How may the final opinion of value be expressed?
Correct Answer
B) As a point, a range, or against a benchmark
Why this is correct: USPAP permits the final opinion of value to be expressed as a point estimate, a range (e.g., $480,000-$490,000), or in relation to a benchmark (e.g., not less than $475,000). The form should match the assignment's needs and the evidence's precision. Why the other choices are wrong: A single point is not the only option. Averaging approaches without reconciliation is improper. Rounding is a presentation detail, not the expression form. Exam tip: Value can be a point, range, or benchmark. Choose based on evidence reliability.
Why This Is the Correct Answer
Why this is correct: USPAP permits the final opinion of value to be expressed as a point estimate, a range (e.g., $480,000-$490,000), or in relation to a benchmark (e.g., not less than $475,000). The form should match the assignment's needs and the evidence's precision. Why the other choices are wrong: A single point is not the only option. Averaging approaches without reconciliation is improper. Rounding is a presentation detail, not the expression form. Exam tip: Value can be a point, range, or benchmark. Choose based on evidence reliability.
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