API Flashcards

1
Q

What are the Rules of Professional Conduct?

A

They are an interpretation and application of the Code of Ethics, which identifies the minimum standard of professional conduct expected of all members

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2
Q

How many Rules of Professional Conduct are there?

A

There are 17 rules, first 9 apply to everyone and the last 8 apply to valuers.

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3
Q

What are 3 examples of Rules of Professional Conduct?

A

Professional and Personal Conduct
Conflict of Interest
Impartiality
Speaks about limitations of certain qualifications such as Students, RPVs and CPV residentials

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4
Q

What can you tell me about the IVS?

A

It has been recently updated at the start of 2024 and will come into effect 2025.

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5
Q

What is the IVS and what does it cover?

A

It is a key guide for valuation professionals globally. It includes general standards as well as asset specific standards.

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