Property Valuation
In Ohio, an appraiser is required to use USPAP's 'Competency Rule,' which requires the appraiser to:
ABe licensed at the highest level for all assignments
BHave the knowledge and experience required for the assignment or disclose any lack of competence and take steps to acquire the required competency✓ Correct
CComplete 40 hours of training for every new property type
DPartner with another appraiser for all residential assignments
Explanation
USPAP's Competency Rule requires appraisers to have the competence (education, experience, knowledge) necessary for the assignment. If they lack competence, they must disclose this and take steps to acquire it before proceeding.
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