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 statement best defines a hypothetical condition under USPAP?
According to the Competency Rule, if an appraiser lacks the knowledge and experience to complete an assignment competently, which action is NOT acceptable?
An appraiser runs only the sales comparison approach on a standard tract home and omits the cost and income approaches. Under Standard 1 this is:
A value opinion for a subdivision as if fully built out two years from now is what kind of assignment, and what does it require?
A hypothetical condition differs from an extraordinary assumption in that a hypothetical condition:
An appraiser must disclose in the certification whether they have:
A client-imposed requirement — 'use only comps from our approved list' — is best described as:
Under Standard 1, when developing a real property appraisal, an appraiser must:
According to Standard 1, when developing an opinion of market value, an appraiser must analyze:
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?
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