What must remain in the workfile when an appraiser relies on a subscription data service?
Correct Answer
D) Enough of the data relied upon to support the results
Why this is correct: USPAS's Record Keeping Rule requires the workfile to contain sufficient information to support the appraiser's conclusions. If data from a subscription service is relied upon, extracts or copies of that specific data must be retained. This ensures the analysis can be reconstructed even if the appraiser's access to the service lapses. Why the other choices are wrong: "The subscription invoice showing the service was paid" is incorrect; payment proof does not support the analysis. "The service's terms of use and licence agreement" is incorrect; while potentially relevant, they do not substitute for the data itself. "A letter from the provider confirming accuracy" is incorrect; appraisers are responsible for verifying data, not relying on provider assurances. Exam tip: The workfile must contain the *data used*, not just proof you had access to a source.
Why This Is the Correct Answer
Why this is correct: USPAS's Record Keeping Rule requires the workfile to contain sufficient information to support the appraiser's conclusions. If data from a subscription service is relied upon, extracts or copies of that specific data must be retained. This ensures the analysis can be reconstructed even if the appraiser's access to the service lapses. Why the other choices are wrong: "The subscription invoice showing the service was paid" is incorrect; payment proof does not support the analysis. "The service's terms of use and licence agreement" is incorrect; while potentially relevant, they do not substitute for the data itself. "A letter from the provider confirming accuracy" is incorrect; appraisers are responsible for verifying data, not relying on provider assurances. Exam tip: The workfile must contain the *data used*, not just proof you had access to a source.
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