re 194 ass 1 arkan

Unit 1 Assignment 1 The Appraisal Profession

Please answer the following questions:

  1. What is the primary role of an appraiser, and how is their opinion of value typically presented?
  2. What are three key responsibilities of an appraiser? Why are they important?
  3. What is FIRREA, and how did it impact the appraisal profession?
  4. What are the three boards under The Appraisal Foundation, and what are their primary functions?
  5. What is USPAP, and why is it a cornerstone for appraisers?
  6. How do licensing categories differ for appraisers? Pick one and outline its qualifications.
  7. Why is objectivity essential in appraisal, and what rules ensure independence?
  8. What tools or technologies are commonly used in a modern appraisal office? Share examples.
  9. What is the purpose of trade associations for appraisers, and name two examples.
  10. What did you find most surprising about the Housing and Economic Recovery Act (HERA) of 2008?

Requirements: 1h

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