An assignment requires a certification form that omits some SR 2-3 certification elements. What must the appraisal report contain?
Correct Answer
A) A supplemental certification addressing the missing required elements
When the required certification form does not include every SR 2-3 certification element, the report must contain a supplemental certification covering the remaining required elements. A familiar or required form does not by itself establish complete USPAP compliance. The report and certification must truthfully reflect the appraiser’s actual work and circumstances.
Why This Is the Correct Answer
Option A is correct because SR 2-3(d) states that when an assignment requires a certification that does not include all the required elements, the appraisal report must contain a supplemental certification with the remaining required elements. This keeps the report fully compliant while still using the required form.
Why the Other Options Are Wrong
Option B: The required form alone, because a mandated form supersedes USPAP
Option B, using the required form alone because a mandated form supersedes USPAP, is wrong because USPAP requires a supplemental certification for the missing elements.
Option C: A private workfile note instead of report certification
Option C, substituting a private workfile note for report certification, is wrong because the supplemental certification must be contained in the appraisal report itself.
Option D: The value conclusion, without a certification
Option D, providing the value conclusion without a certification, is wrong because a written real property appraisal report requires a signed certification.
Missing piece, supplement it
If the form's certification is missing a piece, add a supplemental certification to fill it in the report.
How to use: Use missing-piece-supplement-it whenever a required form's certification is incomplete.
Exam Tip
When a form falls short of USPAP, the answer is to supplement it in the report, not to drop the requirement or move it to the workfile.
Common Mistakes to Avoid
- -Assuming a client form overrides USPAP
- -Putting the missing certification elements only in the workfile
- -Issuing a written report with no certification
Concept Deep Dive
Analysis
This question tests what to do when a required certification form lacks some Standards Rule 2-3 elements. USPAP requires a supplemental certification that covers the missing elements. A mandated form does not override USPAP, and the certification must appear in the report.
Background Knowledge
Standards Rule 2-3 lists the certification elements for written real property appraisal reports. Many client or agency forms include their own certifications, and when those omit required elements, the appraiser adds a supplemental certification. The certification must truthfully reflect the appraiser's actual work.
Real-World Application
A private lender's form certification lacks the statement about prior services regarding the subject property. The appraiser attaches a supplemental certification in the report that includes the missing statement.
More USPAP Questions
Under USPAP, what are assignment results?
The certification required by Standards Rule 2-3 must be signed by:
Under 2024 USPAP, which statement correctly combines the requirements for an oral real property appraisal report and its workfile?
An appraiser accepts an assignment involving a property type the appraiser has valued once before, years ago. Competency requires:
A Certified General appraiser is asked to value a specialized industrial property for the first time. The appraiser knows a competency gap exists before agreeing to the assignment. What is required if the appraiser proceeds?
Under 2024 USPAP Standard 1, which listed assignment element must be identified in developing a real property appraisal?
An appraiser provided an appraisal of the same property for another client 18 months ago. No confidentiality obligation prevents disclosing the fact of that service. Before agreeing to a new assignment, the appraiser must:
According to USPAP, what is the primary purpose of the Ethics Rule?
An appraiser is asked to determine 'fair market value' for an assignment. According to USPAP, the appraiser should:
Which list gives the sections of the 2024 USPAP Ethics Rule?
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