Question 8

A certified appraiser may give a supportable opinion of market value to be used in seeking a federally related loan to finance a real estate transaction.

A certified appraiser is specifically qualified to provide appraisals that meet federal standards, making their opinions of market value supportable for loans guaranteed by federal entities.

A) a certified appraiser

This option is correct because a certified appraiser possesses the necessary qualifications and training to evaluate property value in accordance with federal regulations. Their appraisals are recognized and accepted for federally related transactions, ensuring that the valuation is accurate and credible.

B) a licensed real estate broker

While a licensed real estate broker has knowledge of the market and can provide insights about property values, they are not necessarily trained or certified to perform appraisals. Therefore, their opinions may not meet the rigorous standards required for federally related loans.

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

This option is incorrect because not all real estate licensees have the expertise or certification required to give a supportable opinion of market value needed for federal loans. Only certified appraisers are recognized for this purpose, emphasizing the importance of specialized training.

D) a Certified Public Accountant

Although a Certified Public Accountant may provide financial insights, they do not have the specific training or certification to appraise real estate values for federally related loans. Their expertise lies in accounting and finance, not in property valuation.

Conclusion

The correct answer, a certified appraiser, is definitive as they are specifically trained and certified to provide valuations that comply with federal standards. In contrast, the other options do not possess the necessary qualifications to support market value opinions for federally related loans, thus failing to meet the criteria required for such transactions.