An appraiser performs an appraisal assignment and develops an opinion of value. This value opinion is

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Study for the McKissock 15hr National USPAP Test. Use flashcards and multiple-choice questions with hints and explanations. Get ahead in your appraisal career!

Multiple Choice

An appraiser performs an appraisal assignment and develops an opinion of value. This value opinion is

Explanation:
The final product of an appraisal assignment is the assignment results. In USPAP, the assignment results encompass the appraiser’s conclusions (including the value opinion) plus the data, analysis, and reasoning that support them. So the value opinion is a key part of the assignment results, but the assignment results is the complete product produced by the assignment. The other options describe either the type of value that might be stated (a market value) or the means of communicating the conclusions (an appraisal report), rather than the full product created by the assignment.

The final product of an appraisal assignment is the assignment results. In USPAP, the assignment results encompass the appraiser’s conclusions (including the value opinion) plus the data, analysis, and reasoning that support them. So the value opinion is a key part of the assignment results, but the assignment results is the complete product produced by the assignment. The other options describe either the type of value that might be stated (a market value) or the means of communicating the conclusions (an appraisal report), rather than the full product created by the assignment.

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