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 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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