McKissock 15hr National USPAP Practice Test

A CMA performed by a broker is a valuation service. It involves creating an opinion of what a property is worth in the current market to help set a listing price. It isn’t a formal USPAP-compliant appraisal assignment, which would require a licensed appraiser, a defined scope of work, and specific USPAP guidelines. A market feasibility study looks at whether a project makes sense in the market rather than estimating current value, and a financial audit focuses on validating financial statements, not property value. So the broker’s CMA fits the definition of a valuation service.