An appraiser agrees to submit an appraisal report based upon a predetermined value for a client. The appraiser is subject to which of the following actions by the commission?

An appraiser agrees to submit an appraisal report based upon a predetermined value for a client. The appraiser is subject to which of the following actions by the commission?

• A. No action by the commission
• B. Suspension of license for incompetent practice
• C. A fine of $5,000
• D. A one year jail sentence

Answer: (B)

In this scenario, the appraiser is violating ethical standards and regulations by agreeing to provide an appraisal report based on a predetermined value. This situation reflects a lack of objectivity and independence that is essential for a credible appraisal. Appraisers are required to develop their opinions of value based on the market and factual data, rather than being influenced by predetermined amounts set by clients. When an appraiser deviates from these standards, it opens the door to potential disciplinary actions by the licensing commission responsible for overseeing appraisers. Suspension of a license for incompetent practice is a serious consequence intended to maintain the integrity of the profession and to protect the public from unreliable appraisals. This action serves to ensure that appraisers are held accountable for conducting their evaluations in a professional and unbiased manner.

In this scenario, the appraiser is violating ethical standards and regulations by agreeing to provide an appraisal report based on a predetermined value. This situation reflects a lack of objectivity and independence that is essential for a credible appraisal. Appraisers are required to develop their opinions of value based on the market and factual data, rather than being influenced by predetermined amounts set by clients.

When an appraiser deviates from these standards, it opens the door to potential disciplinary actions by the licensing commission responsible for overseeing appraisers. Suspension of a license for incompetent practice is a serious consequence intended to maintain the integrity of the profession and to protect the public from unreliable appraisals. This action serves to ensure that appraisers are held accountable for conducting their evaluations in a professional and unbiased manner.