Certified Residential Appraiser Practice Exam

What is the mission of the Appraisal Subcommittee?

1. To create appraisal guidelines

2. To ensure appraisers are trained and tested for competency

3. To promote the appraisal profession

4. To oversee real estate transactions

The correct answer is: To ensure appraisers are trained and tested for competency

The Appraisal Subcommittee's mission primarily focuses on ensuring that appraisers meet competency standards through appropriate training and testing. This entails establishing a framework for qualifications that appraisers must adhere to in order to provide reliable and accurate valuation services. By ensuring that appraisers are properly trained and assessed, the Appraisal Subcommittee plays a crucial role in maintaining the integrity of the appraisal profession and, by extension, the broader real estate market. While the mission encompasses various aspects of oversight and promotion of appraisal standards, the emphasis on competency training and testing remains paramount. This approach ensures that appraisers possess the necessary knowledge and skills to complete appraisals that meet regulatory requirements and industry standards, fostering trust and reliability in property valuations.