APPRAISER EDUCATIONAL REQUIREMENTS Appraisal Residential Courses Appraisal General Courses APPRAISAL RESIDENTIAL COURSES The overall objective of the residential appraisal series is to arrive at an understanding of the appraiser's role and to better understand the qualifications and uniform standards of professional practice that help to ensure a reliable appraisal. The scope of this series examines fundamentals essential to the appraisal process. Included are considerations of basic value principles, data collection, site valuation, the three recognized approaches to determining value, reconciliation and methods of completion of the appraisal report. In addition to appraisal theory, included are applied practices using appraisal related math and statistics as well as opportunities for actual site visits and completion of standardized appraisal report forms. APPRAISAL GENERAL COURSES The overall objective of the general series is to arrive at an understanding of the valuation process of income producing investments, and can be further described as the appraisal of non-residential property with income producing potential. The scope of this series examines the valuation of a class of property customarily lacking adequate and ample documentation of sales, with a primary focus on the income approach to value, together with an understanding of how investors attempt to forecast income and analyze investment potential. Included in this process are the considerations of dynamic market conditions, highest and best use, area and neighborhood, site and improvements, and the effects and implications of existing leases and mortgages remaining on the property.   Effective Januray 1, 2008: Appraiser license/certification candidates must satisfy the educational requirements by completing the prescribed courses indicated for each classification as follows: Appraiser Assistant (150 Hour Minimum) Basic Appraisal Principles (R-5) Basic Appraisal Procedures (R-6) Residential Market Analysis & Highest and Best Use (R-7) Residential Site Valuation & Cost Approach (R-8) Residential Sales Comparison & Income Approach (R-9) Residential Report Writing & Case Studies (R-10) 15 Hour NUSPAP Course (NUSPAP)   Licensed Residential Appraiser (150 Hours) Basic Appraisal Principles (R-5) Basic Appraisal Procedures (R-6) Residential Market Analysis & Highest and Best Use (R-7) Residential Site Valuation & Cost Approach (R-8) Residential Sales Comparison & Income Approach (R-9) Residential Report Writing & Case Studies (R-10) 15 Hour NUSPAP Course (NUSPAP)   Certified Residential Appraiser (200 Hours) Basic Appraisal Principles (R-5) Basic Appraisal Procedures (R-6) Residential Market Analysis & Highest and Best Use (R-7) Residential Site Valuation & Cost Approach (R-8) Residential Sales Comparison & Income Approach (R-9) Residential Report Writing & Case Studies (R-10) 15 Hour NUSPAP Course (NUSPAP) Advanced Residential Applications & Case Studies (R-11) Statistics Modeling & Finance (SMF) and one Residential Elective Introduction to Residential Income Properties (RE-1) or Fair Housing/Fair Lending and Environmental Issues (RE-2) and an Associates Degree or Higher or 21 semester hours in specified topics and 2500 hours experience in no less than 24 months. Certified General Appraiser (300 Hours) Basic Appraisal Principles (R-5) Basic Appraisal Procedures (R-6) General Market Analysis & Highest and Best Use (G-4) General Sales Comparison Approach (G-5) General Site Valuation & Cost Approach (G-6) General Income Approach (G-7) General Report Writing & Case Studies (G-8) 15 Hour NUSPAP Course (NUSPAP) Statistics Modeling & Finance (SMF) and two General Electives Fair Housing/Fair Lending and Environmental Issues (GE-1) - Mandatory and Specialty Appraisals (GE-2) or Using the HP12C Financial Calculator (GE-3) and an Bachelor’s Degree or Higher or 30 semester hours in specified topics and 3000 hours in no less than 30 months.