What independent board was established within The Appraisal Foundation in 2010?

The Appraisal Practices Board was established within The Appraisal Foundation in 2010 to provide guidance on recognized practices and techniques in the appraisal profession. Its primary role is to enhance the overall quality and consistency of appraisal practices by developing and issuing guidance documents that focus on specific topics relevant to appraisers. This board is viewed as essential for promoting best practices, ensuring appraisers have access to up-to-date information, and fostering ethical standards within the profession.

The other choices, such as the Appraisal Standards Board and the Appraiser Qualifications Board, were created prior to 2010 and focus on different aspects of the appraisal profession. The Appraisal Standards Board is responsible for developing and maintaining the Uniform Standards of Professional Appraisal Practice (USPAP), while the Appraiser Qualifications Board creates qualifications necessary for appraisers. The Professional Ethics Board, while also important, is not a part of The Appraisal Foundation's structure but rather focuses on ethical standards in general practice. Thus, the establishment of the Appraisal Practices Board in 2010 highlights a significant step towards addressing evolving challenges and needs within the appraisal profession.