For how long must an appraiser retain their workfile if the appraisal report was prepared in April 2011 and the final case disposition occurred in September 2013?

An appraiser is required to retain their workfile for a minimum of five years after the completion of an appraisal assignment. In this scenario, the appraisal report was completed in April 2011, and the final disposition of the case occurred in September 2013. Since the disposition date is significant in determining the end of the five-year retention period, the appraiser must calculate from the later date, which is September 2013.

Adding five years to September 2013 leads to September 2018. However, the relevant answer, in this case, goes back to the calculation based on the completion date of the report; hence the appraiser must keep the workfile until at least April 2015. This is because five years from the completion of the report in April 2011 would be April 2016, and the workfile must be retained until then, as long as it's within the confines of the five-year requirement.

This means that the correct choice reflects an understanding of the mandatory retention period established by standards that the appraiser must adhere to, making it crucial to consider the dates correctly to avoid potential issues regarding compliance.