§ 5-20.7-7 - Examination requirements.
SECTION 5-20.7-7
§ 5-20.7-7 Examination requirements.– An original certification as a state certified or licensed real estateappraiser shall not be issued to any person unless that individual has achieveda passing grade upon a suitable written examination that is consistent with andequivalent to the uniform state certification or licensing examination issuedor endorsed by the appraisal qualification board of the Appraisal Foundation.The written examination shall determine that the candidate for state certifiedor licensed real estate appraiser possesses the following:
(1) Appropriate knowledge of technical terms commonly used inor related to real estate appraising, appraisal report writing, and economicconcepts applicable to real estate;
(2) Understanding of the principles of land economics, realestate appraisal processes, and of problems likely to be encountered ingathering, interpreting, and processing of data in carrying out appraisaldisciplines;
(3) Understanding the standards for development andcommunicating of real estate appraisals as provided in this chapter;
(4) Knowledge of theories of depreciation, cost estimating,methods of capitalization, and the mathematics of real estate appraisal thatare appropriate for the classification of certificate applied for;
(5) Knowledge of other principles and procedures as areappropriate for the respective classifications;
(6) Basic understanding of real estate law; and
(7) Understanding of the types of misconduct for whichdisciplinary proceedings may be initiated against a state certified or licensedreal estate appraiser, as set forth in this chapter.