A reviewer disagrees with an original appraiser's value but finds the work compliant and well supported. The review should:
Correct Answer
B) Report the compliance finding and any separate value opinion clearly
Why this is correct: A review assignment has two potential components: evaluating the completeness and compliance of the original work, and potentially developing the reviewer's own opinion. These are separate conclusions. The report must clearly communicate both the compliance finding and any separate value opinion. Why the other choices are wrong: Reporting only the reviewer's independent value omits the required evaluation of the original report's compliance. Declaring the original report non-compliant is incorrect if the work was found to be compliant and well-supported. Declining to state any conclusion fails to meet the objectives of the review assignment. Exam tip: In a review, you can agree with the work but disagree with the value. Report both findings distinctly: 'The report complies, but my opinion of value is X.'
Why This Is the Correct Answer
Why this is correct: A review assignment has two potential components: evaluating the completeness and compliance of the original work, and potentially developing the reviewer's own opinion. These are separate conclusions. The report must clearly communicate both the compliance finding and any separate value opinion. Why the other choices are wrong: Reporting only the reviewer's independent value omits the required evaluation of the original report's compliance. Declaring the original report non-compliant is incorrect if the work was found to be compliant and well-supported. Declining to state any conclusion fails to meet the objectives of the review assignment. Exam tip: In a review, you can agree with the work but disagree with the value. Report both findings distinctly: 'The report complies, but my opinion of value is X.'
More USPAP Questions
Which type of appraisal report may contain the appraiser's analyses, opinions, and conclusions but is intended for use by the client only?
How long must an appraiser retain the workfile for an appraisal assignment under USPAP?
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In developing a scope of work, an appraiser must consider all of the following factors EXCEPT:
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