There is no national board that regulates state appraisal standards. The Appraisal Subcommittee (ASC) is responsible for overseeing the activities of state appraisal agencies and the Appraisal Standards Board (ASB) is responsible for USPAP. The way I understand it, the state appraisal agencies use USPAP as a minimum standard but may expand upon it. Such expansion is not regulated at a national level.
I guess if you consider the establishment of a minimum standard as regulation it could be the ASB.
If it's an exam question, we need the choices to provide the correct answer. Keep in mind, the best way to make passing scores on examinations is to select the most correct answer.
Sometimes, using the process of elimination will maximize your chance of honing in on the most correct answer. Eliminate the obviously incorrect choices. In most cases, that will take care of two or three. Read the remaining choices carefully and look for distractions. Pick the most correct answer. It may not be "right", but it will give you a point in the "win" column.