Final answer:
The Appraisal Foundation has three principal boards: the Appraisal Standards Board (ASB), the Appraisal Qualifications Board (AQB), and the Appraisal Practices Board (APB), which are key in establishing and promoting appraisal standards, qualifications, and practices.
Step-by-step explanation:
The question pertains to the structure of the Appraisal Foundation, a prominent organization in the field of real estate appraisal in the United States. The Foundation has several boards that guide its operations and standards, but the question specifically asks for the three principal boards within the organization. Though the reference information provided about the Open Society Foundations and individuals such as Jumee Yhu, David E. Park III, and Brian D. Patterson is irrelevant to the Appraisal Foundation, we can still discuss the fundamental structure of the Appraisal Foundation.
The Appraisal Foundation's main boards are as follows:
- The Appraisal Standards Board (ASB), which is responsible for writing, amending, and interpreting the Uniform Standards of Professional Appraisal Practice (USPAP).
- The Appraisal Qualifications Board (AQB), which establishes the qualification criteria for appraisers to obtain and maintain their state certification.
- The Appraisal Practices Board (APB), which provides voluntary guidance on recognized valuation methods and techniques for all appraisal professionals.
This structure is central to the Foundation's purpose of fostering professionalism among appraisers through establishing, improving, and promoting the quality of appraisal practice in a manner that upholds public trust.