Why is the date a data extract was pulled worth recording in the workfile?
Correct Answer
A) Databases are revised, and the record may since have changed
Why this is correct: Data sources like MLS and public records are dynamic and subject to correction. Recording the extract date documents the specific data set the appraiser relied on at the time of analysis, which may differ from data retrieved later. This supports transparency and replicability. Why the other choices are wrong: "Extracts expire and become unusable after ninety days" is incorrect; there is no universal expiration rule, though data may become stale. "Data providers require the date for billing purposes" is incorrect; while possible, the primary appraisal reason is to document the analysis basis. "The extract date establishes the effective date of value" is incorrect; the effective date is a separate assignment parameter set by the client. Exam tip: Always date your data extracts to create a snapshot of what you saw when you did the work.
Why This Is the Correct Answer
Why this is correct: Data sources like MLS and public records are dynamic and subject to correction. Recording the extract date documents the specific data set the appraiser relied on at the time of analysis, which may differ from data retrieved later. This supports transparency and replicability. Why the other choices are wrong: "Extracts expire and become unusable after ninety days" is incorrect; there is no universal expiration rule, though data may become stale. "Data providers require the date for billing purposes" is incorrect; while possible, the primary appraisal reason is to document the analysis basis. "The extract date establishes the effective date of value" is incorrect; the effective date is a separate assignment parameter set by the client. Exam tip: Always date your data extracts to create a snapshot of what you saw when you did the work.
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