An appraiser reconciles to a value at the top of the indicated range because the client needs that figure. What has occurred?
Correct Answer
D) A breach of the obligation to remain impartial
Why this is correct: Selecting a value based on client need, rather than an unbiased weighing of the evidence, violates the appraiser's obligation to be impartial and independent. It constitutes performing an assignment with bias toward a predetermined result. Why the other choices are wrong: This is not acceptable judgment; it is bias. A client instruction cannot override the requirement for an impartial analysis. This is not a proper scope of work decision. Exam tip: The final value must come from the evidence, not the client's desires.
Why This Is the Correct Answer
Why this is correct: Selecting a value based on client need, rather than an unbiased weighing of the evidence, violates the appraiser's obligation to be impartial and independent. It constitutes performing an assignment with bias toward a predetermined result. Why the other choices are wrong: This is not acceptable judgment; it is bias. A client instruction cannot override the requirement for an impartial analysis. This is not a proper scope of work decision. Exam tip: The final value must come from the evidence, not the client's desires.
More reconciliation Questions
An appraiser is told the property has no environmental contamination and cannot verify it. How should this be handled?
Reconciliation of the approaches to value is best described as which activity?
Significant appraisal assistance from a person who does not sign the report must be treated how?
In appraising a hotel as a going concern, what must be allocated?
What does it mean to say an approach is not applicable to an assignment?
Which of the following is a written report option named in the current edition of USPAP?
What distinguishes qualitative from quantitative analysis in the sales comparison approach?
Why should the reconciliation address the quantity of evidence as well as its quality?
An appraisal report includes an addendum explaining the adjustment derivation. How does this affect compliance?
An extraordinary assumption proves false after the report is delivered. What follows?
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