What is the primary role of the Appraiser Qualifications Board (AQB)?

The Appraiser Qualifications Board (AQB) plays a crucial role in establishing and maintaining the standards for appraiser qualification across the United States. It is responsible for developing the minimum education and experience requirements for appraisers seeking licensure and certification. This ensures that appraisers possess the necessary skills and knowledge to perform their duties effectively and ethically.

By overseeing appraiser licensing standards, the AQB helps to ensure consistency and professionalism within the appraisal industry. This oversight includes updating education requirements and examination criteria to reflect current practices and technologies, which is vital for maintaining public trust in property appraisals.

In contrast, regulating appraisal fees is not within the AQB's scope, as fees can vary based on the market and specific appraisal circumstances. While the AQB plays a vital role in the education and qualification of appraisers, it does not provide grants to appraisal agencies. Additionally, managing investments is outside the AQB's functions, as it primarily focuses on setting standards rather than financial management. Overall, the AQB's role in overseeing licensing standards is essential for the credibility and integrity of the appraisal profession.