What benchmark does USPAP give for judging whether a chosen scope of work is acceptable?
Correct Answer
C) Peers' actions in similar assignments and the expectations of intended users
Why this is correct: USPAP's Scope of Work Rule states the minimum acceptable scope is determined by what is necessary for credible results, based on the expectations of intended users and what peers' actions would be in similar assignments, as per the original explanation. Why the other choices are wrong: "The scope the client is willing to pay for" is incorrect; client budget cannot override the need for credible results. "Whatever scope the appraiser's report-writing software defaults recommend" is wrong; software defaults do not determine USPAP compliance. "The most exhaustive scope physically possible" is false; USPAP requires a credible scope, not necessarily the most exhaustive. Exam tip: The scope of work must meet a two-part test: peers' actions and users' expectations.
Why This Is the Correct Answer
Why this is correct: USPAP's Scope of Work Rule states the minimum acceptable scope is determined by what is necessary for credible results, based on the expectations of intended users and what peers' actions would be in similar assignments, as per the original explanation. Why the other choices are wrong: "The scope the client is willing to pay for" is incorrect; client budget cannot override the need for credible results. "Whatever scope the appraiser's report-writing software defaults recommend" is wrong; software defaults do not determine USPAP compliance. "The most exhaustive scope physically possible" is false; USPAP requires a credible scope, not necessarily the most exhaustive. Exam tip: The scope of work must meet a two-part test: peers' actions and users' expectations.
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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