Professional Ethics & Standards Flashcards
7 cards from real BCA practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Professional Ethics & Standards flashcards as text
Under BCA standards, which type of appraisal assignment requires the highest level of scope and documentation?
Answer: A conclusion of value used in federal court litigation
Litigation assignments, especially in federal court, require the most rigorous scope, documentation, and compliance with standards.
A BCA appraiser who co-signs a report prepared primarily by an unlicensed associate is:
Answer: Ethically required to disclose the associate's role in the certification
The signing appraiser must disclose any assistance received in the report certification, accepting responsibility for the work.
Which of the following is an acceptable way to handle a second request for an appraisal of the same subject by a different client?
Answer: Treat it as a new assignment with its own scope and certification
Each engagement is a separate assignment requiring its own analysis, effective date, and certification for the new client.
The BCA definition of 'hypothetical condition' in an appraisal refers to:
Answer: A condition that is assumed false for purposes of the analysis
A hypothetical condition is an assumption that is contrary to known facts but used for a specific analytical purpose.
A BCA appraiser who regularly performs appraisals for the same bank lender without disclosing the ongoing relationship is:
Answer: Violating disclosure requirements for business relationships
Ongoing business relationships with clients must be disclosed because they may impair or appear to impair the appraiser's independence.
Which of the following statements in an appraisal report would violate BCA ethical standards?
Answer: 'This appraisal was prepared to support the client's target selling price.'
Stating the report was prepared to support a predetermined price reveals impermissible advocacy and bias.
Under BCA professional standards, continuing education (CE) requirements exist primarily to:
Answer: Ensure credential holders remain current with evolving standards and practices
CE requirements ensure BCA credential holders stay current with changes in standards, methodologies, and professional practices.