Question

At its first meeting in 1989, the Appraisal Standards Board (ASB)

a) Adopted the Code of Ethics and Appraisal Standards
b) Established the Uniform Standards of Professional Appraisal Practice
c) Drafted guidelines for property valuation
d) Formed the Appraisal Qualifications Board

Answer 1

The Appraisal Standards Board (ASB) established the Uniform Standards of Professional Appraisal Practice (USPAP) at its first meeting in 1989.

The correct answer is b)

Step-by-step explanation:

The correct answer is b) Established the Uniform Standards of Professional Appraisal Practice.

At its first meeting in 1989, the Appraisal Standards Board (ASB) established the Uniform Standards of Professional Appraisal Practice (USPAP). USPAP provides ethical and professional standards for real estate appraisal in the United States.

USPAP ensures that appraisers follow consistent and ethical practices, which helps to maintain public trust in the appraisal profession.

The correct answer is b)