.03 Required Courses.

A. Effective January 1, 2008, in order to meet the 150-hour requirement set forth in Regulation .01 of this chapter, an applicant shall, at a minimum, have completed the required Appraiser Qualifications Board core curriculum for the licensed education requirements, as follows:

(1) Basic appraisal principles — 30 hours;

(2) Basic appraisal procedures — 30 hours;

(3) The 15-hour national Uniform Standards of Professional Appraisal Practice course or its equivalent — 15 hours;

(4) Residential market analysis and highest and best use — 15 hours;

(5) Residential appraiser site valuation and cost approach — 15 hours;

(6) Residential sales comparison and income approaches — 30 hours; and

(7) Residential report writing and case studies — 15 hours.

B. Effective January 1, 2008, in order to meet the 200-hour requirement set forth in Regulation .01 of this chapter, an applicant shall, at a minimum, have completed the required Appraiser Qualifications Board core curriculum for the certified residential education requirements, as follows:

(1) Basic appraisal principles — 30 hours;

(2) Basic appraisal procedures — 30 hours;

(3) The 15-hour national Uniform Standards of Professional Appraisal Practice course or its equivalent — 15 hours;

(4) Residential market analysis and highest and best use — 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; and

(10) Appraisal subject matter electives — 20 hours.

C. Effective January 1, 2008, in order to meet the 300-hour requirement set forth in Regulation .01 of this chapter, an applicant shall, at a minimum, have completed the required Appraiser Qualifications Board core curriculum for the certified general education requirements, as follows:

(1) Basic appraisal principles — 30 hours;

(2) Basic appraisal procedures — 30 hours;

(3) The 15-hour national Uniform Standards of Professional Appraisal Practice course or its equivalent — 15 hours;

(4) General appraiser market analysis and highest and best use — 30 hours;

(5) Statistics, modeling and finance — 15 hours;

(6) General appraiser site 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; and

(10) Appraisal subject matter electives — 30 hours.

D. Effective January 1, 2015, in order to meet the 75-hour requirement and the Trainee Appraiser Expectation and Responsibilities Course set forth in Regulation .01D of this chapter, an applicant shall, at a minimum, have completed the required Appraiser Qualifications Board core curriculum for the trainee education requirements, as follows:

(1) Basic appraisal principles — 30 hours;

(2) Basic appraisal procedures — 30 hours;

(3) The 15-hour national Uniform Standards of Professional Appraisal Practice course or its equivalent — 15 hours; and

(4) Trainee appraiser and responsibilities course.

E. Continuing education credit may be granted for educational offerings that:

(1) Are consistent with the purpose of ensuring that appraisers participate in a program that maintains and increases their skill, knowledge, and competency in real property appraising; and

(2) Cover real property related appraisal topics, including, but not limited to:

(a) Ad valorem taxation;

(b) Arbitration and dispute resolution;

(c) Courses related to the practice of real estate appraisal or consulting;

(d) Development cost estimating;

(e) Ethics and standards of professional practice under the Uniform Standards of Professional Appraisal Practice;

(f) Land use planning and zoning;

(g) Management, leasing, and timesharing;

(h) Property development and partial interests;

(i) Real estate law, easements, and legal interests;

(j) Real estate litigation, damages, and condemnation;

(k) Real estate financing and investment;

(l) Real estate appraisal related computer applications;

(m) Real estate securities and syndication;

(n) Developing opinions of real property value in appraisal that also include personal property and/or business value;

(o) Seller concessions and impact on value; and

(p) Energy efficient items and “green building” appraisals.

F. Requirement for Appraisal Standards of Conduct and Ethics.

(1) Effective January 1, 2003, individuals seeking to meet the educational requirement under this regulation shall successfully complete the 15-hour national Uniform Standards of Professional Appraisal Practice (USPAP) course or its equivalent for qualifying education, as determined by the Appraiser Qualifications Board (AQB) of the Appraisal Foundation.

(2) The course shall be taken from an instructor who is:

(a) An AQB certified USPAP instructor; and

(b) A State certified residential appraiser or State certified general appraiser.