Under USPAP Standard Rule 2-3, one of the certifications states the reported analyses, opinions, and conclusions are limited only by the reported ______.

Under USPAP Standard Rule 2-3, one of the certifications states the reported analyses, opinions, and conclusions are limited only by the reported ______.

• A. Assumptions and limiting conditions
• B. Facts and data
• C. Evidence and sources
• D. Assumptions only

Answer: (A)

The certification anchors the appraiser’s analyses, opinions, and conclusions to the disclosed assumptions and limiting conditions. In USPAP, what you report as the basis for your results is not every possible fact, but the specific assumptions you relied on and the conditions you limited your work to. Those assumptions (like market stability, property condition, or tenant details) and limiting conditions (such as data gaps, access restrictions, or reliance on third-party information) define the scope. If those assumptions prove false or the limiting conditions change, the conclusions may no longer be valid. Data and facts are essential inputs, but the statement of limitation centers on the assumptions and limiting conditions that underlie the work.

The certification anchors the appraiser’s analyses, opinions, and conclusions to the disclosed assumptions and limiting conditions. In USPAP, what you report as the basis for your results is not every possible fact, but the specific assumptions you relied on and the conditions you limited your work to. Those assumptions (like market stability, property condition, or tenant details) and limiting conditions (such as data gaps, access restrictions, or reliance on third-party information) define the scope. If those assumptions prove false or the limiting conditions change, the conclusions may no longer be valid. Data and facts are essential inputs, but the statement of limitation centers on the assumptions and limiting conditions that underlie the work.