assignment to appraise a specialized industrial property but has never appraised this property type before. To comply with the Competency Rule, the appraiser:
According to the Scope of Work Rule, the scope of work must be appropriate to the:
According to Standard 1, when developing an opinion of market value, an appraiser must analyze:
A lender emails: 'We need at least $450,000 to make this loan work — can you take the assignment?' Accepting on that basis is:
An appraiser is developing an opinion of market value for a 20-unit apartment building. The appraiser finds three comparable sales with the following information: Sale 1: 18 units, sold for $1,800,000; Sale 2: 22 units, sold for $2,200,000; Sale 3: 24 units, sold for $2,280,000. What is the average price per unit for these comparables?
In developing a scope of work, an appraiser must consider all of the following factors EXCEPT:
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