An appraiser reviews an AVM output, agrees with it, and reports it as their own opinion of value. What has occurred?
Correct Answer
D) An appraisal, for which the appraiser is responsible
Why this is correct: When an appraiser reviews an AVM output, agrees with it, and reports it as their own opinion, they have developed an appraisal. The appraiser assumes full responsibility under USPAP for the value conclusion. Why the other choices are wrong: A model output has been passed through unchanged describes the action but not the legal consequence. An evaluation has been produced for the lender is incorrect; evaluations have different standards and are not necessarily appraisals. Nothing governed by USPAP, since a model produced it is false; USPAP applies when an appraiser adopts the value as their own. Exam tip: If you sign off on a value as your opinion, it's your appraisal under USPAP.
Why This Is the Correct Answer
Why this is correct: When an appraiser reviews an AVM output, agrees with it, and reports it as their own opinion, they have developed an appraisal. The appraiser assumes full responsibility under USPAP for the value conclusion. Why the other choices are wrong: A model output has been passed through unchanged describes the action but not the legal consequence. An evaluation has been produced for the lender is incorrect; evaluations have different standards and are not necessarily appraisals. Nothing governed by USPAP, since a model produced it is false; USPAP applies when an appraiser adopts the value as their own. Exam tip: If you sign off on a value as your opinion, it's your appraisal under USPAP.
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Which assignment type still requires the appraiser to develop an opinion of value?
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