STANDARD 2 sets forth requirements for

• A. Appraisal report content
• B. Appraiser license renewal procedures
• C. Property listing formats
• D. Market analysis techniques

Answer: (A)

Standard 2 focuses on how an appraisal is communicated. It sets out precisely what must be included in the appraisal report so the opinion of value is clear, defensible, and usable by the client and other intended users. This covers the basic information about the assignment, such as who the client and intended users are, the property's description and the report’s intended use, the effective date of the value opinion, and the scope of work performed. It also requires documenting the data, analysis, and reasoning used to develop the value, along with all assumptions and limiting conditions, sources of information, and any departures from USPAP. The format and level of disclosure must be appropriate for the intended users, and any limitations or disclosures required by USPAP must be included.

This standard isn’t about license renewal procedures, property listing formats, or the techniques used in market analysis. Those topics lie outside the requirements for the appraisal report content, which is the focus of Standard 2.