Which of the Following Statements Regarding Certification of Appraisers Is

question 10

Multiple Choice

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.

---

Definitions:

Investor

An entity or individual who commits funds hoping to achieve monetary rewards.

Compounded Semi-Annually

Describes the method of determining interest by applying it to both the original amount of money invested or loaned and any interest that has already been added to that amount, occurring two times annually.

Compounded Quarterly

Interest on an investment or loan is calculated four times a year, with each calculation including the interest from previous periods.

Equal Payments

Consistent payment amounts made regularly over a period, typical in loans and annuities.