An appraiser leaves a firm. The workfiles for her signed reports must:
Correct Answer
C) Remain accessible to her — custody arrangements must let her meet retention duties
The appraiser needs custody or appropriate retention, access and retrieval arrangements for the required period. Leaving an employer does not terminate personal USPAP recordkeeping duties; ownership of the file and access obligations are different questions.
Why This Is the Correct Answer
Option C is correct because USPAP requires an appraiser to have custody of the workfile or make appropriate workfile retention, access and retrieval arrangements with the party having custody. Leaving the firm does not end her recordkeeping duties for reports she signed. Who owns the file and whether she can access it are different questions.
Why the Other Options Are Wrong
Option A: Stay with the firm permanently, because the firm owns all of its workfiles outright
Option A is wrong because saying the files stay with the firm permanently because the firm owns them outright misses the point. Even if the firm keeps the files, she must have arrangements that let her access and retrieve them for the retention period.
Option B: Be destroyed to protect confidentiality
Option B is wrong because destroying the workfiles to protect confidentiality would violate retention requirements. Confidentiality is protected by safeguarding files, not destroying them.
Option D: Be filed with the state appraisal board
Option D is wrong because USPAP does not require filing workfiles with the state appraisal board. Workfiles are retained by the appraiser or under her access arrangements and produced when properly requested.
Your signature, your file duty
If you signed it, you remain responsible for access to its workfile, wherever it is stored.
How to use: Use this when a question involves an appraiser leaving a firm or a firm holding workfiles.
Exam Tip
Choose answers that preserve the appraiser's access and retention arrangements rather than destroying, surrendering or filing away the workfiles.
Common Mistakes to Avoid
- -Believing employer ownership ends the appraiser's duty
- -Destroying workfiles in the name of confidentiality
- -Thinking workfiles must be filed with a state board
Concept Deep Dive
Analysis
This question tests the Record Keeping Rule when an appraiser changes employers. The duty to retain workfiles is personal to the appraiser. The appraiser must either have custody or make arrangements for retention, access and retrieval with whoever does.
Background Knowledge
The Record Keeping Rule requires a workfile for each appraisal or review assignment, retained for the required period and made available when required. When others hold custody, the appraiser must have retention, access and retrieval arrangements. This matters when appraisers change jobs or firms close.
Real-World Application
Before leaving a regional appraisal firm, an appraiser signs a written agreement with the firm allowing her to retrieve copies of her workfiles for the retention period. Two years later, a state board requests a file and she obtains it under that agreement.
More USPAP Questions
Under USPAP, what are assignment results?
The certification required by Standards Rule 2-3 must be signed by:
Under 2024 USPAP, which statement correctly combines the requirements for an oral real property appraisal report and its workfile?
An appraiser accepts an assignment involving a property type the appraiser has valued once before, years ago. Competency requires:
A Certified General appraiser is asked to value a specialized industrial property for the first time. The appraiser knows a competency gap exists before agreeing to the assignment. What is required if the appraiser proceeds?
Under 2024 USPAP Standard 1, which listed assignment element must be identified in developing a real property appraisal?
An appraiser provided an appraisal of the same property for another client 18 months ago. No confidentiality obligation prevents disclosing the fact of that service. Before agreeing to a new assignment, the appraiser must:
According to USPAP, what is the primary purpose of the Ethics Rule?
An appraiser is asked to determine 'fair market value' for an assignment. According to USPAP, the appraiser should:
Which list gives the sections of the 2024 USPAP Ethics Rule?
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