Professional Ethics in Real Estate

To whom this Professional Rules of Ethics and Responsibilities applies? “The practitioner shall fully and truthfully disclose all pertinent and material facts involved in the engagement”.

• The Government

• General Public

• Client

• AIPO

In professional practice, which of the following will address the ethical competency obligations of the valuers/Real estate Appraisers?

• Ethical Conduct

• Code of Conduct

• Professional Conduct

• Code of Ethics for Real Estate Service Practitioners

Which of these is not part of the PVS Code of Conduct for the appraisers?

• Confidentiality

• Integrity

• Conflict of Interest

• Collaboration

The IVS basis for developing national valuation standards in the Philippines?

• 7th edition 2008

• 8th edition 2007

• 9th edition 2017

• 8th edition 2008

PARA means:

• Philippine Association of Realty Appraiser

• Philippine's Association of Realty Appraisers

• Philippine Association of Real Estate Appraisers

• Philippine Association of Real Estate Appraisers

Head Quarters of IVSC:

• Ireland

• United Kingdom

• Germany

• Switzerland

Key Objectives of the IVS Development, except:

• To facilitate cross-border transactions and contribute to the viability of international property markets.

• To serve as a professional benchmark, or beacon, for Valuers around the world.

• To regulate real estate appraisers in their valuation work globally.

• To provide Standards of valuation and financial reporting that meet the needs of emerging and newly industrialized countries.

The three principal elements of the International Valuation Standards, i.e., the Standards, Code of Conduct and Guidance Notes, have equal weight.

• True

• False

• Sometimes

• All the time

Guidance Note 3 of PVS 2009:

• Real Property Valuation

• Valuation of Lease Interests

• Valuation of Plant, Machinery and Equipment

• Valuation of Personal Property

Employed by the entity owning the assets or the accounting firm responsible for financial records and reports.

• Internal Valuer

• External Valuer

• Inhouse Valuer

• Professional Valuer