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USPAPMEDIUM18.2% of exam

Per free 2024 USPAP DEFINITIONS (Standards 1–4 public paraphrases; no licensed scrape), which statement correctly states the DEFINITIONS meaning of Appraiser as modified for the 2024 edition?

Correct Answer

D) One who is expected to perform valuation services competently and in a manner that is independent, impartial, and objective

2024 USPAP DEFINITIONS (modified): Appraiser = one who is expected to perform valuation services competently and in a manner that is independent, impartial, and objective (expectation may arise by choice or by law/regulation/agreement with client/intended users). Free S1–4 DEFINITIONS paraphrase only. ≠ Workfile/Report/Effective Date/Signature/Mass Appraisal; ≠ SR 2-1/2-2/2-3; ≠ SCOPE OF WORK RULE.

Answer Options
A
Any person who fills out a real-estate form is an appraiser regardless of competence or independence expectations
B
Only a person who holds a Certified General credential may meet the DEFINITIONS meaning of Appraiser
C
Appraiser means the same as Client under USPAP DEFINITIONS
D
One who is expected to perform valuation services competently and in a manner that is independent, impartial, and objective

Why This Is the Correct Answer

2024 USPAP DEFINITIONS (modified): Appraiser = one who is expected to perform valuation services competently and in a manner that is independent, impartial, and objective (expectation may arise by choice or by law/regulation/agreement with client/intended users). Free S1–4 DEFINITIONS paraphrase only. ≠ Workfile/Report/Effective Date/Signature/Mass Appraisal; ≠ SR 2-1/2-2/2-3; ≠ SCOPE OF WORK RULE.

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