In an assignment, the intended users of the appraisal are:
Correct Answer
B) Identified by the appraiser, based on communication with the client
Why this is correct: USPAP requires the appraiser to identify intended users based on communication with the client at the assignment's outset. This identification dictates the report's scope and content. Why the other choices are wrong: "Everyone who will eventually read the report" is too broad; intended users are specifically identified. "Determined by whichever party ultimately pays the fee" is incorrect; fee payer does not define users. "Set by regulation as the lender, borrower, and secondary market buyer" is false; identification is assignment-specific. Exam tip: Intended users are identified by the appraiser, not assumed or regulated.
Why This Is the Correct Answer
Why this is correct: USPAP requires the appraiser to identify intended users based on communication with the client at the assignment's outset. This identification dictates the report's scope and content. Why the other choices are wrong: "Everyone who will eventually read the report" is too broad; intended users are specifically identified. "Determined by whichever party ultimately pays the fee" is incorrect; fee payer does not define users. "Set by regulation as the lender, borrower, and secondary market buyer" is false; identification is assignment-specific. Exam tip: Intended users are identified by the appraiser, not assumed or regulated.
More USPAP Questions
Which statement best defines a hypothetical condition under USPAP?
According to the Competency Rule, if an appraiser lacks the knowledge and experience to complete an assignment competently, which action is NOT acceptable?
An appraiser runs only the sales comparison approach on a standard tract home and omits the cost and income approaches. Under Standard 1 this is:
A value opinion for a subdivision as if fully built out two years from now is what kind of assignment, and what does it require?
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A client-imposed requirement — 'use only comps from our approved list' — is best described as:
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The certification required by Standards Rule 2-3 must be signed by:
According to Standard 1, when developing an opinion of market value, an appraiser must analyze:
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