Idaho Administrative Code
Title IDAPA 24 - Occupational and Professional Licenses, Division of
Rule 24.18.01 - RULES OF THE REAL ESTATE APPRAISER BOARD
Section 24.18.01.004 - DEFINITIONS

01. Accredited. Accredited by the Commission on Colleges, a regional or national accreditation association, or by an accrediting agency that is recognized by the U.S. Secretary of Education.

02. Appraiser Qualifications Board. Appraiser Qualifications Board (AQB) of the Appraisal Foundation establishes the qualifications criteria for licensing, certification and recertification of appraisers.

03. Appraisal Standards Board. The Appraisal Standards Board of the Appraisal Foundation develops, publishes, interprets and amends the Uniform Standards of Professional Appraisal Practice (USPAP) on behalf of appraisers and users of appraisal services.

04. Classroom Hour. A classroom hour is defined as sixty (60) minutes with at least fifty (50) minutes of instruction.

05. Field Real Estate Appraisal Experience. Personal inspections of real property, assembly and analysis of relevant facts, and by the use of reason and the exercise of judgment, formation of objective opinions as to the market or other value of such properties or interests therein and preparation of written appraisal reports or other memoranda showing data, reasoning, and conclusion. Professional responsibility for the valuation function is essential.

06. Practical Applications of Real Estate Appraisal (PAREA). An AQB-approved training programs which provide another pathway for applicants to fulfill their experience requirements through practical experience in a virtual environment combining appraisal theory and methodology in real-world simulations. This experience can be provided through a wide range of online and virtual reality technologies.

07. Real Estate. In addition to the previous definition in Section 54-4104(12), Idaho Code, will also mean an identified parcel or tract of land, including improvements, if any.

08. Real Property. In addition to the previous definition in Section 54-4104(12), Idaho Code, will also mean one or more defined interests, benefits, or rights inherent in the ownership of real estate.

09. Residential Unit. Real estate with a current highest and best use of a residential nature. A residential unit includes a kitchen and a bathroom.