USPAP Practice Exam 2025 – Comprehensive Test Prep

The Appraisal Standards Board is the correct choice because it is the designated body responsible for the development, proposal, and maintenance of the Uniform Standards of Professional Appraisal Practice (USPAP). Once an exposure draft regarding proposed changes to USPAP is drafted, it is the Appraisal Standards Board that reviews and approves these changes before they become part of the official standards.

The other organizations mentioned, while related to appraisal practices, have different roles. The National Appraisal Institute focuses on education and advocacy for appraisers. The Appraiser Qualifications Board is primarily responsible for setting the qualifications for appraisers, such as licensing and certification processes. The Appraisal Subcommittee oversees the activities of the state appraisal regulatory agencies and ensures that they are in compliance with federal law, but it does not participate directly in the approval of USPAP changes. Therefore, the responsibility for approving exposure drafts lies explicitly with the Appraisal Standards Board.