What does ASC stand for in the context of real estate appraisal regulation?

What does ASC stand for in the context of real estate appraisal regulation?

• A. Appraisal Standards Council
• B. Appraisal Subcommittee
• C. Appraisal Supervisory Committee
• D. American Society of Chartered Appraisers

Answer: (B)

In real estate appraisal regulation, ASC stands for Appraisal Subcommittee. It’s a federal body under the FFIEC that oversees state appraisal regulatory agencies, ensuring they license, certify, and discipline real property appraisers and report data on regulatory performance. This oversight role is what ties ASC to regulation, not the development of appraisal standards or professional societies. The other names refer to different functions: one is a standards-setting arm of the Appraisal Foundation, another isn’t a recognized regulatory body, and the last is not related to appraisal regulation.

In real estate appraisal regulation, ASC stands for Appraisal Subcommittee. It’s a federal body under the FFIEC that oversees state appraisal regulatory agencies, ensuring they license, certify, and discipline real property appraisers and report data on regulatory performance. This oversight role is what ties ASC to regulation, not the development of appraisal standards or professional societies. The other names refer to different functions: one is a standards-setting arm of the Appraisal Foundation, another isn’t a recognized regulatory body, and the last is not related to appraisal regulation.