Certified Residential Appraiser Practice Exam

Under the 2018 AQB Criteria, what is the minimum educational requirement for a Certified Residential credential?

1. Master's degree

2. Bachelor's degree or alternative

3. High school diploma

4. Professional certification

The correct answer is: Bachelor's degree or alternative

The minimum educational requirement for a Certified Residential credential, according to the 2018 AQB (Appraisal Qualifications Board) Criteria, is a Bachelor's degree or an acceptable alternative. This requirement is established to ensure that appraisers possess a foundational level of higher education, which equips them with critical thinking, comprehension, and analytical skills essential for conducting property appraisals competently. The inclusion of an "alternative" option recognizes that while a Bachelor's degree is the standard, there may be other educational avenues or equivalent experiences that can fulfill this requirement, such as a combination of college courses, professional development, and appraisal-related experience. This flexibility allows for a broader range of candidates to qualify for certification while still maintaining the integrity and standards required in the appraisal profession. In contrast, options like a Master's degree, a high school diploma, or a professional certification do not meet the specific educational threshold set by the AQB for the Certified Residential credential. A Master's degree exceeds the minimum requirement, while a high school diploma falls short, and a professional certification alone does not provide the requisite educational foundation. This structuring aims to uphold a consistent and competent standard across all credentialed residential appraisers.