An appraiser must disclose in the certification whether they have:
Correct Answer
C) Performed services on the subject within the look-back period
Why this is correct: The certification must disclose whether the appraiser has performed a prior service on the subject property within a specific look-back period (e.g., three years). This is a key conflict disclosure required by USPAP. Why the other choices are wrong: 'Attended continuing education in the past year' is wrong; while education is important, it is not a required certification disclosure. 'Appraised any other property in the same county recently' is wrong; the rule is specific to the subject property, not the area. 'Any professional designations held' is wrong; designations are typically disclosed in the report's appraiser identification section, not as a conflict in the certification. Exam tip: The certification disclosure focuses on prior services for the *same subject property*.
Why This Is the Correct Answer
Why this is correct: The certification must disclose whether the appraiser has performed a prior service on the subject property within a specific look-back period (e.g., three years). This is a key conflict disclosure required by USPAP. Why the other choices are wrong: 'Attended continuing education in the past year' is wrong; while education is important, it is not a required certification disclosure. 'Appraised any other property in the same county recently' is wrong; the rule is specific to the subject property, not the area. 'Any professional designations held' is wrong; designations are typically disclosed in the report's appraiser identification section, not as a conflict in the certification. Exam tip: The certification disclosure focuses on prior services for the *same subject property*.
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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