Section 12.70.115. Education requirements for real estate appraiser certification.

	(a)  An applicant for certification as a general real estate appraiser must document satisfactory completion of 300 creditable classroom hours of instruction that meet the requirements in 12 AAC 70.140 with emphasis on appraisal of nonresidential properties, and a bachelor's degree or higher in any field from an accredited college or university.  
		(1) a bachelor's degree or higher from an accredited college or university; or  
		(2) 30 semester credit hours, or their equivalent, in the following collegiate level subject matter courses from an accredited college, junior college, community college, or university; if an accredited academic institution accepts the College-Level Examination Program (CLEP) examinations and issues a transcript for the examination showing its approval, the board will consider the examination as credit for the college course:  
			(A) English composition;  
			(B) microeconomics;  
			(C) macroeconomics;  
			(D) finance;  
			(E) algebra, geometry, or higher mathematics;  
			(F) statistics;  
			(G) introduction to computers, including word processing and preparation of spreadsheets;  
			(H) business or real estate law;  
			(I) accounting, geography, agricultural economics, business management, or real estate courses not listed in (B) - (F) and (H) of this paragraph; however, the board will not accept more than two elective courses under this paragraph.  
	(b)  An applicant for the Appraiser Qualification Board approved examination for certification as a general real estate appraiser shall document satisfactory completion of 300 creditable classroom hours as specified in the following core curriculum, of which at least 150 hours must be completed not later than the five years immediately preceding the date of a complete application:  
		(1) basic appraisal principles, 30 hours;  
		(2) basic appraisal procedures, 30 hours;  
		(3) the 15-hour national USPAP course or its equivalent, 15 hours;  
		(4) general appraiser market analysis and the principle of the highest and best use of the property, 30 hours;  
		(5) statistics, modeling, and finance, 15 hours;  
		(6) general appraiser sales comparison approach, 30 hours;  
		(7) general appraiser site valuation and cost approach, 30 hours;  
		(8) general appraiser income approach, 60 hours;  
		(9) general appraiser report writing and case studies, 30 hours;  
		(10) appraisal subject matter electives, 30 hours.  
	(c)  An applicant for certification as a residential real estate appraiser must document satisfactory completion of 200 creditable classroom hours of instruction that meet the requirements in 12 AAC 70.140 with emphasis on appraisal of residential properties, and a bachelor's degree or higher in any field from an accredited college or university.  
	(d)  An applicant for the Appraiser Qualification Board examination for certification as a residential real estate appraiser shall document satisfactory completion of 200 creditable classroom hours as specified in the following core curriculum, of which at least 100 hours must be completed not later than the five years immediately preceding the date of a complete application:  
		(1) basic appraisal principles, 30 hours;  
		(2) basic appraisal procedures, 30 hours;  
		(3) the 15-hour national USPAP course or its equivalent, 15 hours;  
		(4) residential market analysis and the principle of the highest and best use of the property, 15 hours;  
		(5) residential appraiser site valuation and cost approach, 15 hours;  
		(6) residential sales comparison and income approaches, 30 hours;  
		(7) residential report writing and case studies, 15 hours;  
		(8) statistics, modeling and finance, 15 hours;  
		(9) advanced residential applications and case studies, 15 hours;  
		(10) appraisal subject matter electives, 20 hours.  
	(e) In this section, "residential property" means property with  one to four residential units.  

Authorities

08.87.020;08.87.110

Notes

Reference

12 AAC 70.100
12 AAC 70.105
12 AAC 70.107
12 AAC 70.140
12 AAC 70.220

Authority

AS 08.87.020 AS 08.87.110

History

Eff. 12/13/94, Register 133; am 4/16/2004, Register 170; am 1/16/2005, Register 173; am 5/24/2007, Register 182; am 9/14/2012, Register 203; am 6/28/2015, Register 214