When an appraisal is transmitted electronically, the appraiser must:
Correct Answer
C) Ensure the transmission preserves the report's integrity
Why this is correct: USPAP's Record Keeping Rule and common professional practice require that an electronically transmitted report must arrive intact and unaltered. The appraiser is responsible for ensuring the report's content and signature are preserved during transmission. Why the other choices are wrong: Delivering a printed copy within thirty days is not a USPAP requirement. Obtaining a wet signature before any electronic delivery is not required; electronic signatures are permitted. Encrypting every report regardless of content is not a blanket USPAP rule, though data security is a general ethical concern. Exam tip: The core duty is integrity of the report in transit. The method must ensure what the client receives is exactly what you signed.
Why This Is the Correct Answer
Why this is correct: USPAP's Record Keeping Rule and common professional practice require that an electronically transmitted report must arrive intact and unaltered. The appraiser is responsible for ensuring the report's content and signature are preserved during transmission. Why the other choices are wrong: Delivering a printed copy within thirty days is not a USPAP requirement. Obtaining a wet signature before any electronic delivery is not required; electronic signatures are permitted. Encrypting every report regardless of content is not a blanket USPAP rule, though data security is a general ethical concern. Exam tip: The core duty is integrity of the report in transit. The method must ensure what the client receives is exactly what you signed.
More USPAP Questions
Which type of appraisal report may contain the appraiser's analyses, opinions, and conclusions but is intended for use by the client only?
How long must an appraiser retain the workfile for an appraisal assignment under USPAP?
If an appraiser uses a hypothetical condition that the subject property is 10% larger than it actually is, this must be:
Under Standard 1, when developing a real property appraisal, an appraiser must:
An appraiser accepts an assignment to appraise a specialized industrial property but has never appraised this property type before. To comply with the Competency Rule, the appraiser:
According to the Scope of Work Rule, the scope of work must be appropriate to the:
According to Standard 1, when developing an opinion of market value, an appraiser must analyze:
A lender emails: 'We need at least $450,000 to make this loan work — can you take the assignment?' Accepting on that basis is:
An appraiser is developing an opinion of market value for a 20-unit apartment building. The appraiser finds three comparable sales with the following information: Sale 1: 18 units, sold for $1,800,000; Sale 2: 22 units, sold for $2,200,000; Sale 3: 24 units, sold for $2,280,000. What is the average price per unit for these comparables?
In developing a scope of work, an appraiser must consider all of the following factors EXCEPT:
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