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

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