The organization abbreviated as ASC stands for which entity?

The organization abbreviated as ASC stands for which entity?

• A. Appraisal Standards Council
• B. American Society of Appraisers
• C. Appraisal Subcommittee
• D. Appraisal Service Corporation

Answer: (C)

ASC stands for the Appraisal Subcommittee, a federal body created to oversee state appraisal regulatory agencies and monitor appraisal practices under FIRREA. This group ensures that appraisal licensing, discipline, and standards are applied consistently across states and oversees how appraisals are used in mortgage lending. The other names refer to different entities: a different council that isn’t the ASC, a professional association (American Society of Appraisers) whose abbreviation is ASA, and a non-governmental entity not involved in national appraisal oversight. So the Appraisal Subcommittee is the correct choice.

ASC stands for the Appraisal Subcommittee, a federal body created to oversee state appraisal regulatory agencies and monitor appraisal practices under FIRREA. This group ensures that appraisal licensing, discipline, and standards are applied consistently across states and oversees how appraisals are used in mortgage lending. The other names refer to different entities: a different council that isn’t the ASC, a professional association (American Society of Appraisers) whose abbreviation is ASA, and a non-governmental entity not involved in national appraisal oversight. So the Appraisal Subcommittee is the correct choice.