Which is NOT a responsibility of the Appraisal Subcommittee (ASC)?

The Appraisal Subcommittee (ASC) plays a crucial role in overseeing the real estate appraisal industry at the national level. One of its primary responsibilities includes maintaining a national registry of licensed appraisers, which is essential for ensuring that only qualified individuals are performing appraisals. Additionally, the ASC actively monitors appraiser activities to ensure compliance with federal and state regulations, and it oversees state appraiser certification programs to ensure they meet established standards.

However, the issuance of appraisal credentials is not a responsibility of the ASC. Instead, this function typically falls under the jurisdiction of the individual state appraisal boards, which are responsible for licensing and credentialing appraisers within their respective states. The ASC's role is more about oversight and ensuring that state programs align with national standards, rather than directly issuing credentials to appraisers. Thus, the correct answer reflects the specific responsibilities allocated to the ASC versus those managed by state authorities.