Section 12 AAC 70.115 - Education requirements for real estate appraiser certification(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;(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.Eff. 12/13/94, Register 133; am 4/16/2004, Register 170; am 1/16/2005, Register 173; am 5/24/2007, Register 182; am 9/14/2012, Register 203; am 6/28/2015, Register 214, July 2015; am 12/28/2018,Register 228, January 2019; am 3/28/2019,Register 229, April 2019Authority:AS 08.87.020
AS 08.87.110