Under USPAP Standard Rule 2-3, the statements of fact contained in this report are ______.

Under USPAP Standard Rule 2-3, the statements of fact contained in this report are ______.

• A. True and correct
• B. Stated as facts and supported by data
• C. False and inaccurate
• D. Unreliable

Answer: (A)

Facts in an appraisal report must be true and correct. The appraiser is responsible for ensuring every statement of fact—such as property characteristics, ownership, dates, measurements, and data drawn from records or inspections—is accurate and not misleading. When data from third parties is used, its source should be disclosed, but the factual statements themselves must reflect reality and be supported by reliable information. Opinions about value or methodology are separate; they should be clearly identified as opinions and based on the data and assumptions used. Therefore, the best completion is that the statements of fact are true and correct.

Facts in an appraisal report must be true and correct. The appraiser is responsible for ensuring every statement of fact—such as property characteristics, ownership, dates, measurements, and data drawn from records or inspections—is accurate and not misleading. When data from third parties is used, its source should be disclosed, but the factual statements themselves must reflect reality and be supported by reliable information. Opinions about value or methodology are separate; they should be clearly identified as opinions and based on the data and assumptions used. Therefore, the best completion is that the statements of fact are true and correct.