USPAP Practice Exam 2025 – Complete All-in-One Guide to Mastering Professional Appraisal Standards

Question: 1 / 415

What requirement must be followed when developing an opinion of value?

It can be developed under any conditions

It must adhere to the requirements of the scope of work

The requirement that must be followed when developing an opinion of value is that it must adhere to the requirements of the scope of work. The scope of work establishes the parameters within which the appraisal process is conducted, including the methods, data sources, and analysis required. It ensures that the valuation is appropriate for the intended use and meets the expectations of the client and any relevant standards.

When appraisers follow the predetermined scope of work, they demonstrate professionalism and integrity in their valuation process, further assuring the credibility of their opinion of value. This requirement reflects the principles outlined in USPAP, highlighting the importance of transparency and consistency in appraisal practice.

The other choices do not align with the established requirements of USPAP. Developing an opinion of value under any conditions could lead to inconsistencies and unreliable valuations. Furthermore, the process is not deemed optional based on the client's satisfaction; the integrity of the appraisal process must be maintained regardless of client opinions. Lastly, avoiding reference to the original appraisal could hinder understanding or context, which is typically not advisable in valuation practice.

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It is optional if the client is satisfied with the existing opinion

It should avoid referencing the original appraisal

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