Certified Residential Appraiser Practice Exam

According to USPAP, who is responsible for enforcing its standards?

1. The federal government

2. Individual state appraiser licensing and certification agencies

3. A national appraisal board

4. The appraisers themselves

The correct answer is: Individual state appraiser licensing and certification agencies

According to USPAP (Uniform Standards of Professional Appraisal Practice), the enforcement of its standards is primarily the responsibility of individual state appraiser licensing and certification agencies. These agencies are tasked with regulating appraisers within their respective states, ensuring that they adhere to the standards set forth by USPAP. Each state agency develops its own specific regulatory structure and enforces compliance through various means, such as licensing, complaints, audits, and disciplinary actions against appraisers who fail to meet the established standards. This framework allows for localized oversight and ensures that appraisers operate within the legal and ethical guidelines of their state while upholding the integrity of the appraisal profession overall. While the federal government may have an interest in appraisal practices, such as through guidelines or policies that influence state regulations, the direct enforcement of USPAP standards is executed by state agencies. Other options like a national appraisal board or the appraisers themselves may contribute to the discussion of standards and best practices but lack formal authority for enforcement.