Which of the following statements is true about appraisals? Unset starred question "Appraisal" and "CMA" are interchangeable terms for a property valuation. Appraisals may only be performed by certified appraisers (with certain exceptions in some states). Either certified appraisers or managing brokers may perform appraisals. Real estate licensees may perform appraisals on foreclosed properties, but a certified appraiser must perform all other appraisals