Should the report identify who performed the property data collection?
Correct Answer
A) Yes, reliance on their work must be disclosed
Why this is correct: USPAP's Ethics Rule and reporting standards require disclosure of any significant assistance relied upon. If someone else collected the property data, the appraiser is relying on their work. The report must disclose this reliance and the extent of it so the reader can understand the basis of the appraisal. Why the other choices are wrong: Treating collectors as anonymous vendors violates the disclosure requirement for significant professional reliance. Limiting disclosure to only licensed appraisers or only upon client request is incorrect; the duty to disclose reliance is independent of the collector's status or client instructions. Exam tip: If you didn't personally observe it, you must disclose who did and your extent of reliance on their work.
Why This Is the Correct Answer
Why this is correct: USPAP's Ethics Rule and reporting standards require disclosure of any significant assistance relied upon. If someone else collected the property data, the appraiser is relying on their work. The report must disclose this reliance and the extent of it so the reader can understand the basis of the appraisal. Why the other choices are wrong: Treating collectors as anonymous vendors violates the disclosure requirement for significant professional reliance. Limiting disclosure to only licensed appraisers or only upon client request is incorrect; the duty to disclose reliance is independent of the collector's status or client instructions. Exam tip: If you didn't personally observe it, you must disclose who did and your extent of reliance on their work.
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Under current USPAP guidance, what is the output of an automated valuation model before an appraiser analyzes it?
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