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.
More Emerging Methods Questions
How does an alternative inspection method affect the appraiser's disclosure obligations?
A collector's photographs show a condition the appraiser believes needs specialist assessment. What is the appropriate step?
What responsibility does an appraiser retain for an error originating in a third-party database?
Under current USPAP guidance, what is the output of an automated valuation model before an appraiser analyzes it?
Which assignment type still requires the appraiser to develop an opinion of value?
A model returns an estimate far from the appraiser's own conclusion. What is the appropriate response?
What does it mean that a tool cannot comply with USPAP?
An appraiser is asked to review an assignment where an AVM supplied the value. What does the review examine?
Why is the date a data extract was pulled worth recording in the workfile?
A desktop appraisal is best described as an assignment completed how?
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