Oregon Administrative Rules
Chapter 161 - APPRAISER CERTIFICATION AND LICENSURE BOARD
Division 10 - LICENSURE AND CERTIFICATION AND ENDORSEMENT REQUIREMENTS
Section 161-010-0045 - Prerequisite Experience and Education Requirements for State Certified Residential Appraisers

Universal Citation: OR Admin Rules 161-010-0045

Current through Register Vol. 63, No. 9, September 1, 2024

(1) As a prerequisite to taking the examination for certification as a State Certified Residential Appraiser, an applicant shall present evidence satisfactory to the Administrator that the applicant has complied with the Appraiser Qualification Board minimum standards:

(a) Bachelor's Degree in any field of study; or

(b) Associate's Degree in a field of study related to:
(A) Business Administration

(B) Accounting

(C) Finance

(D) Economics

(E) Real Estate; or

(c) Successful completion of at least 30 semester hours of college-level courses in each of the following:
(A) English Composition (3 hours)

(B) Microeconomics (3 hours)

(C) Macroeconomics (3 hours)

(D) Finance (3 hours)

(E) Algebra, Geometry or Higher Math (3 hours)

(F) Statistics (3 hours)

(G) Computer Science (3 hours)

(H) Business Law or Real Estate Law (3 hours)

(I) Two elective courses in any of the above topics, or in Accounting, Geography, Agricultural Economics, Business Management, or Real Estate (3 hours each); or

(d) Successful completion of at least 30 semester hours of College Level Examination Program (CLEP) exams equivalent to a minimum of 30 semester credit hours in (c) above; or

(e) Any combination of paragraphs (c) and (d) above that includes all of the topics identified; or

(f) No college-level education required, but must be an appraiser who has held an "active" State Licensed Appraiser credential for a minimum of five (5) years and has no record of any adverse, final, and non-appealable disciplinary action affecting the State Licensed Appraiser's legal eligibility to engage in appraisal practice within five (5) years immediately preceding the date of application for a Certified Residential Appraiser credential.

(2) At least 1,500 cumulative hours of acceptable appraisal experience. Cumulative experience hours must be acquired in no fewer than twelve (12) months.

(a) Applicants whose current State Licensed Appraiser credential was issued by the Board, and not by another state licensing agency, are only required to submit an experience log that documents completion of an additional 500 hours of appraisal experience.

(b) Applicants who hold an active Oregon State Licensed Appraiser credential through reciprocity in accordance with OAR 161-015-0015 and have held an active State Licensed Appraiser credential for a minimum of five (5) years and have no record of any adverse, final, and non-appealable disciplinary action affecting the State Licensed Appraiser's legal eligibility to engage in appraisal practice within five (5) years immediately preceding the date of application for a Certified Residential Appraiser credential, are only required to submit an experience log that documents completion of an additional 500 hours of appraisal experience. Additionally, the applicant must provide evidence to the Board, from the State issuing the applicant's initial credential, documenting that the initial credential was approved and issued to the applicant based upon an experience log rather than an experience-related affidavit.

(3) Successfully completed not less than 200 class hours of acceptable appraisal courses as set forth in OAR 161-020-0110(2)(c), with the following exceptions as noted in paragraphs (3)(a) or (3)(b) below. Each applicant shall have successfully completed the 15-hour National USPAP Course, or its equivalent, within four (4) years preceding the date of application and have successfully passed an examination thereon.

(a) Applicants holding a valid Oregon Appraiser Assistant registration may satisfy the educational requirements for the State Certified Residential Appraiser credential by completing the following additional education hours:
(A) Course(s) on Residential Market Analysis and Highest and Best Use (15 hours);

(B) Course(s) on Residential Appraiser Site Valuation and Cost Approach (15 hours);

(C) Course(s) on Residential Sales Comparison and Income Approaches (30 hours in no less than 15 hour increments);

(D) Course(s) on Residential Report Writing and Case Studies (15 hours);

(E) Course(s) on Statistics, Modeling and Finance (15 hours);

(F) Course(s) on Advanced Residential Applications and Case Studies (15 hours); and

(G) Appraisal Subject Matter Electives (20 hours).

(b) Applicants holding a valid Oregon State Licensed Appraiser credential may satisfy the educational requirements for the State Certified Residential Appraiser credential by completing the following additional education hours:
(A) Course(s) on Statistics, Modeling and Finance (15 hours);

(B) Course(s) on Advanced Residential Applications and Case Studies (15 hours); and

(C) Appraisal Subject Matter Electives (20 hours).

Statutory/Other Authority: ORS 674.305 & 674.310

Statutes/Other Implemented: ORS 674

Disclaimer: These regulations may not be the most recent version. Oregon may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.