Certified Automotive Appraiser (CAA)

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An appraiser completes a valuation report for an insurance total loss settlement. The client later asks to use the same report to obtain a loan, using the car as collateral. Which section of the original report is most critical in explaining why this is not appropriate without a new assignment?

The list of comparable vehicles. The Scope of Work and Intended Use statement. The photographs of the subject vehicle. The appraiser's signature and certification date.

Correct Answer:

The Scope of Work and Intended Use statement.

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