McKissock USPAP Chapter 9 Questions and Answers 2024

McKissock USPAP Chapter 9 Questions and Answers 2024 Standard 3 States... -Develop a credible opinion as to the quality of another appraiser's work performed as part of an appraisal or appraisal review assignment -Report the results of an appraisal review assignment in a manner that is not misleading Appraisal Review The act or process of developing and communicating an opinion about the quality of another appraiser's work that was performed as part of an appraisal or appraisal review assignment. What does Standard 3 cover? STANDARD 3 contains both the minimum development and reporting requirements for appraisal review assignments. Does a reviewer always have to develop an opinion of value? USPAP does not require a reviewer to develop an opinion of value in every appraisal review assignment. What is a reviewer required to do? Rather, a reviewer is required to identify - for each assignment - whether it is necessary to develop this opinion in order to produce credible assignment results for the intended use.