Under value acceptance plus property data, what appraisal work is performed?
Correct Answer
D) None; a data collection is submitted instead
Why this is correct: Value acceptance plus property data is a process where an investor accepts a submitted value based on its own data and modeling, paired with a standardized field data collection. Crucially, no opinion of value is developed by an appraiser; only data collection is performed and submitted. Why the other choices are wrong: A desktop appraisal based on the collected data involves an appraiser analyzing data to form a value opinion. A hybrid appraisal signed by a certified appraiser requires an appraiser to develop a value conclusion from collected data. An exterior-only appraisal by a local appraiser is an appraisal with a limited inspection, but still involves an appraiser's opinion. Exam tip: Remember, 'value acceptance plus property data' involves data submission only—no appraisal work.
Why This Is the Correct Answer
Why this is correct: Value acceptance plus property data is a process where an investor accepts a submitted value based on its own data and modeling, paired with a standardized field data collection. Crucially, no opinion of value is developed by an appraiser; only data collection is performed and submitted. Why the other choices are wrong: A desktop appraisal based on the collected data involves an appraiser analyzing data to form a value opinion. A hybrid appraisal signed by a certified appraiser requires an appraiser to develop a value conclusion from collected data. An exterior-only appraisal by a local appraiser is an appraisal with a limited inspection, but still involves an appraiser's opinion. Exam tip: Remember, 'value acceptance plus property data' involves data submission only—no appraisal work.
More emerging-appraisal-methods Questions
An appraiser consults a geographic information system for parcel boundaries. What limitation applies?
How does an alternative inspection method affect the appraiser's disclosure obligations?
A collector's photographs show a condition the appraiser believes needs specialist assessment. What is the appropriate step?
What responsibility does an appraiser retain for an error originating in a third-party database?
Under current USPAP guidance, what is the output of an automated valuation model before an appraiser analyzes it?
A lender's guidelines require an interior inspection, but the client asks for a desktop product to save time. What should the appraiser do?
How should an appraiser respond to a client requesting a shorter turn time than credible results allow?
Which assignment type still requires the appraiser to develop an opinion of value?
An appraiser relies on a published capitalization rate survey. What must be considered?
A model returns an estimate far from the appraiser's own conclusion. What is the appropriate response?
People Also Study
Valuation Principles & Procedures
25% of exam
Property Description & Analysis
20% of exam
Market Analysis & Highest/Best Use
15% of exam
Appraisal Math & Statistics
15% of exam
USPAP (Ethics & Standards)
15% of exam