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 Methods Questions
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?
Which assignment type still requires the appraiser to develop an opinion of value?
A model returns an estimate far from the appraiser's own conclusion. What is the appropriate response?
What does it mean that a tool cannot comply with USPAP?
An appraiser is asked to review an assignment where an AVM supplied the value. What does the review examine?
Why is the date a data extract was pulled worth recording in the workfile?
A desktop appraisal is best described as an assignment completed how?
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