USPAP-Module 6

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Terms in this set (...)

Jurisdictional Exception:
An assignment condition established by applicable law or regulation, which precludes an appraiser from complying with a part of USPAP.
Except to the parties identified in the Confidentiality section of the ETHICS RULE, an appraiser must not disclose confidential information and what else?
Assignment results.
What triggers the use of a jurisdictional exception?
A conflict between the requirements of USPAP and the law or regulation of the jurisdiction.
When a law or regulation trumps the requirements of USPAP, which statement is true?
If any applicable law or regulation precludes compliance with any part of USPAP, only that part of USPAP becomes void for that assignment.
The JURISDICTIONAL EXCEPTION RULE provides a severability (Saving) clause. What does that mean?
It preserves the balance of USPAP if one or more of ts parts are determined to preclude compliance to a pertinent...
When considering the application of the JURISDICTIONAL EXCEPTION RULE in an assignment, an appraiser must be careful because...
a jurisdictional exception is a rare event.
In addition to disclosing the law or regulation that
precludes compliance with USPAP, what else is the appraiser obligated to disclose when a jurisdictional exception applies in an assignment?
Identify the part or parts of USPAP that are voided by the law or regulation.
An assignment condition established by applicable law or regulation that precludes an appraiser from complying with a part of USPAP is called...
a jurisdictional exception.
An appraiser determined that a regulation issued from a federal agency precluded compliance with a portion of USPAP. In this assignment the appraiser...
Must comply with the regulation.