USPAP USPAP Scope of Work Rule 3

Question 1

If the scope of work is narrowed compared to a typical assignment, which of the following is required under USPAP?

Accepted Answer

Disclosure of the limited scope in the report

Answer

Client approval only

Answer

A separate limited appraisal designation

Answer

State licensing board notification

Question 2

Under USPAP's Scope of Work Rule, 'extraordinary assumptions' are part of scope because they:

Accepted Answer

Affect the extent and nature of research and analysis required

Answer

Are always used in commercial appraisals

Answer

Eliminate the need for a property inspection

Answer

Are required by federal regulations

Question 3

The Scope of Work Rule requires that the scope be adequate to produce results that are 'not misleading.' This means:

Accepted Answer

The scope must not deceive or misinform intended users about the nature of the assignment

Answer

The appraiser must use the highest number of comparable sales possible

Answer

The appraiser must disclose all fees

Answer

The scope must include an interior inspection in all cases

Question 4

An appraiser is hired to appraise a unique historic property. How should the scope of work be determined?

Accepted Answer

Determine the scope based on what is needed to produce credible results for this specific assignment

Answer

Use the same scope as a standard residential appraisal

Answer

Follow the client's instructions exclusively

Answer

Use the same scope as the most recent appraisal on the property

Question 5

Under USPAP, the appraiser's decision about scope of work must be made:

Accepted Answer

Based on what produces credible results for the intended use

Answer

Independently of the client's intended use

Answer

After completing the final report

Answer

Solely on the appraiser's past practice

Question 6

The USPAP Scope of Work Rule specifies that intended users are:

Accepted Answer

The client and any other parties the appraiser identifies as intended users at the time of the assignment

Answer

Only the client who commissioned the appraisal

Answer

All parties with a financial interest in the property

Answer

Any member of the public who reads the report