Which of the following statements regarding certification of appraisers is correct?
A) It is illegal to undertake an appraisal unless that person is properly certified
B) Appraisers may be certified by each state as long as federal guidelines are adhered to
C) Certified appraisers must be used for every loan whether or not the lender is federally related
D) All appraisers with peer designations have been grandfathered into state certified status.

Question

Quizplus · Accepted Answer

Appraisers can be certified by each state as long as they adhere to federal guidelines, but it is not mandatory to use certified appraisers for every loan. It is also not true that all appraisers with peer designations have been grandfathered into state certified status. Option A is not correct because it is not always illegal to undertake an appraisal without certification.

Which of the Following Statements Regarding Certification of Appraisers Is