Section 12 AAC 70.990 - DefinitionsIn this chapter and in AS 08.87
(1) "appraisal experience" includes fee and staff appraisals, ad valorem tax appraisals, appraisal reviews, appraisal analysis, real estate counseling, and feasibility analysis and study, all of which must have been performed in accordance with the Uniform Standards of Professional Appraisal Practices described in 12 AAC 70.900;(2) "board" means the Board of Certified Real Estate Appraisers;(3) "certified real estate appraiser" means a real estate appraiser who is certified in Alaska under AS 08.87; it does not include persons certified by another licensing jurisdiction or organization;(4) "department" means the Department of Commerce, Community, and Economic Development;(5) "holds out as a certified real estate appraiser in any way" includes anyone who performs appraisal services on real estate located in Alaska;(6) "transaction value" means the amount of the federally-related transaction and is not necessarily the value of the property being appraised;(7) "institutional real estate appraiser" means a real estate appraiser employed full time by a financial institution with an office in the state subject to the limitations set out in AS 08.87.110(e) - (g);(8) "complete application" means an application that includes all documentation and fees required for certification in this chapter;(9) "distance education" means an educational process where a geographical separation exists between the provider and student;(10) "CLEP" means the College-Level Examination Program;(11) "USPAP" means the Uniform Standards of Professional Appraisal Practice, developed by the Appraisal Foundation;(12) "covered transactions" means any consumer credit transaction secured by the consumer's principal dwelling.(13) "classroom" means a traditional classroom or a synchronous or asynchronous online course.(14) "asynchronous" (A) means non-real-time transmission of instruction, classwork, and discussion between an instructor and a student;(B) does not include digital versatile discs (DVDs) or other physical media, except as provided by an instructor as part of course material;(15) "synchronous" means instruction, classwork, and discussion between an instructor and a student is able to occur in real-time.Eff. 7/16/92, Register 123; am 4/15/94, Register 130; am 12/13/94, Register 133; am 6/5/98, Register 146; am 5/24/2007, Register 182; am 9/14/2012, Register 203; am 3/28/2019, Register 229, April 2019; am 4/8/2021, Register 238, July 2021; am 3/5/2023, Register 245, April 2023