To whom may an appraiser disclose confidential assignment results without the client's authorization?
Correct Answer
B) Persons authorized by law, and duly authorized peer-review committees
Why this is correct: The Confidentiality section of the Ethics Rule permits disclosure without client consent to persons authorized by law (e.g., via subpoena) and to duly authorized peer-review committees, provided the reviewers also maintain confidentiality. These are specific, carved-out exceptions. Why the other choices are wrong: Disclosure to any licensed appraiser is not permitted. The listing agent is not an authorized party. Disclosure is allowed in the specified exceptions; it is not an absolute prohibition requiring a court order for all cases. Exam tip: Memorize the four exceptions: client's designees, due process of law, state enforcement bodies, and confidential peer review.
Why This Is the Correct Answer
Why this is correct: The Confidentiality section of the Ethics Rule permits disclosure without client consent to persons authorized by law (e.g., via subpoena) and to duly authorized peer-review committees, provided the reviewers also maintain confidentiality. These are specific, carved-out exceptions. Why the other choices are wrong: Disclosure to any licensed appraiser is not permitted. The listing agent is not an authorized party. Disclosure is allowed in the specified exceptions; it is not an absolute prohibition requiring a court order for all cases. Exam tip: Memorize the four exceptions: client's designees, due process of law, state enforcement bodies, and confidential peer review.
More USPAP Questions
Which statement best defines a hypothetical condition under USPAP?
According to the Competency Rule, if an appraiser lacks the knowledge and experience to complete an assignment competently, which action is NOT acceptable?
An appraiser runs only the sales comparison approach on a standard tract home and omits the cost and income approaches. Under Standard 1 this is:
A value opinion for a subdivision as if fully built out two years from now is what kind of assignment, and what does it require?
A hypothetical condition differs from an extraordinary assumption in that a hypothetical condition:
An appraiser must disclose in the certification whether they have:
A client-imposed requirement — 'use only comps from our approved list' — is best described as:
Under Standard 1, when developing a real property appraisal, an appraiser must:
The certification required by Standards Rule 2-3 must be signed by:
According to Standard 1, when developing an opinion of market value, an appraiser must analyze:
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