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ValuationUSPAP_appraiser_ethicsEASY

A trainee appraiser performed most of the field work for a residential appraisal, but the supervising appraiser signed the report. Under USPAP, who is responsible for the quality of the appraisal?

Correct Answer

A) The supervising appraiser who signed the report is responsible for the quality and USPAP compliance of the appraisal

Under USPAP, the appraiser who signs the certification and report assumes responsibility for the content and conclusions. The supervising appraiser must ensure the work meets USPAP standards, even if a trainee performed the field work.

Answer Options
A
The supervising appraiser who signed the report is responsible for the quality and USPAP compliance of the appraisal
B
Neither party, because the lender who ordered the appraisal assumes all responsibility
C
Only the trainee who performed the field work
D
The property owner whose property was appraised

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Related Topics & Key Terms

Key Terms:

USPAPtraineesupervisory_appraiserresponsibilityvaluation
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