Which board is responsible for developing the standards for appraisal practice?

• A. Appraisal Standards Board (ASB)
• B. Appraisal Subcommittee (ASC)
• C. Appraiser Qualification Board (AQB)
• D. Board of Trustees (BOT)

Answer: (A)

The key idea here is who actually creates the standards that govern how appraisers practice. The Appraisal Standards Board is the body that writes and updates USPAP—the standards, statements, and rules that guide appraisal practice and reporting. They are the standard-setters you study when you learn USPAP.

The other organizations have different roles. The Appraisal Subcommittee oversees state appraisal regulatory programs and ensures they comply with USPAP, but it doesn’t develop the standards itself. The Appraiser Qualification Board sets the minimum education and experience requirements for credentialing appraisers, not the practice standards. The Board of Trustees isn’t the entity responsible for USPAP at all.