A reviewer who identifies a Standards violation in a report under review:
Correct Answer
C) Reports the finding within the review's scope
Why this is correct: A reviewer's role is to develop and report an opinion about the work under review. Any identified Standards violation must be reported within the scope of the review assignment, as part of the review analysis. Why the other choices are wrong: Contacting the original appraiser first is not required; the review report addresses findings. Filing a complaint is a separate enforcement decision. Declining the review is unnecessary unless competency is lacking. Exam tip: Reviewers report violations within the review; enforcement referrals are a separate decision.
Why This Is the Correct Answer
Why this is correct: A reviewer's role is to develop and report an opinion about the work under review. Any identified Standards violation must be reported within the scope of the review assignment, as part of the review analysis. Why the other choices are wrong: Contacting the original appraiser first is not required; the review report addresses findings. Filing a complaint is a separate enforcement decision. Declining the review is unnecessary unless competency is lacking. Exam tip: Reviewers report violations within the review; enforcement referrals are a separate decision.
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?
If an appraiser uses a hypothetical condition that the subject property is 10% larger than it actually is, this must be:
Under Standard 1, when developing a real property appraisal, an appraiser must:
An appraiser accepts an assignment to appraise a specialized industrial property but has never appraised this property type before. To comply with the Competency Rule, the appraiser:
According to the Scope of Work Rule, the scope of work must be appropriate to the:
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An appraiser is developing an opinion of market value for a 20-unit apartment building. The appraiser finds three comparable sales with the following information: Sale 1: 18 units, sold for $1,800,000; Sale 2: 22 units, sold for $2,200,000; Sale 3: 24 units, sold for $2,280,000. What is the average price per unit for these comparables?
In developing a scope of work, an appraiser must consider all of the following factors EXCEPT:
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