Which assignment type still requires the appraiser to develop an opinion of value?
Correct Answer
D) A hybrid appraisal using collected property data
Why this is correct: A hybrid appraisal involves separating property data collection (often by a third party) from the valuation analysis. The appraiser still develops and reports an opinion of value based on that data, fulfilling the core appraisal function. Why the other choices are wrong: Value acceptance with property data collection is a lender's decision to waive a full appraisal, not an appraiser's opinion. A standalone property data collection report only provides data, not a value opinion. An automated valuation model output alone is a computer-generated estimate, not an appraiser's developed opinion. Exam tip: If an appraiser is signing a report, they must have developed an opinion of value.
Why This Is the Correct Answer
Why this is correct: A hybrid appraisal involves separating property data collection (often by a third party) from the valuation analysis. The appraiser still develops and reports an opinion of value based on that data, fulfilling the core appraisal function. Why the other choices are wrong: Value acceptance with property data collection is a lender's decision to waive a full appraisal, not an appraiser's opinion. A standalone property data collection report only provides data, not a value opinion. An automated valuation model output alone is a computer-generated estimate, not an appraiser's developed opinion. Exam tip: If an appraiser is signing a report, they must have developed an opinion of value.
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Under current USPAP guidance, what is the output of an automated valuation model before an appraiser analyzes it?
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