The certification required by Standard 2 must be signed by whom?
Correct Answer
B) Each appraiser who signs the report
Why this is correct: Under USPAP Standards Rule 2-3, the certification is a personal statement by each appraiser who signs the report, attesting to their own work, impartiality, and compliance with USPAP. Every signatory must sign the certification. Why the other choices are wrong: "The client and the appraiser jointly" is false; the client does not sign the appraiser's certification. "Only the supervisory appraiser present" is false; any signing appraiser, including trainees if permitted, must certify. "A reviewer at the state regulatory agency" is not involved in the original appraisal report. Exam tip: Certification is personal and required for every appraiser who signs the report.
Why This Is the Correct Answer
Option B is correct because an appraiser who signs any part of the appraisal report, including a letter of transmittal, must also sign a certification. The certification is a personal statement by each signing appraiser about their own work, impartiality, and compliance. Multiple signing appraisers each take on that responsibility.
Why the Other Options Are Wrong
Option A: The client and the appraiser jointly
Option A, the client and the appraiser jointly, is wrong because the client does not sign the appraiser's certification; it is the appraiser's own statement.
Option C: Only the supervisory appraiser present
Option C, only the supervisory appraiser present, is wrong because any appraiser who signs the report, not only a supervisor, must sign a certification.
Option D: A reviewer at the state regulatory agency
Option D, a reviewer at the state regulatory agency, is wrong because a regulator is not part of preparing or signing the original appraisal report.
Sign any part, sign certification
If your signature touches the report, even the transmittal letter, your signature also belongs on a certification.
How to use: Use this when asked who must sign the Standard 2 certification.
Exam Tip
Certification is personal to each signing appraiser; clients and regulators do not sign it.
Common Mistakes to Avoid
- -Thinking only the supervisor signs the certification
- -Believing the client co-signs the certification
- -Forgetting that signing a transmittal letter triggers the certification requirement
Concept Deep Dive
Analysis
This question tests who must sign the real property appraisal certification. USPAP requires an appraiser who signs any part of the appraisal report, including a letter of transmittal, to also sign a certification. The certification is the appraiser's personal statement, not a joint client document or a regulator's sign-off.
Background Knowledge
SR 2-3 requires a signed certification as part of each written real property appraisal report. Signing it means accepting responsibility for the certification's statements, the assignment results, and the report contents. Appraisers who provide significant assistance but do not sign must be named in the certification.
Real-World Application
A trainee and a supervisory appraiser both sign a residential report where the trainee's state program permits it. Each signs a certification accepting responsibility, and any other appraiser who gave significant help without signing is named in the certification.
More USPAP Questions
In a cost approach for an improved property, an appraiser estimates site value by sales comparison, allocation and extraction, then settles on one site-value figure before final reconciliation. How is this step best described?
An extraordinary assumption was reasonably supported, properly used and disclosed in an appraisal report. Later, the assumed information is found to be false. Which conclusion is best supported?
An otherwise applicable valuation approach cannot be developed reliably from the available data. The remaining scope can produce credible assignment results. What should the appraiser do?
May an appraiser use a hypothetical condition in any assignment?
An appraisal has a current effective date and permits an extraordinary assumption if its requirements are met. Which situation involves uncertain information rather than a fact known to be contrary to reality on that date?
Why must a report identify any real property interest that is being excluded from the value opinion?
Which review best helps explain divergent cost, sales-comparison and income indications?
Two value indications are $340,000 and $392,000. What is the difference as a percentage of the lower indication, rounded to one decimal place?
An unauthorized third party requests a lender-client’s report. No due-process or other permitted disclosure exception applies. How should the appraiser respond?
An appraiser proposes to assume there are no hidden defects. Which fact would characterize that assumption as extraordinary under the USPAP 2024 definition, rather than justify dismissing it as routine boilerplate?
People Also Study
Real Estate Market
13.6% of exam
Property Description
11.8% of exam
Land or Site Valuation
4.5% of exam
Sales Comparison Approach
16.4% of exam
Cost Approach
13.6% of exam
Previous Question
Which considerations provide the soundest basis for reconciling appraisal indications?
Next Question
Under Fannie Mae's Selling Guide, a home has a sales comparison indication of $400,800 and a cost indication of $403,200. The appraiser's explained weighting (40% sales comparison, 60% cost) gives $402,240, and the appraiser usually rounds final values to the nearest $5,000. Which reporting choice is best?
