Scope of work decisions are properly influenced by:
Correct Answer
B) The intended use and the intended users' expectations
Why this is correct: The scope of work is determined by the appraisal problem's intended use and the expectations of intended users. It defines the extent of research and analysis needed to produce credible results for that specific purpose. Why the other choices are wrong: The appraiser's available time is a personal constraint, not a proper basis for scope decisions. The property's assessed value is a tax matter, not a scope determinant. The number of readily available comparable sales is a data consideration, but scope is driven by user needs. Exam tip: Scope is driven by intended use and users, not by appraiser convenience.
Why This Is the Correct Answer
Why this is correct: The scope of work is determined by the appraisal problem's intended use and the expectations of intended users. It defines the extent of research and analysis needed to produce credible results for that specific purpose. Why the other choices are wrong: The appraiser's available time is a personal constraint, not a proper basis for scope decisions. The property's assessed value is a tax matter, not a scope determinant. The number of readily available comparable sales is a data consideration, but scope is driven by user needs. Exam tip: Scope is driven by intended use and users, not by appraiser convenience.
More USPAP Questions
Which type of appraisal report may contain the appraiser's analyses, opinions, and conclusions but is intended for use by the client only?
How long must an appraiser retain the workfile for an appraisal assignment under USPAP?
If an appraiser uses a hypothetical condition that the subject property is 10% larger than it actually is, this must be:
Under Standard 1, when developing a real property appraisal, an appraiser must:
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A lender emails: 'We need at least $450,000 to make this loan work — can you take the assignment?' Accepting on that basis is:
An appraiser is developing an opinion of market value for a 20-unit apartment building. The appraiser finds three comparable sales with the following information: Sale 1: 18 units, sold for $1,800,000; Sale 2: 22 units, sold for $2,200,000; Sale 3: 24 units, sold for $2,280,000. What is the average price per unit for these comparables?
In developing a scope of work, an appraiser must consider all of the following factors EXCEPT:
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