An appraiser concludes mid-assignment that the collected data cannot support a credible opinion. What follows?
Correct Answer
A) Expand the scope of work or withdraw from it
Why this is correct: USPAP requires a credible opinion. If data is insufficient, the appraiser must expand the scope of work to obtain adequate data or withdraw if expansion is not permitted. Why the other choices are wrong: "Report the value with a broad limiting condition" is unacceptable as it does not ensure credibility. "Complete the assignment and flag it for review" fails to address the lack of credible data. "Substitute an automated model for the analysis" may not be appropriate or credible for the assignment. Exam tip: When data is insufficient, your options are to expand scope or withdraw; never compromise credibility.
Why This Is the Correct Answer
Why this is correct: USPAP requires a credible opinion. If data is insufficient, the appraiser must expand the scope of work to obtain adequate data or withdraw if expansion is not permitted. Why the other choices are wrong: "Report the value with a broad limiting condition" is unacceptable as it does not ensure credibility. "Complete the assignment and flag it for review" fails to address the lack of credible data. "Substitute an automated model for the analysis" may not be appropriate or credible for the assignment. Exam tip: When data is insufficient, your options are to expand scope or withdraw; never compromise credibility.
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