What three considerations does the SCOPE OF WORK RULE require a review appraiser to take into account for each assignment?

The SCOPE OF WORK RULE is fundamental in the appraisal process as it outlines the responsibilities of an appraiser regarding the scope of work for each assignment. The correct choice emphasizes three essential considerations: identify, perform, and report.

To begin with, identifying the problem involves determining the type of assignment or appraisal needed, which includes understanding what needs to be appraised, the purpose of the appraisal, and the relevant market conditions. It sets the foundation for the entire appraisal process.

The next step is performing the appraisal, where the appraiser gathers data, analyzes relevant information, and employs appropriate methods to arrive at a credible value opinion. This is where the appraiser exercises their professional judgment and technical competence to meet the scope outlined in the identification phase.

Finally, reporting encompasses the delivery of the findings in a manner consistent with the identified needs. An effective report communicates the appraiser's conclusions, showcases the methodology used, and provides enough detail to support the value opinion while meeting any specified reporting requirements.

Though the other options may reference various aspects of appraisal standards or reporting formats, they do not encapsulate the full process as outlined in the SCOPE OF WORK RULE. Understanding the need to identify the assignment, perform the necessary work, and report the findings would be key