Certified Residential Appraiser Practice Exam

An appraiser must disclose any service provided regarding the subject property for how long prior to agreeing to perform the assignment?

1. One year

2. Three years

3. Five years

4. Two years

The correct answer is: Three years

An appraiser must disclose any services provided regarding the subject property for a period of three years prior to agreeing to perform the assignment. This requirement is in place to uphold the highest standards of professional responsibility and integrity, ensuring that potential conflicts of interest are transparent to all parties involved. This disclosure period allows clients and users of appraisal reports to assess the objectivity and independence of the appraiser. By adhering to this three-year window, appraisers actively contribute to maintaining public trust in the appraisal process. It's essential for appraisers to be aware of and compliant with the ethical guidelines set by professional organizations and regulatory bodies, which often mandate such disclosures to protect the integrity of appraisals and the interests of clients.