Under a free paraphrase of the USPAP DEFINITIONS, which statement best describes scope of work?
Correct Answer
D) The type and extent of research and analyses in an appraisal or appraisal review assignment
Free paraphrase: scope of work is the type and extent of research and analyses in an appraisal or appraisal review assignment. Intended Use, Intended User, or Workfile documentation do not define scope of work.
Why This Is the Correct Answer
Option D is correct because USPAP defines scope of work as the type and extent of research and analyses in an appraisal or appraisal review assignment. Option D states that definition directly.
Why the Other Options Are Wrong
Option A: The use or uses of an appraiser's reported appraisal or appraisal review assignment results, as identified by the appraiser based on communication with the client at the time of the assignment
Option A, the use or uses of the appraiser's reported results as identified from communication with the client, is the definition of intended use, not scope of work.
Option B: The client and any other party identified by name or type as a user of the appraisal or appraisal review report by the appraiser based on communication with the client at the time of the assignment
Option B, the client and any other party identified by name or type as a user of the report, is the definition of intended user, not scope of work.
Option C: Documentation necessary to support an appraiser's analyses, opinions, and conclusions and to show compliance with USPAP
Option C, documentation necessary to support the appraiser's analyses, opinions and conclusions and to show compliance with USPAP, describes the workfile, not scope of work.
Type and extent
Scope of work answers two questions: what type of research and analysis, and to what extent.
How to use: Use type-and-extent to pick the scope of work definition from a list of USPAP terms.
Exam Tip
Match the key phrase type and extent of research and analyses to scope of work.
Common Mistakes to Avoid
- -Confusing scope of work with intended use
- -Treating the workfile as the scope of work
- -Thinking the client alone sets the scope of work
Concept Deep Dive
Analysis
This question tests the USPAP definition of scope of work. Scope of work is the type and extent of research and analyses in an appraisal or appraisal review assignment. The other options define intended use, intended user and workfile.
Background Knowledge
The Scope of Work Rule requires the appraiser to identify the problem, determine and perform the scope of work needed for credible results, and disclose it in the report. Intended use and intended users help define the problem, which in turn shapes the scope of work.
Real-World Application
An appraiser decides to inspect the interior, research twelve months of sales and develop the sales comparison and cost approaches. That combination of research and analyses is her scope of work, which she discloses in the report.
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