Which of the following is a primary function of the Appraisers Qualifications Board?

Which of the following is a primary function of the Appraisers Qualifications Board?

• A. Creating the National Appraisal Database
• B. Establishing minimum standards for education and qualifications
• C. Reviewing appraisal reports for accuracy
• D. Assessing the financial impact of appraisals

Answer: (B)

The primary function of the Appraisers Qualifications Board (AQB) is to establish minimum standards for education and qualifications required to become a licensed or certified appraiser. This is crucial for ensuring that appraisers possess the necessary knowledge and skills to perform appraisals effectively and ethically. By setting these standards, the AQB helps to maintain the integrity of the appraisal profession, providing a framework that ensures appraisers are competent and qualified to serve their clients and the public interest. In contrast, creating the National Appraisal Database, reviewing appraisal reports for accuracy, and assessing the financial impact of appraisals are not functions that fall under the AQB's responsibilities. Instead, these tasks may involve different organizations or entities within the real estate appraisal industry or its regulatory frameworks. The AQB focuses specifically on the qualifications and education aspects, making its role fundamental to the professional development and regulatory oversight of appraisers.

The primary function of the Appraisers Qualifications Board (AQB) is to establish minimum standards for education and qualifications required to become a licensed or certified appraiser. This is crucial for ensuring that appraisers possess the necessary knowledge and skills to perform appraisals effectively and ethically. By setting these standards, the AQB helps to maintain the integrity of the appraisal profession, providing a framework that ensures appraisers are competent and qualified to serve their clients and the public interest.

In contrast, creating the National Appraisal Database, reviewing appraisal reports for accuracy, and assessing the financial impact of appraisals are not functions that fall under the AQB's responsibilities. Instead, these tasks may involve different organizations or entities within the real estate appraisal industry or its regulatory frameworks. The AQB focuses specifically on the qualifications and education aspects, making its role fundamental to the professional development and regulatory oversight of appraisers.