Chapter 3 Qualifications for Appraisal Credentials Flashcards
The requirements established by the AQB Real Property Appraiser Qualification Criteria can be placed in three general categories:
Education
Experience
Examination
Significant revisions to the Criteria went into effect on
January 1, 2015
Prior to the 2015 revisions, the most recent revisions to the Criteria went into effect on
January 1, 2008.
The AQB also made revisions to the Criteria effective when? These revisions primarily addressed college-level education requirements and experience requirements.
May 1, 2018
The material in this course is based on the
2018 revisions
Before applying for a Trainee Appraiser credential, an applicant must have completed how many hours of credible qualifying education?
75 hours
Basic Appraisal Principles (30 hours)
Basic Appraisal Procedures (30 hours)
15-Hour National USPAP Course or AQB-approved equivalent (15 hours)
Please note that some states ____ require a Trainee Appraiser applicant to pass an exam; however this is not an AQB requirement.
do
The Licensed Residential Real Property Appraiser classification applies to the appraisal of
non-complex one-to-four residential units having a transaction value less than $1,000,000 and complex one-to-four residential units having a transaction value less than $250,000.”
Licensed Residential Appraiser credential are required to obtain how many creditable hours of qualifying education
150 hours
Basic Appraisal Principles (30 hours)
Basic Appraisal Procedures (30 hours)
15-Hour National USPAP Course or AQB approved equivalent (15 hours)
Residential Market Analysis and Highest and Best Use (15 hours)
Residential Appraiser Site Valuation and Cost Approach (15 hours)
Residential Sales Comparison and Income Approaches (30 hours)
Residential Report Writing and Case Studies (15 hours)
Applicants for a Licensed Residential Appraiser credential must obtain how many hours of appraisal experience in no fewer than 6 months.
1,000
This appraiser classification qualifies the appraiser to appraise one-to-four residential units without regard to value or complexity.”
The Certified Residential Real Property Appraiser
Applicants for a Certified Residential Appraiser credential are required to obtain how many creditable hours of qualifying education
200
Applicants who hold a valid Trainee Appraiser credential may satisfy the appraisal education requirement by completing an additional how many hours of coursework,
125
Applicants who hold a valid Licensed Residential Real Property Appraiser credential may satisfy the appraisal education requirement by completing an additional how many hours
50
Applicants for a Certified Residential Appraiser credential are also required to hold a
bachelor’s degree
An applicant for a Certified Residential Appraiser credential must obtain _______ hours of appraisal experience during no fewer than __ months.
1500, 12
Applicants for a Certified General Appraiser credential are required to obtain how many creditable hours of qualifying education
300
An applicant who holds a valid Trainee Appraiser credential may satisfy the education requirements for a Certified General Appraiser credential by obtaining how many hours of additional education
225
An applicant who holds a valid Licensed Real Property Appraiser credential may satisfy the education requirements for a Certified General Appraiser credential by completing how many hours of additional education
150
An applicant who holds a valid Certified Residential Appraiser credential may satisfy the education requirements for the Certified General Appraiser credential by completing how many hours of additional education
100
Applicants for a Certified General Appraiser credential are also required to hold a
bachelor’s degree
An applicant for a Certified General Appraiser credential must obtain ______ hours of experience during no fewer than ___ months. At least ______ of the 3,000 experience hours must be in non-residential appraisal work (i.e., properties that are not one-to-four family residential properties).
3,000; 18; 1500
Qualifying education hours for a course may be obtained only if:
The minimum length of the educational offering is at least 15 hours; and
The individual successfully completes a proctored, closed-book final examination pertinent to the course.
One of the changes from the 2008 AQB Criteria to the 2015 Criteria was a requirement for formal
criminal background checks for applicants for appraisal credentials.
In order to perform as a supervisory appraiser, an individual must have been state-certified for a minimum of
3 years
To obtain a Licensed Residential Appraiser credential, an applicant must obtain \_\_\_\_\_\_ creditable hours of appraisal education, according to the AQB Criteria. 120 150 200 2,000
150
An applicant for a Certified Residential Appraiser credential must have completed how many hours of appraisal education? 75 120 150 200
200
According to the AQB Criteria, an applicant for a Licensed Residential Appraiser credential must obtain \_\_\_\_\_\_\_ experience hours in no fewer than \_\_\_\_\_\_\_ months. 1,000; 6 1,000; 12 1,500; 12 2,000; 24
1,000 ; 6
Which type of appraisal credential allows an appraiser to appraise all types of real property?
Licensed Residential Appraiser
Certified Residential Appraiser
Certified General Appraiser
Both Certified Residential Appraiser and Certified General Appraiser
Certified General Appraiser
Appraiser Marie holds a valid Licensed Residential Appraiser Credential, and she wants to upgrade to a Certified Residential Appraiser credential. How many additional hours of appraisal education does she need, according to the AQB? 50 75 100 125
50
