The extent to which the property was inspected — or was not inspected at all — must be:
Correct Answer
C) Disclosed in the report as part of the scope of work performed
Why this is correct: USPAP's Scope of Work Rule requires disclosure of the extent of the property inspection (e.g., interior, exterior, or no inspection) so intended users understand the basis for the appraiser's condition statements and value conclusion. Why the other choices are wrong: "Kept private to protect the appraiser" violates disclosure requirements. "Reported only when the client specifically asks" is wrong; disclosure is mandatory. "Standardized across all assignments" is false; scope is assignment-specific. Exam tip: Always clearly state what you did and did not inspect in the report.
Why This Is the Correct Answer
Why this is correct: USPAP's Scope of Work Rule requires disclosure of the extent of the property inspection (e.g., interior, exterior, or no inspection) so intended users understand the basis for the appraiser's condition statements and value conclusion. Why the other choices are wrong: "Kept private to protect the appraiser" violates disclosure requirements. "Reported only when the client specifically asks" is wrong; disclosure is mandatory. "Standardized across all assignments" is false; scope is assignment-specific. Exam tip: Always clearly state what you did and did not inspect in the report.
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:
The certification required by Standards Rule 2-3 must be signed by:
According to Standard 1, when developing an opinion of market value, an appraiser must analyze:
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