Final answer:
An appraiser can be awarded a designation by a State appraisal board, Professional appraisal organizations, or in conjunction with standards set by The Appraisal Foundation. Though The Appraisal Foundation itself does not award designations directly, it works closely with entities that do. Thus, any of these entities may be involved in the designation process.
Step-by-step explanation:
In the field of real estate and property valuation, an appraiser is an individual that possesses the knowledge and expertise required to estimate the value of real estate properties. The question of who might award a designation to an appraiser has multiple answers. The entities that can award a designation include:
- A. State appraisal board - This is the regulatory body within each state that issues licenses and certifications to qualified appraisers after they fulfill the necessary education and experience requirements.
- B. Professional appraisal organization - These are specialized organizations that offer accreditation or certification to appraisers who meet their professional standards, such as the Appraisal Institute which offers the MAI designation for commercial appraisers and the SRA designation for residential appraisers.
- C. The Appraisal Foundation - While The Appraisal Foundation itself does not directly award designations, it is a significant entity as it establishes the qualifications and standards for appraisers through its Appraiser Qualifications Board (AQB) and Appraisal Standards Board (ASB). However, it works closely with other professional appraisal bodies and state boards that do award designations.
Therefore, the correct answer is D. Any of these, since each of these entities is involved in providing accreditation or certification to appraisers in some capacity.