diff --git a/python/src/com/jetbrains/python/psi/PyElementVisitor.java b/python/src/com/jetbrains/python/psi/PyElementVisitor.java
index e934476fae4c..a576ade506bd 100644
--- a/python/src/com/jetbrains/python/psi/PyElementVisitor.java
+++ b/python/src/com/jetbrains/python/psi/PyElementVisitor.java
@@ -245,4 +245,8 @@ public class PyElementVisitor extends PsiElementVisitor {
   public void visitPyBoolLiteralExpression(final PyBoolLiteralExpression node) {
     visitPyElement(node);
   }
+
+  public void visitPyConditionalExpression(PyConditionalExpression node) {
+    visitPyElement(node);
+  }
 }
diff --git a/python/src/com/jetbrains/python/psi/impl/PyConditionalExpressionImpl.java b/python/src/com/jetbrains/python/psi/impl/PyConditionalExpressionImpl.java
index 6eee1d51ca41..061b3c5117cb 100644
--- a/python/src/com/jetbrains/python/psi/impl/PyConditionalExpressionImpl.java
+++ b/python/src/com/jetbrains/python/psi/impl/PyConditionalExpressionImpl.java
@@ -3,6 +3,7 @@ package com.jetbrains.python.psi.impl;
 import com.intellij.lang.ASTNode;
 import com.intellij.psi.util.PsiTreeUtil;
 import com.jetbrains.python.psi.PyConditionalExpression;
+import com.jetbrains.python.psi.PyElementVisitor;
 import com.jetbrains.python.psi.PyExpression;
 import com.jetbrains.python.psi.types.PyType;
 import com.jetbrains.python.psi.types.PyUnionType;
@@ -45,4 +46,9 @@ public class PyConditionalExpressionImpl extends PyElementImpl implements PyCond
     final List<PyExpression> expressions = PsiTreeUtil.getChildrenOfTypeAsList(this, PyExpression.class);
     return expressions.size() == 3 ? expressions.get(2) : null;
   }
+
+  @Override
+  protected void acceptPyVisitor(PyElementVisitor pyVisitor) {
+    pyVisitor.visitPyConditionalExpression(this);
+  }
 }
diff --git a/python/src/com/jetbrains/python/validation/CompatibilityVisitor.java b/python/src/com/jetbrains/python/validation/CompatibilityVisitor.java
index 38728fc4e53e..f9a5dd7e769b 100644
--- a/python/src/com/jetbrains/python/validation/CompatibilityVisitor.java
+++ b/python/src/com/jetbrains/python/validation/CompatibilityVisitor.java
@@ -386,8 +386,6 @@ public abstract class CompatibilityVisitor extends PyAnnotator {
     if (PydevConsoleRunner.isInPydevConsole(node)) return;
     if (myVersionsToProcess.contains(LanguageLevel.PYTHON24)) {
       PyExpression assignedValue = node.getAssignedValue();
-      if (assignedValue instanceof PyConditionalExpression)                        // PY-2792
-        registerProblem(node, "Python version 2.4 doesn't support this syntax.");
 
       Stack<PsiElement> st = new Stack<PsiElement>();           // PY-2796
       if (assignedValue != null)
@@ -405,6 +403,15 @@ public abstract class CompatibilityVisitor extends PyAnnotator {
     }
   }
 
+  @Override
+  public void visitPyConditionalExpression(PyConditionalExpression node) {   //PY-4293
+    super.visitPyConditionalExpression(node);
+    if (PydevConsoleRunner.isInPydevConsole(node)) return;
+    if (myVersionsToProcess.contains(LanguageLevel.PYTHON24)) {
+      registerProblem(node, "Python version 2.4 doesn't support this syntax.");
+    }
+  }
+
   @Override
   public void visitPyTryExceptStatement(PyTryExceptStatement node) { // PY-2795
     super.visitPyTryExceptStatement(node);
diff --git a/python/testData/inspections/PyCompatibilityInspection/assignmentStatement.py b/python/testData/inspections/PyCompatibilityInspection/assignmentStatement.py
index 1910ccad01a9..c015d246e1dc 100644
--- a/python/testData/inspections/PyCompatibilityInspection/assignmentStatement.py
+++ b/python/testData/inspections/PyCompatibilityInspection/assignmentStatement.py
@@ -1,5 +1,5 @@
 # PY-2792
-<warning descr="Python version 2.4 doesn't support this syntax.">x = True if condition else False</warning>
+x = <warning descr="Python version 2.4 doesn't support this syntax.">True if condition else False</warning>
 
 def foo():    # PY-2796
   <warning descr="Python version 2.4 doesn't support this syntax. In Python <= 2.4, yield was a statement; it didn't return any value.">a = (yield 1)</warning>
diff --git a/python/testData/inspections/PyCompatibilityInspection/conditionalExpression.py b/python/testData/inspections/PyCompatibilityInspection/conditionalExpression.py
new file mode 100644
index 000000000000..25936836e30b
--- /dev/null
+++ b/python/testData/inspections/PyCompatibilityInspection/conditionalExpression.py
@@ -0,0 +1,9 @@
+# PY-4293
+def test_conditional_expression(val):
+  x = <warning descr="Python version 2.4 doesn't support this syntax.">'Yes' if val else 'No'</warning>
+  return <warning descr="Python version 2.4 doesn't support this syntax.">'Yes' if val else 'No'</warning>
+
+def f(arg):
+  pass
+
+f(<warning descr="Python version 2.4 doesn't support this syntax.">1 if True else 2</warning>)
\ No newline at end of file
diff --git a/python/testData/inspections/PyCompatibilityInspection/test.py b/python/testData/inspections/PyCompatibilityInspection/test.py
deleted file mode 100644
index 3fe5bce0e1a2..000000000000
--- a/python/testData/inspections/PyCompatibilityInspection/test.py
+++ /dev/null
@@ -1,101 +0,0 @@
-print(<warning descr="Python version 3.0, 3.1 do not support <>, use != instead.">a <> b</warning>)
-
-if <warning descr="Python version 3.0, 3.1 do not support <>, use != instead.">a <> 2</warning>:
-  var = a
-########################
-
-<warning descr="Python version >= 3.0 do not support this syntax. The print statement has been replaced with a print() function">print "One value"</warning>
-
-########################
-
-#PY-2719
-class BaseC<warning descr="Python version 2.4 does not support this syntax.">()</warning>:
-    pass
-
-########################
-
-<warning descr="Python version 2.4 doesn't support this syntax.">with A() as a, <warning descr="Python version 2.5, 2.6, 3.0 do not support multiple context managers">B() as b</warning>:
-    suite
-
-</warning>########################
-a = <warning descr="Python version 3.0, 3.1 do not support backquotes, use repr() instead">`imp.acquire_lock()`</warning>
-
-########################
-var = [x for x in <warning descr="Python version 3.0, 3.1 do not support this syntax in list comprehensions.">1, 2, 3</warning>]
-
-########################
-class A:
-  def cmp(self):
-    pass
-
-a = A()
-a.cmp()
-
-########################
-
-<warning descr="Python version 3.1 does not have method cmp">cmp()</warning>
-<warning descr="Python version 3.0, 3.1 do not have method reduce">reduce()</warning>
-<warning descr="Python version 2.4 does not have method all">all()</warning>
-
-bytearray()
-next()
-<warning descr="Python version 3.0, 3.1 do not have method buffer">buffer()</warning>
-
-########################
-try:
-  a
-except :
-  <warning descr="Python version 3.0, 3.1 do not support this syntax.">raise ImportError, ImportWarning</warning>
-
-
-try:
-  a
-<warning descr="Python version 3.0, 3.1 do not support this syntax.">except ImportError, ImportWarning:
-  b
-
-
-
-</warning>########################
-
-var = <warning descr="Python version 2.4, 2.5, 2.6, 3.0 do not support dictionary comprehensions">{i : chr(65+i) for i in range(4)}</warning>
-
-########################
-
-<warning descr="Python version 3.0, 3.1 do not have module Bastion">import Bastion</warning>
-var = Bastion.BastionClass()
-
-########################
-def foo():    # PY-2796
-  <warning descr="Python version 2.4 doesn't support this syntax. In Python <= 2.4, yield was a statement; it didn't return any value.">a = (yield 1)</warning>
-
-########################
-
-<warning descr="Python version 3.0, 3.1 do not support this syntax. Raise with no arguments can only be used in an except block">raise</warning>
-
-########################
-# PY-2792
-<warning descr="Python version 2.4 doesn't support this syntax.">x = True if condition else False</warning>
-
-########################
-# PY-2792
-
-def unified_tef():
-    <warning descr="Python version 2.4 doesn't support this syntax. You could use a finally block to ensure that code is always executed, or one or more except blocks to catch specific exceptions.">try:
-        pass
-    except ImportError:
-        pass
-    except KeyError:
-        pass
-    else:
-        pass
-    finally:
-        pass
-
-</warning>########################
-# PY-2797
-
-<warning descr="Python version 2.4 doesn't support this syntax.">with open("x.txt") as f:
-    data = f.read()
-</warning>########################
-
-<warning descr="Python version 2.4 doesn't support this syntax.">from .module import name1, name2</warning>
\ No newline at end of file
diff --git a/python/testSrc/com/jetbrains/python/PythonInspectionsTest.java b/python/testSrc/com/jetbrains/python/PythonInspectionsTest.java
index 5579559a26b9..2608b3fdbd7c 100644
--- a/python/testSrc/com/jetbrains/python/PythonInspectionsTest.java
+++ b/python/testSrc/com/jetbrains/python/PythonInspectionsTest.java
@@ -296,11 +296,6 @@ public class PythonInspectionsTest extends PyLightFixtureTestCase {
     doHighlightingTest(PyListCreationInspection.class);
   }
 
-  public void testPyCompatibilityInspection() {
-    setLanguageLevel(LanguageLevel.PYTHON27);
-    doHighlightingTest(PyCompatibilityInspection.class);
-  }
-
   public void testPyStringFormatInspection1() {    //PY-2836
     doHighlightingTest(PyStringFormatInspection.class);
   }
diff --git a/python/testSrc/com/jetbrains/python/inspections/PyCompatibilityInspectionTest.java b/python/testSrc/com/jetbrains/python/inspections/PyCompatibilityInspectionTest.java
index a887888f0da8..0a005fb46763 100644
--- a/python/testSrc/com/jetbrains/python/inspections/PyCompatibilityInspectionTest.java
+++ b/python/testSrc/com/jetbrains/python/inspections/PyCompatibilityInspectionTest.java
@@ -106,6 +106,9 @@ public class PyCompatibilityInspectionTest extends PyLightFixtureTestCase {
     doTest();
   }
 
+  public void testConditionalExpression() {
+    doTest();
+  }
 
   private void doTest() {
     myFixture.configureByFile("inspections/PyCompatibilityInspection/" + getTestName(true) + ".py");