Reporting the final opinion as a single figure when the evidence supports a range is:
Correct Answer
C) Acceptable if the conclusion is supported and explained
Why this is correct: The governing concept is that USPAP and standard appraisal practice allow for the expression of a final value opinion as either a single figure or a range. The supplied explanation states that point values are the convention for most uses and are proper when the reasoning is shown. Therefore, reporting a single figure is acceptable if the appraiser's conclusion is supported by the evidence and the analysis is explained in the report. Why the other choices are wrong: 'Prohibited when comparables disagree' is wrong because disagreement among comparables is common, and the appraiser's job is to reconcile them into a supported conclusion. 'Always misleading to intended users' is incorrect because a single figure is the standard, expected format for most intended uses like mortgage lending. 'Required by the standards in every appraisal assignment' is false because USPAP does not mandate a single figure; a range is also a permissible form of reporting. Exam tip: Remember that a single value is the typical convention, but a range is an acceptable alternative. The key requirement is that the conclusion, in whatever form, must be supported and explained.
Why This Is the Correct Answer
Why this is correct: The governing concept is that USPAP and standard appraisal practice allow for the expression of a final value opinion as either a single figure or a range. The supplied explanation states that point values are the convention for most uses and are proper when the reasoning is shown. Therefore, reporting a single figure is acceptable if the appraiser's conclusion is supported by the evidence and the analysis is explained in the report. Why the other choices are wrong: 'Prohibited when comparables disagree' is wrong because disagreement among comparables is common, and the appraiser's job is to reconcile them into a supported conclusion. 'Always misleading to intended users' is incorrect because a single figure is the standard, expected format for most intended uses like mortgage lending. 'Required by the standards in every appraisal assignment' is false because USPAP does not mandate a single figure; a range is also a permissible form of reporting. Exam tip: Remember that a single value is the typical convention, but a range is an acceptable alternative. The key requirement is that the conclusion, in whatever form, must be supported and explained.
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