State appraiser regulatory agencies are responsible for all of the following EXCEPT:
Correct Answer
C) Promulgating USPAP as the Appraisal Standards Board
The ASB of the private, nonprofit Appraisal Foundation promulgates USPAP. State appraiser programs issue credentials and investigate or discipline appraisers under applicable state authority; the ASC monitors program compliance with Title XI. USPAP’s incorporation into law or regulation does not make the Foundation or ASB a federal agency. Keep the functions of standards development and governmental enforcement distinct.
Why This Is the Correct Answer
Option C is correct because the Appraisal Standards Board promulgates USPAP for both appraisers and users of appraisal services. The ASB is part of The Appraisal Foundation, a private nonprofit organization, not a state agency. Promulgating USPAP is therefore not a responsibility of state appraiser regulatory agencies.
Why the Other Options Are Wrong
Option A: Investigating appraiser complaints within state authority
Option A, investigating appraiser complaints within state authority, is a real function of state appraiser regulatory agencies. Because the question asks for the exception, this is not the answer.
Option B: Issuing appraiser licenses and certifications
Option B, issuing appraiser licenses and certifications, is a core function of state appraiser regulatory agencies. It is not the exception.
Option D: Enforcing applicable USPAP obligations through state authority
Option D, enforcing applicable USPAP obligations through state authority, is something state agencies do when state law requires USPAP compliance. It is not the exception.
ASB writes, states enforce
The Appraisal Standards Board writes the rulebook; state boards license appraisers and enforce the rules.
How to use: Use this split to identify which body performs a given function in regulatory questions.
Exam Tip
On EXCEPT questions, confirm each listed function belongs to the named body, then choose the one that belongs to a different organization.
Common Mistakes to Avoid
- -Thinking state boards write or amend USPAP
- -Believing The Appraisal Foundation is a federal agency
- -Confusing the Appraisal Subcommittee with the Appraisal Standards Board
Concept Deep Dive
Analysis
This EXCEPT question tests the division of roles between standard-setting and government regulation. State appraiser regulatory agencies credential, investigate, and discipline appraisers under state authority, but they do not write USPAP. The Appraisal Standards Board of The Appraisal Foundation promulgates USPAP.
Background Knowledge
The appraisal regulatory structure separates standard-setting from enforcement. The ASB writes USPAP, state programs credential and discipline appraisers under state law, and the Appraisal Subcommittee monitors state programs for compliance with Title XI. Incorporation of USPAP into law does not make the Foundation or ASB a government agency.
Real-World Application
A homeowner files a complaint about an appraisal with the state appraiser board. The board investigates under state law using USPAP as the standard, but any change to USPAP itself would come from the Appraisal Standards Board.
More USPAP Questions
An appraiser signs, finalizes and electronically transmits a residential appraisal report to the client on March 15. Its value opinion has a March 1 effective date. The client does not open the transmitted report until March 20. What is the report date?
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A client asks an appraiser to raise a completed report’s value conclusion by $15,000 solely to match the contract price, without providing new evidence. What should the appraiser do?
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