Valuation Reporting Requirements Flashcards
7 cards from real SAEE practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Valuation Reporting Requirements flashcards as text
A complete appraisal report must always include which of the following?
Answer: The effective date of the value opinion
The effective date establishes the point in time to which the value opinion applies and is a mandatory disclosure.
Which report option provides the most comprehensive level of detail under reporting standards?
Answer: Appraisal report
An appraisal report contains more detail and supporting analysis than a restricted appraisal report.
A restricted appraisal report is appropriate when:
Answer: There is only one identified intended user
Restricted reports are limited to a single client/intended user because the supporting detail is kept in the workfile.
The intended use of an appraisal report should be:
Answer: Clearly stated by the appraiser
The appraiser must identify and state the intended use to frame the scope of work appropriately.
Which item must be retained in the workfile even if it is not fully detailed in a restricted report?
Answer: The supporting analysis and data
Restricted reports keep the supporting analysis in the workfile so the conclusions can be documented if needed.
A signed certification in an appraisal report primarily attests that:
Answer: The appraiser performed the work without bias
The certification affirms impartiality, no predetermined result, and compliance with applicable standards.
When an appraisal report references prior services on the same property, the appraiser must:
Answer: Disclose the prior service to the client
Disclosure of prior services on the same property is required to maintain transparency and independence.