How does an appraiser handle a property data collection that omits a required characteristic?
Correct Answer
D) Obtain the information or expand the scope of work
Why this is correct: USPAP requires a credible scope of work. A missing characteristic creates a gap in support. The appraiser must obtain the information, expand the scope to address it, or disclose the limitation as an extraordinary assumption with its impact. Why the other choices are wrong: Estimating from the neighborhood without verification is unsupported. A general disclaimer does not address the specific gap. Assuming it matches assessor records may be inaccurate and undisclosed. Exam tip: Missing data requires action: obtain it, expand scope, or disclose as an extraordinary assumption.
Why This Is the Correct Answer
Why this is correct: USPAP requires a credible scope of work. A missing characteristic creates a gap in support. The appraiser must obtain the information, expand the scope to address it, or disclose the limitation as an extraordinary assumption with its impact. Why the other choices are wrong: Estimating from the neighborhood without verification is unsupported. A general disclaimer does not address the specific gap. Assuming it matches assessor records may be inaccurate and undisclosed. Exam tip: Missing data requires action: obtain it, expand scope, or disclose as an extraordinary assumption.
More Emerging Methods Questions
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?
Which assignment type still requires the appraiser to develop an opinion of value?
A model returns an estimate far from the appraiser's own conclusion. What is the appropriate response?
What does it mean that a tool cannot comply with USPAP?
An appraiser is asked to review an assignment where an AVM supplied the value. What does the review examine?
Why is the date a data extract was pulled worth recording in the workfile?
A desktop appraisal is best described as an assignment completed how?
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