Under USPAP, when can an appraisal review be performed by an appraiser?

An appraisal review can be performed by an appraiser when they have the capacity to ensure that the review is conducted consistently with the standards and requirements outlined in the Uniform Standards of Professional Appraisal Practice (USPAP). USPAP permits appraisers to engage in both appraisals and appraisal reviews, provided they adhere to the guidelines regarding competency and scope of work.

This dual capability is important because it allows appraisers to critically evaluate the quality and reliability of another appraiser's work, assessing whether the methodology, data, and conclusions align with professional standards. The ability to perform both roles ensures that the appraiser's review remains objective and thorough, fostering a higher degree of assurance in valuation processes.

The other options reflect limitations that are not warranted under USPAP. Performing solely an appraisal for an appraisal review diminishes the scope of the appraiser’s responsibility, while a broker price opinion is distinct and typically governed by different standards and requirements. Thus, stating that an appraiser can conduct either an appraisal or an appraisal review recognizes the broad application of their skills in accordance with USPAP guidelines.