Question

A Supervisory Appraiser is finishing up an appraisal report on which she received significant assistance from a Trainee Appraiser. Where must a description of the Trainee's assistance appear in the report?

A) In an addendum that is personally signed by the Trainee
B) In the letter of transmittal
C) Anywhere in the report
D) Nowhere, this assistance need not be disclosed

Answer 1

A description of the Trainee's assistance must appear in the appraisal report, often in an addendum personally signed by the Trainee.

Step-by-step explanation:

In a real estate appraisal report, if a Supervisory Appraiser received significant assistance from a Trainee Appraiser, the description of the Trainee's assistance must appear in the report. However, the specific location where the description should be placed may vary depending on the appraisal report format and guidelines provided by the appraisal regulatory authority.

One common approach is to include the description of the Trainee's assistance in an addendum that is personally signed by the Trainee. This addendum should clearly outline the nature of the assistance provided and the tasks performed by the Trainee.

By disclosing the Trainee's assistance in the report, it ensures transparency, accountability, and compliance with professional standards and regulations in the field of real estate appraisal.