Professional Standards & Ethics Flashcards
7 cards from real CAR 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 Standards & Ethics flashcards as text
A review appraiser is asked to sign a review report prepared by a trainee. Under USPAP, the signing reviewer is responsible for:
Answer: The entire content of the report and ensuring USPAP compliance
A supervisor who signs a review report prepared by a trainee accepts full responsibility for the entire report and must ensure it complies with USPAP in all respects.
The 'intended use' of an appraisal review must be identified because it:
Answer: Defines the scope of work and reporting requirements appropriate for the assignment
Identifying intended use is required by USPAP because it drives scope of work decisions and determines what level of detail and analysis is appropriate for the review report.
Which scenario represents a violation of USPAP's prohibition against 'advocacy' in appraisal review?
Answer: A reviewer consistently finds reviews supportable for clients who are known to prefer high values
Consistently reaching conclusions that favor a client's preferred outcome demonstrates advocacy rather than objectivity, violating USPAP's prohibition against bias in appraisal review.
Under USPAP, an appraisal reviewer who discovers post-assignment that they had an undisclosed conflict of interest should:
Answer: Notify the client and determine appropriate corrective action
Discovering an undisclosed conflict after assignment completion requires notifying the client promptly so they can determine the appropriate course of action, which may include rescinding the review.
The AI's Code of Professional Ethics requires members to avoid conduct that is 'detrimental to the public.' In the context of appraisal review, this most directly prohibits:
Answer: Issuing review opinions that support inflated values for personal financial gain
Issuing biased review opinions that support inflated or unsupported values for personal gain directly harms the public and violates the AI's prohibition against conduct detrimental to public trust.
A review appraiser receives a completed appraisal review work file request under a subpoena. Under USPAP's Confidentiality section, the reviewer:
Answer: May produce the file because legal process is an authorized disclosure exception
USPAP's Confidentiality section permits disclosure of confidential information when required by a legal process such as a subpoena, making this an authorized exception to the general prohibition.
According to USPAP, which statement about the reviewer's obligation to their client versus the public is correct?
Answer: Reviewers must serve clients but not at the expense of their duty to the public and the profession
USPAP establishes a dual obligation: reviewers serve their clients but must not compromise public trust in appraisal practice, and client instructions cannot override this broader professional duty.