What designation applies to an appraiser of noncomplex one- to four-unit residential properties with a transaction value of less than $1 million?

The designation that applies to an appraiser of noncomplex one- to four-unit residential properties with a transaction value of less than $1 million is the licensed real property appraiser. This designation allows appraisers to work on properties that fall within the parameters outlined, specifically focusing on residential properties that do not involve complex scenarios.

Licensed real property appraisers are equipped with the necessary training and qualifications to assess such properties accurately, adhering to state regulations and standards. This licensing level provides a balance that reflects the skill required for these types of appraisals, while also limiting the scope to ensure that the appraisers are operating within their competencies, especially in the context of noncomplex properties.

The other designations, while relevant in the broader appraisal field, do not specifically apply to noncomplex residential properties below the $1 million threshold as effectively as the licensed real property appraiser designation. For instance, a certified residential appraiser holds a higher qualification that allows for more complex property evaluations, while the registered appraiser designation is often a preliminary step in an appraiser's career. The general certified appraiser designation encompasses a broader range of properties, including commercial and complex appraisals, which is not applicable to the specified scenario.