Uniform Standards of Professional Appraisal Practice (USPAP) Practice Exam

Which responsibility is NOT listed under the functions of the ASC?

1. Establishing appraisal education standards

2. Maintaining a National Registry of appraisers

3. Chairing national appraisal conventions

4. Issuing credentials to state appraisers

The correct answer is: Chairing national appraisal conventions

The functions of the Appraisal Subcommittee (ASC) are primarily focused on the oversight and regulation of appraisers and appraisal practices to ensure compliance with federal laws and standards. Among these functions, establishing appraisal education standards, maintaining a National Registry of appraisers, and issuing credentials to state appraisers are key responsibilities that align with the ASC's mission to enhance the integrity and uniformity of appraisals in the market. However, chairing national appraisal conventions is not a function typically associated with the ASC. This role usually falls outside their mandate since the ASC is more focused on regulatory and oversight functions rather than organizing or presiding over conventions or conferences. This distinction highlights that the ASC's main responsibilities revolve around regulation, oversight, and ensuring compliance within the appraisal industry, rather than managing events or convening groups.