The requirement to create and maintain a workfile for an appraisal or appraisal review assignment applies to:

• A. All appraisers, regardless of credential level
• B. Only certified appraisers
• C. Only licensed appraisers
• D. Only those with more than 5 years experience

Answer: (A)

All appraisers, regardless of credential level. Under USPAP, any appraisal or appraisal review assignment performed under its rules requires a workfile to be created and maintained. This file documents the data, analyses, calculations, and the appraiser’s reasoning that support the conclusions, providing a recorded basis for the opinion. The rule applies to trainees and all levels of licensure or certification because USPAP governs any assignment that requires compliance, with the supervising appraiser ensuring the work is properly compiled. Maintaining the workfile also satisfies the required retention period, making the record available for future review.