“ASA” stands for the “American Society of Appraisers” and also for members with the designation of “Accredited Senior Appraiser.” An appraiser must invest in academic study, hands-on, full-time experience, and must prove competency through passing qualifying examinations in valuation theory, ethics, and at least one specialty, plus peer-review approval of appraisal reports. AM designation requires two years of full-time appraising experience, and ASA designation requires five years. FASA is the highest level, only awarded to ASA-level members by the Board of Governors for notable contributions to the society and the appraisal profession