Okay, after some more code debugging, I developed a fix for this issue. The different option strings need to also have a name string attached. In case anyone else runs into this issue, the changes are highlighted in the follow code sampling, which I have included below:
Code:
<!-- START CHARACTER ARCHTYPE -->
<tr valign="top">
<td class="alt1" width="50%">
<strong>$vbphrase[usml_staffapp_chararchtype]</strong>
</td>
<td class="alt2">
<select name="chartype" value="$vbgpc[chartype]">
<option value="Select">(Select One)</option>
<option name="chartype" value="Option1">Option1</option>
<option name="chartype" value="Option2">Option2</option>
<option name="chartype" value="Option3">Option3</option>
</select>
</td>
</tr>
<!-- END CHARACTER ARCHTYPE -->