Certified Residential Appraiser Practice Exam

When might an appraiser question the appropriateness of their appraisal approach?

1. When new information about the property arises

2. After sending the report to the client

3. Only if the client disagrees with the appraisal

4. At the conclusion of the appraisal

The correct answer is: When new information about the property arises

An appraiser might question the appropriateness of their appraisal approach when new information about the property arises. This is because any additional insights or data can significantly influence the value outcome and the methods used to reach that conclusion. For instance, if new comparable sales data, zoning changes, or information on property conditions emerge, the appraiser has a responsibility to reassess their previous decisions and ensure the appraisal remains accurate and reflective of the current market conditions. In contrast, questioning the approach after sending the report to the client or only if the client disagrees may not be proactive. It is essential for appraisers to remain attentive to information flow throughout the appraisal process, rather than reacting only after the completion of an appraisal or client feedback. Additionally, simply concluding the appraisal does not provide a basis for questioning the approach, as appraisers need to maintain a continuous evaluation throughout the entire appraisal process. This proactive stance maintains the integrity and credibility of the appraisal.