USPAP Practice Exam 2025 – Comprehensive Test Prep

The correct response indicates that the Appraisal Subcommittee is the entity responsible for maintaining the official National Registry of state certified and licensed appraisers. This is a crucial function because the National Registry serves as a comprehensive database that includes the names and information of all appraisers who meet the required standards as per the regulations set forth by federal legislation.

The Appraisal Subcommittee (ASC) was established by the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) and oversees the appraisal process in the United States. It ensures that state appraisal regulatory agencies comply with the requirements of FIRREA and that appraisers are properly certified and licensed. By maintaining the National Registry, the ASC helps promote the integrity of the appraisal profession and ensures that appraisers are held to the necessary professional standards.

Other entities mentioned are involved in appraisal-related activities, but they do not have the specific responsibility of maintaining the official registry. The Appraisal Consumers Association focuses on the interests of appraisal consumers, the Appraisal Standards Board develops the standards for the appraisal industry (specifically USPAP), and the American Society of Appraisers is a professional organization for appraisers that provides education and certification but does not manage the National Registry.