The certification required by Standards Rule 2-3 must be signed by:
Correct Answer
B) The appraiser or appraisers accepting responsibility for it
Why this is correct: The certification required by Standards Rule 2-3 must be signed by the appraiser or appraisers who accept responsibility for the content of the appraisal and the conclusions within the report. Why the other choices are wrong: "The client who commissioned the appraisal" does not sign the appraiser's certification. "Every person who provided any information" is not required; only those providing significant appraisal assistance must be disclosed, but they need not sign. "A state-certified reviewing appraiser retained before delivery" is not a USPAP requirement for every report. Exam tip: The signature on the certification is the appraiser's acceptance of personal responsibility for the appraisal.
Why This Is the Correct Answer
Why this is correct: The certification required by Standards Rule 2-3 must be signed by the appraiser or appraisers who accept responsibility for the content of the appraisal and the conclusions within the report. Why the other choices are wrong: "The client who commissioned the appraisal" does not sign the appraiser's certification. "Every person who provided any information" is not required; only those providing significant appraisal assistance must be disclosed, but they need not sign. "A state-certified reviewing appraiser retained before delivery" is not a USPAP requirement for every report. Exam tip: The signature on the certification is the appraiser's acceptance of personal responsibility for the appraisal.
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:
An appraiser accepts an assignment to appraise a specialized industrial property but has never appraised this property type before. To comply with the Competency Rule, the appraiser:
According to the Scope of Work Rule, the scope of work must be appropriate to the:
According to Standard 1, when developing an opinion of market value, an appraiser must analyze:
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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