True or False: A review appraiser can use an extraordinary assumption in a review assignment.

Study for your USPAP 15-Hour Course Test. Dive into flashcards and multiple choice questions, each equipped with detailed explanations. Prepare effectively for your appraisal certification!

In the context of appraisal reviews, a review appraiser cannot use an extraordinary assumption in their review assignment. Extraordinary assumptions are defined as assumptions that, if found to be false, could affect the appraiser's opinions or conclusions. These are typically employed in initial appraisal reports to address conditions that might not be fully verified or are not typical.

A review appraisal focuses on the assessment of another appraiser's work, ensuring that it adheres to the established standards and guidelines. Introducing extraordinary assumptions at this stage would undermine the integrity of the review process, as it could lead to speculative or unfounded conclusions about the quality and accuracy of the original appraisal.

Review appraisers must base their assessments on established facts and verifiable information rather than make assumptions that could jeopardize the validity of their evaluation. This foundational principle supports the idea that a review appraiser should not employ extraordinary assumptions in their analysis.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy