An exterior-only appraisal is sometimes described by which term?
Correct Answer
B) A drive-by appraisal assignment
Why this is correct: A 'drive-by appraisal' is a common term for an exterior-only inspection where the appraiser views the property from the street but does not enter the interior. The interior condition is based on an extraordinary assumption or other data. Why the other choices are wrong: 'A hybrid appraisal assignment' typically involves a combination of traditional appraisal and alternative data sources, not solely an exterior inspection. 'A desktop appraisal assignment' involves no physical inspection at all. 'A value acceptance determination' is a lender's process, not an appraisal type. Exam tip: Exterior-only = Drive-by. No inspection = Desktop.
Why This Is the Correct Answer
Why this is correct: A 'drive-by appraisal' is a common term for an exterior-only inspection where the appraiser views the property from the street but does not enter the interior. The interior condition is based on an extraordinary assumption or other data. Why the other choices are wrong: 'A hybrid appraisal assignment' typically involves a combination of traditional appraisal and alternative data sources, not solely an exterior inspection. 'A desktop appraisal assignment' involves no physical inspection at all. 'A value acceptance determination' is a lender's process, not an appraisal type. Exam tip: Exterior-only = Drive-by. No inspection = Desktop.
More emerging-appraisal-methods Questions
An appraiser consults a geographic information system for parcel boundaries. What limitation applies?
How does an alternative inspection method affect the appraiser's disclosure obligations?
A collector's photographs show a condition the appraiser believes needs specialist assessment. What is the appropriate step?
What responsibility does an appraiser retain for an error originating in a third-party database?
Under current USPAP guidance, what is the output of an automated valuation model before an appraiser analyzes it?
A lender's guidelines require an interior inspection, but the client asks for a desktop product to save time. What should the appraiser do?
How should an appraiser respond to a client requesting a shorter turn time than credible results allow?
Which assignment type still requires the appraiser to develop an opinion of value?
An appraiser relies on a published capitalization rate survey. What must be considered?
A model returns an estimate far from the appraiser's own conclusion. What is the appropriate response?
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