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

The correct choice highlights that developing, amending, and interpreting the Uniform Standards of Professional Appraisal Practice (USPAP) is not a responsibility of the Appraisal Subcommittee (ASC). The ASC primarily serves to oversee and monitor the state appraisal regulatory agencies to ensure compliance with federal laws and standards, but it does not have the authority to create or revise USPAP.

USPAP is developed and maintained by the Appraisal Standards Board (ASB), which is a separate entity within the Appraisal Foundation. The ASC's functions focus on ensuring that states are following appropriate appraisal practices, monitoring their compliance, and conducting reviews related to licensing and regulatory matters. In contrast, the oversight of appraiser licensing and conducting peer reviews are activities that align with the ASC's mandate, reinforcing its role in the appraisal regulatory framework.