Question

Each of the report options outlined in Standards Rule 2-2 (a),and (b), has twelve(12) numbered minimum content requirement items.

a. True
b. False

Answer 1

The claim about twelve minimum content requirement items in Standards Rule 2-2 (a), and (b), is false; USPAP guidelines outline varying requirements, not a fixed number of twelve for each report type.

Step-by-step explanation:

The statement regarding Standards Rule 2-2 (a), and (b), having twelve (12) numbered minimum content requirement items is false. According to the Appraisal Institute, which promotes adherence to professional standards in real estate appraisal, the Uniform Standards of Professional Appraisal Practice (USPAP) dictates different requirements for different report options. Standards Rule 2-2 outlines the report content requirements for Appraisal Reports and Restricted Appraisal Reports, but the number of minimum content items may vary and does not necessarily total twelve for each. It is essential to refer to the latest USPAP guidelines for accurate information on minimum content items required.