What does a property data collector produce?
Correct Answer
A) A fact-based record of the property's characteristics
Why this is correct: A property data collector's role is strictly to gather and record objective facts about a property's physical characteristics, such as room counts, finishes, and condition, without analysis or valuation. Why the other choices are wrong: An opinion of value supported by comparable sales is an appraisal. A restricted appraisal report is a type of appraisal report. A loan recommendation is a lending decision, not a data collection output. Exam tip: Data collection = facts. Appraisal = analysis and opinion of value. Keep these roles distinct.
Why This Is the Correct Answer
Why this is correct: A property data collector's role is strictly to gather and record objective facts about a property's physical characteristics, such as room counts, finishes, and condition, without analysis or valuation. Why the other choices are wrong: An opinion of value supported by comparable sales is an appraisal. A restricted appraisal report is a type of appraisal report. A loan recommendation is a lending decision, not a data collection output. Exam tip: Data collection = facts. Appraisal = analysis and opinion of value. Keep these roles distinct.
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