What are the two written report options specified in USPAP STANDARD 2?

The correct choice identifies the two written report options specified in USPAP (Uniform Standards of Professional Appraisal Practice) STANDARD 2 as "Appraisal Report and Restricted Appraisal Report."

An Appraisal Report is a comprehensive document that provides enough detail and explanation so that intended users can understand the appraiser's analyses, opinions, and conclusions. This type of report is generally used when the intended audience is broad and may include individuals not familiar with technical appraisal language.

On the other hand, a Restricted Appraisal Report is more concise and is intended for a specific user or users. It includes the essential information and conclusions but may omit some of the detailed reasoning and background data typically found in a full Appraisal Report. This type of report is often used when the appraisal is being conducted for a specific purpose, and the appraiser has been instructed to limit the information provided.

The other options either reference terms that do not align with USPAP standards or combine aspects of report types in ways that are not consistent with USPAP guidelines. Understanding the distinction between these two report types is critical for appraisers in order to communicate their findings effectively.