Current through August 30, 2024
(a) An applicant
for certification as a general real estate appraiser must document satisfactory
completion of 300 creditable classroom hours or instruction that meet the
requirements in
12 AAC 70.140 with emphasis on
appraisal or nonresidential properties, and a bachelor's degree or higher in
any field from an accredited college or university.
(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:
(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, and may in chide hours over the minimum of the course topics required
under this subsection.
(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 one of the following:
(1) a bachelor's degree or higher in any
field from an accredited college or university;
(2) an associate's degree in a field of study
related to business administration, accounting, finance, economics, or real
estate;
(3) successful completion
of 30 semester hours of college level courses that cover each of the following
specific topic areas and hours;
(A) English
composition, three hours;
(B)
microeconomics, three hours;
(C)
macroeconomics, three hours;
(D)
finance three hours;
(E) algebra,
geometry, or higher mathematics, three hours;
(F) statistics, three hours;
(G) computer science, three hours;
(H) business or real estate law, three hours;
and
(I) two elective courses in any
of the topics listed in (A) TO (H) of this paragraph or in accounting,
geography, agricultural economics, business management, or real estate, three
hours each; or
(4)
successful completion of at least 30 semester hours of the College Level
Examination Program (CLEP) examination in the following specific topic areas
and hours:
(A) college algebra, three
hours;
(B) college composition, six
hours;
(C) college composition
modular, three hours;
(D) college
mathematics, six hours;
(E)
principles of macroeconomics, three hours;
(F) principles of microeconomics, three
hours;
(G) introductory business
law, three hours; and
(H)
information systems, three hours.
(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:
(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, and may include hours over the minimum of the course topics required
under this subsection.
(e) In this section, "residential property"
means property with one to four residential units.
(f) An applicant for approval as a trainee
appraiser must document satisfactory completion of 75 creditable classroom
hours as specified in the following core curriculum:
(1) basic appraisal principles, 30
hours;
(2) basic appraisal
procedures, 30 hours;
(3) the
15-hour national USPAP course or its equivalent, 15 hours.
Authority:AS
08.87.020
AS
08.87.110
