Question 54

A certified appraiser may give a supportable opinion of market value for federally-related loans.

A certified appraiser is qualified to provide an opinion of market value that is compliant with federal regulations, making their assessment suitable for use in securing federally-related loans for real estate transactions.

A) a certified appraiser

This option is correct because certified appraisers possess the necessary qualifications and training to assess property values in accordance with federal guidelines. Their opinions are recognized as credible and reliable for financial institutions involved in federally-related loans.

B) a licensed real estate broker

While licensed real estate brokers have expertise in property transactions, they are not specifically qualified to provide appraisals that meet federal standards. Their market opinions may lack the rigor and formal certification required for federally-related loans.

C) any real estate licensee, in each state in which the licensee is licensed

This option is incorrect as general real estate licensees, regardless of their state licensure, do not have the specific qualifications to provide appraisals for federally-related loans. Only certified appraisers are recognized for this purpose.

D) a Certified Public Accountant

Although Certified Public Accountants may have financial expertise, they do not typically have the specialized training in property valuation necessary to provide supportable opinions of market value for real estate transactions. Their qualifications do not extend to real estate appraisals.

Conclusion

A certified appraiser is the only choice that meets the federal requirements for providing an opinion of market value necessary for federally-related loans. The other options, while they may have relevant expertise in real estate or finance, do not possess the specific credentials to ensure their valuations are valid for this purpose. Thus, option A stands out as the definitive correct answer.