Which is not a required USPAP certification element?
Correct Answer
C) A detailed cost breakdown of the appraisal fee
The SR 2-3 certification includes statements about USPAP conformity, no present or prospective interest (or the specified interest), no bias, compensation not contingent on a predetermined result, whether the appraiser personally inspected the property, and significant real property appraisal assistance. Prior services within three years must also be disclosed. A detailed breakdown of the appraisal fee is not a required certification element.
Why This Is the Correct Answer
Option C is correct because the SR 2-3 certification covers statements about USPAP conformity, no present or prospective interest or the specified interest, no bias, compensation not contingent on a predetermined result, whether the appraiser personally inspected the property, and significant real property appraisal assistance. A detailed cost breakdown of the appraisal fee is not one of these required elements.
Why the Other Options Are Wrong
Option A: The required statement concerning USPAP conformity
Option A, the statement concerning USPAP conformity, is a required certification element, so it does not answer a question asking what is not required.
Option B: The required statement concerning interests and bias
Option B, the statement concerning interests and bias, is a required certification element, so it is not the item that is missing from the requirements.
Option D: The required personal-inspection statement
Option D, the personal-inspection statement, is required because the certification must say whether the appraiser personally inspected the property, so it is not the correct choice here.
Certify conduct, not costs
The certification vouches for how the appraiser behaved, not for how the fee was itemized.
How to use: Use this to eliminate certification choices that concern billing details.
Exam Tip
On 'which is not' questions, confirm each option against the rule and pick the one that falls outside it.
Common Mistakes to Avoid
- -Treating fee details as a certification requirement
- -Forgetting that the certification must address personal inspection
- -Overlooking the contingent compensation statement
Concept Deep Dive
Analysis
This is a negative question: find the item that is not a required certification element. Recall what the SR 2-3 certification covers, including USPAP conformity, interest and bias, and personal inspection. A breakdown of the appraisal fee is not among them.
Background Knowledge
The certification is the appraiser's signed statement about the integrity of the assignment. It addresses compliance, impartiality, compensation conditions, inspection and assistance received, and prior services within three years must also be disclosed.
Real-World Application
A reviewer checks a residential report's certification and confirms it addresses inspection, interest, bias and contingent compensation. The fee itself appears in the engagement documents, not as a certification statement.
More USPAP Questions
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A client asks an appraiser to raise a completed report’s value conclusion by $15,000 solely to match the contract price, without providing new evidence. What should the appraiser do?
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