A client asks the appraiser to readdress a completed report to a new lender. What does USPAP require?
Correct Answer
B) Treating it as a new assignment for that client
Why this is correct: USPAP requires treating it as a new assignment for that client. The identity of the intended user is fundamental to the scope of work and cannot be changed after the fact. A new user means a new assignment, as the original explanation states. Why the other choices are wrong: You cannot simply change the addressee and reissue it. You cannot just obtain the original client's consent; the work was performed for a different user. You cannot add the new lender as an intended user later. Exam tip: The intended user is identified at the start of an assignment. If a different user needs the appraisal, it's a new assignment with a new scope of work and effective date.
Why This Is the Correct Answer
Why this is correct: USPAP requires treating it as a new assignment for that client. The identity of the intended user is fundamental to the scope of work and cannot be changed after the fact. A new user means a new assignment, as the original explanation states. Why the other choices are wrong: You cannot simply change the addressee and reissue it. You cannot just obtain the original client's consent; the work was performed for a different user. You cannot add the new lender as an intended user later. Exam tip: The intended user is identified at the start of an assignment. If a different user needs the appraisal, it's a new assignment with a new scope of work and effective date.
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