Which of these is NOT one of the steps required by USPAP when an appraiser wishes to perform an assignment for which he or she initially lacks knowledge and experience?

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

Which of these is NOT one of the steps required by USPAP when an appraiser wishes to perform an assignment for which he or she initially lacks knowledge and experience?

Explanation:
When an appraiser lacks knowledge or experience for an assignment, USPAP requires taking steps to become competent or to involve someone who is. The right approach is to disclose the lack of knowledge to the client before agreeing to the assignment, seek appropriate guidance or training to gain the necessary competence, and, if still lacking, consider using another appraiser who has the required knowledge. Using a hypothetical condition to complete the assignment as though the appraiser already had the knowledge misrepresents the appraiser’s qualifications and is not an appropriate or required step under USPAP. Hypothetical conditions are tools for outlining assumed facts, not a way to substitute for actual competence. So the option involving a hypothetical condition does not fit USPAP’s requirements in this situation.

When an appraiser lacks knowledge or experience for an assignment, USPAP requires taking steps to become competent or to involve someone who is. The right approach is to disclose the lack of knowledge to the client before agreeing to the assignment, seek appropriate guidance or training to gain the necessary competence, and, if still lacking, consider using another appraiser who has the required knowledge. Using a hypothetical condition to complete the assignment as though the appraiser already had the knowledge misrepresents the appraiser’s qualifications and is not an appropriate or required step under USPAP. Hypothetical conditions are tools for outlining assumed facts, not a way to substitute for actual competence. So the option involving a hypothetical condition does not fit USPAP’s requirements in this situation.

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