Competency Rule

Prior to accepting an assignment or entering into an agreement to perform any assignment, an appraiser must properly identify the problem and have the knowledge and experience to complete the assignment competently; or alternatively, must:

1. disclose the lack of knowledge and/or experience to the client before accepting the assignment;

2. take all steps necessary or appropriate to complete the asignment competently; and

3. describe the lack of knowledge and/or experience and the steps taken to complete the assignment competently in the report.

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