After delivery, the client asks the appraiser to add a new party as an intended user. The appraiser should:
Correct Answer
C) Treat it as a new assignment, since intended users are set at the outset
Why this is correct: USPAP considers intended users a fundamental assignment condition set at the outset. Adding a user changes the assignment's premise, requiring a new engagement with its own agreement and certification, though it may rely on prior work. Why the other choices are wrong: "Simply forward the delivered report" violates confidentiality and misrepresents the original scope. "Add the party by letter" is insufficient; the original report was not prepared for that user. "Refuse, because intended users may never be changed" is wrong; they can be added via a new assignment. Exam tip: New intended user = new assignment. Never retroactively modify the original report's user list.
Why This Is the Correct Answer
Why this is correct: USPAP considers intended users a fundamental assignment condition set at the outset. Adding a user changes the assignment's premise, requiring a new engagement with its own agreement and certification, though it may rely on prior work. Why the other choices are wrong: "Simply forward the delivered report" violates confidentiality and misrepresents the original scope. "Add the party by letter" is insufficient; the original report was not prepared for that user. "Refuse, because intended users may never be changed" is wrong; they can be added via a new assignment. Exam tip: New intended user = new assignment. Never retroactively modify the original report's user list.
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:
According to Standard 1, when developing an opinion of market value, an appraiser must analyze:
A lender emails: 'We need at least $450,000 to make this loan work — can you take the assignment?' Accepting on that basis is:
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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