Certified Residential Appraiser Practice Exam

Which of the following is an outcome of the Dodd-Frank Act?

1. Increased funding for appraisals

2. The establishment of a National Registry for appraisers

3. The authority to regulate political advertisements

4. The capacity to conduct market research

The correct answer is: The establishment of a National Registry for appraisers

The establishment of a National Registry for appraisers is a significant outcome of the Dodd-Frank Act, which was enacted in response to the 2008 financial crisis. The Act aimed to enhance consumer protection and improve the stability of the financial system. One of its provisions was the creation of a National Registry to ensure that all appraisers had to meet certain standards and qualifications necessary to perform appraisals for federally related transactions. This registry is crucial for maintaining the integrity and professionalism of the appraisal industry, allowing for better oversight and accountability. The other options present avenues that the Dodd-Frank Act does not address. Increased funding for appraisals was not a focus of the Act, nor was there any provision regarding the regulation of political advertisements. While the capacity to conduct market research may relate to financial analysis and economic forecasting, it is not a direct outcome of the Dodd-Frank Act. The emphasis of the Act lies primarily in financial oversight, consumer protection, and regulatory measures concerning financial institutions and practices.