Communication & Documentation Flashcards
7 cards from real CAR practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Communication & Documentation flashcards as text
When a review appraiser identifies a significant error in a completed appraisal report, what is the most appropriate initial action?
Answer: Document the error and communicate findings to the client per engagement terms
The review appraiser should document identified errors and communicate findings to the client according to the terms of the review engagement.
Which of the following best describes the purpose of the 'scope of work' section in an appraisal review report?
Answer: To identify what the reviewer did and did not do during the review process
The scope of work section describes the extent of the review process, including what research and analyses were and were not performed.
Under USPAP, a review appraiser who develops their own value opinion in a desk review must:
Answer: Comply with the relevant USPAP Standards for appraisal development and reporting
When a reviewer develops their own value opinion, they must comply with applicable USPAP appraisal development and reporting standards.
A field review differs from a desk review primarily in that it:
Answer: Includes an exterior or interior inspection of the subject property
A field review includes an on-site inspection (exterior and/or interior) of the subject property, unlike a desk review which is conducted without physical inspection.
When documenting comparable sales analysis in a review, the reviewer should:
Answer: Note whether the selected comparables are reasonable given market conditions
The reviewer should assess and document whether the original appraiser's comparable selection is reasonable and supported by market evidence.
Which statement about confidentiality in appraisal review is most accurate?
Answer: Reviewers must maintain client confidentiality and protect assignment-specific information
Review appraisers must protect confidential information and follow USPAP's Confidentiality section, which applies to both appraisal and review assignments.
In a review report, the 'extraordinary assumption' must be:
Answer: Clearly stated, with its potential impact on the review conclusion noted
Extraordinary assumptions must be clearly disclosed and the reviewer must indicate their potential impact on the review conclusion.