Hawaii Pre-Licensing National Practice Exam

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Prepare for the Hawaii Pre-Licensing National Exam. Study with flashcards and multiple choice questions, each question provides hints and explanations. Get ready for success!

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Which of the following refers to an appraiser's designation by the appraisers society?

Accredited Residential Appraiser (ARA)
Certified Residential Appraiser (CRA)
Member Appraisal Institute (MAI)
Licensed Appraiser (LA)

The correct answer is: Member Appraisal Institute (MAI)

The designation of a Member Appraisal Institute (MAI) signifies a level of professional achievement recognized by the Appraisal Institute, a prestigious organization in the field of real estate appraisal. This designation is awarded to individuals who have demonstrated a high level of competency through education, extensive experience, and adherence to professional ethics and standards. The MAI designation is particularly valued for its rigorous standard of knowledge in appraising commercial and income-producing properties. In contrast, the other designations, while important in their own right, do not carry the same level of recognition within the industry as the MAI when it comes to qualifications for complex appraisal tasks and leadership within the appraisal profession. The Accredited Residential Appraiser (ARA), Certified Residential Appraiser (CRA), and Licensed Appraiser (LA) designations focus on different aspects and scopes of appraisal work but do not carry the same weight as the MAI for comprehensive appraisal expertise.