| (2) |
The curriculum of courses approved under
this Rule should include at a minimum the following:
| (a) |
for courses approved to meet the
education requirement for a State Trainee or State Registered real property
appraiser:
| 1. |
30 hours in Basic Appraisal
Principles covering topics such as real property concepts and characteristics,
legal considerations, influences on real estate values, types of value,
economic principles, an overview of real estate markets and analysis, the
provisions of the Appraisal Act and its Rules and Regulations, and ethics and
how they apply in appraisal theory and practice; |
| 2. |
30 hours in Basic Appraisal Procedures
covering topics such as the provisions of Georgia's Residential Mortgage Fraud
law and methods for identifying possible fraud in transactions and properly
reporting alleged fraud, an overview of approaches to value, valuation
procedures, property description, and residential applications; |
| 3. |
15 hours in Residential Report Writing and
Case Studies covering topics such as writing and reasoning skills, common
writing problems, form reports, report options, USPAP compliance, and case
studies or 15 hours in General Appraisal Report Writing and Case Studies
covering topics such as writing and reasoning skills, common writing problems,
and report options; |
| 4. |
the current
version of the 15-Hour National (USPAP) course (or its AQB-approved
equivalent); |
| 5. |
such other subject
matter as the Board may require or approve. |
|
| (b) |
for courses approved to meet the
education requirement for state licensed real property appraiser:
| 1. |
30 hours in Basic Appraisal Principles
covering topics such as real property concepts and characteristics, legal
considerations, influences on real estate values, types of value, economic
principles, an overview of real estate markets and analysis, the provisions of
the Appraisal Act and its Rules and Regulations, and ethics and how they apply
in appraisal theory and practice; |
| 2. |
30 hours in Basic Appraisal Procedures
covering topics such as the provisions of Georgia's Residential Mortgage Fraud
law and methods for identifying possible fraud in transactions and properly
reporting alleged fraud, an overview of approaches to value, valuation
procedures, property description, and residential applications; |
| 3. |
15 hours in Residential Market Analysis
And Highest And Best Use covering topics such as market fundamentals and
characteristics, supply analysis, demand analysis, use of market analysis, and
the application of highest and best use; |
| 4. |
15 hours in Residential Appraisal Site
Valuation And Cost Approach covering topics such as site valuation methods,
cost approach concepts and definitions, replacement/reproduction cost new, and
methods of estimating accrued depreciation; |
| 5. |
30 hours in Residential Sales Comparison
And Income Approaches covering topics such as sales comparison valuation
principles & procedures, income valuation principles & procedures,
finance and cash equivalency, financial calculators, derivation and measurement
of adjustments, gross rent multipliers, partial interests, and
reconciliation; |
| 6. |
15 hours in
Residential Report Writing and Case Studies covering topics such as writing and
reasoning skills, common writing problems, form reports, report options, USPAP
compliance, and case studies; |
| 7. |
15
hours in the Uniform Standards of Professional Appraisal Practice (USPAP);
(NOTE: If an applicant plans to use this course for a certified
classification, the appraisal Subcommittee of the federal government contends
that federal law requires that the course be one not subject to the Board's
review and approval. Instead, it must be one the Appraisal Qualifications Board
of The Appraisal Foundation has identified by the name "15-hour National USPAP
Course, or its equivalent." The Appraisal Foundation, the private entity that
mandates the use of that course, seeks to generate profits from it.
That course and its equivalent courses were developed under
criteria unknown to the Board. The phrase "its equivalent" apparently means
only a course that The Appraisal
Foundation says is "equivalent" to its course. Appraisers may
not receive credit for the "15-hour National USPAP Course, or its equivalent"
unless (a) the school offers the appraisal Foundation's course on USPAP and
pays The Appraisal Foundation special fees for the number of students enrolled
in its course, (b) secures the permission of an entity that has achieved The
Appraisal Foundation's "equivalent" status to offer its course, or (c) secures
The Appraisal Foundation's "equivalent" status for a course the school
develops. Regardless of which of the three types of USPAP course that a school
uses, every student it enrolls must receive a copy of Uniform Standards of
Professional Appraisal Practice for which The Appraisal Foundation has received
payment or a royalty. Regardless of the educational quality of the course, a
course on USPAP developed by Board approved schools may not replace the
"15-hour National USPAP Course, or its equivalent" unless the school obtains
The Appraisal Foundation's equivalency authorization and pays The Appraisal
Foundation any fees it may require for
| (b) |
offering the course or materials to
students; and |
|
| 8. |
such
other subject matter as the Board may require or approve. |
|
| (c) |
for courses approved to meet the
education requirement for state certified residential real property appraiser:
| 1. |
30 hours in Basic Appraisal Principles
covering topics such as real property concepts and characteristics, legal
considerations, influences on real estate values, types of value, economic
principles, an overview of real estate markets and analysis, the provisions of
the Appraisal Act and its Rules and Regulations, and ethics and how they apply
in appraisal theory and practice; |
| 2. |
30 hours in Basic Appraisal Procedures
covering topics such as the provisions of Georgia's Residential Mortgage Fraud
law and methods for identifying possible fraud in transactions and properly
reporting alleged fraud, an overview of approaches to value, valuation
procedures, property description, and residential applications; |
| 3. |
15 hours in Residential Market Analysis
And Highest And Best Use covering topics such as market fundamentals and
characteristics, supply analysis, demand analysis, use of market analysis, and
the application of highest and best use; |
| 4. |
15 hours in Residential Appraisal Site
Valuation And Cost Approach covering topics such as site valuation methods,
cost approach concepts and definitions, replacement/reproduction cost new, and
methods of estimating accrued depreciation; |
| 5. |
30 hours in Residential Sales Comparison
And Income Approaches covering topics such as sales comparison valuation
principles & procedures, income valuation principles & procedures,
finance and cash equivalency, financial calculators, derivation and measurement
of adjustments, gross rent multipliers, partial interests, and
reconciliation; |
| 6. |
15 hours in
Residential Report Writing and Case Studies covering topics such as writing and
reasoning skills, common writing problems, form reports, report options and
USPAP compliance, and case studies; |
| 7. |
15 hours in Statistics, Modeling And
Finance covering topics such as statistics, valuation, models, and real estate
finance; |
| 8. |
15 hours in Advanced
Residential Applications And Case Studies covering topics such as complex
property, ownership and market conditions, deriving and supporting adjustments,
residential market analysis, and advanced case studies; |
| 9. |
20 hours of additional courses in
appraisal subject matter; |
| 10. |
15
hours in the Uniform Standards of Professional Appraisal Practice (USPAP);
(NOTE: If an applicant plans to use this course for a certified
classification, the appraisal Subcommittee of the federal government contends
that federal law requires that the course be one not subject to the Board's
review and approval. Instead, it must be one the Appraisal Qualifications Board
of The Appraisal Foundation has identified by the name "15-hour National USPAP
Course, or its equivalent." The Appraisal Foundation, the private entity that
mandates the use of that course, seeks to generate profits from it.
That course and its equivalent courses were developed under
criteria unknown to the Board. The phrase "its equivalent" apparently means
only a course that The Appraisal Foundation says is "equivalent" to its course.
Appraisers may not receive credit for the "15-hour National USPAP Course, or
its equivalent" unless (a) the school offers the appraisal Foundation's course
on USPAP and pays The Appraisal Foundation special fees for the number of
students enrolled in its course, (b) secures the permission of an entity that
has achieved The Appraisal Foundation's "equivalent" status to offer its
course, or (c) secures The Appraisal Foundation's "equivalent" status for a
course the school develops. Regardless of which of the three types of USPAP
course that a school uses, every student it enrolls must receive a copy of
Uniform Standards of Professional Appraisal Practice for which The Appraisal
Foundation has received payment or a royalty. Regardless of the educational
quality of the course, a course on USPAP developed by Board approved schools
may not replace the "15-hour National USPAP Course, or its equivalent" unless
the school obtains The Appraisal Foundation's equivalency authorization and
pays The Appraisal Foundation any fees it may require for
| (b) |
offering the course or materials to
students; and 11. such other subject matter as the Board may require or
approve. |
|
|
| (d) |
for courses approved to meet the education requirement for state certified
general real property appraiser:
| 1. |
30 hours
in Basic Appraisal Principles covering topics such as real property concepts
and characteristics, legal considerations, influences on real estate values,
types of value, economic principles, an overview of real estate markets and
analysis, the provisions of the Appraisal Act and its Rules and Regulations,
and ethics and how they apply in appraisal theory and practice; |
| 2. |
30 hours in Basic Appraisal Procedures
covering topics such as the provisions of Georgia's Residential Mortgage Fraud
law and methods for identifying possible fraud in transactions and properly
reporting alleged fraud, an overview of approaches to value, valuation
procedures, property description, and residential applications; |
| 3. |
30 hours in General Appraisal Market
Analysis And Highest And Best Use covering topics such as market fundamentals
and characteristics, supply analysis, demand analysis, use of market analysis,
and the application of highest and best use; |
| 4. |
30 hours in General Appraisal Site
Valuation And Cost Approach covering topics such as site valuation methods,
cost approach concepts and definitions, replacement/reproduction cost new, and
methods of estimating accrued depreciation; |
| 5. |
30 hours in General Appraisal Sales
Comparison Approach covering topics such as sales comparison valuation
principles & procedures, derivation and measurement of adjustments, and
reconciliation; |
| 6. |
60 hours in
General Appraisal Income Approach covering topics such as compound interest,
lease analysis, income analysis, vacancy and collection loss, estimating
operating expenses and reserves, reconstructed income and expense statement,
stabilized net operating income estimate, direct capitalization, discounted
cash flow, yield capitalization, and partial interests; |
| 7. |
30 hours in General Appraisal Report
Writing and Case Studies covering topics such as writing and reasoning skills,
common writing problems, and report options; |
| 8. |
15 hours in Statistics, Modeling And
Finance statistics, valuation, and models; |
| 9. |
30 hours of additional courses in
appraisal subject matter; |
| 10. |
15
hours in the Uniform Standards of Professional Appraisal Practice (USPAP);
(NOTE: If an applicant plans to use this course for a certified
classification, the appraisal Subcommittee of the federal government contends
that federal law requires that the course be one not subject to the Board's
review and approval. Instead, it must be one the Appraisal Qualifications Board
of The Appraisal Foundation has identified by the name "15-hour National USPAP
Course, or its equivalent." The Appraisal Foundation, the private entity that
mandates the use of that course, seeks to generate profits from it.
That course and its equivalent courses were developed under
criteria unknown to the Board. The phrase "its equivalent" apparently means
only a course that The Appraisal Foundation says is "equivalent" to its course.
Appraisers may not receive credit for the "15-hour National USPAP Course, or
its equivalent" unless (a) the school offers the appraisal Foundation's course
on USPAP and pays The Appraisal Foundation special fees for the number of
students enrolled in its course, (b) secures the permission of an entity that
has achieved The Appraisal Foundation's "equivalent" status to offer its
course, or (c) secures The Appraisal Foundation's "equivalent" status for a
course the school develops. Regardless of which of the three types of USPAP
course that a school uses, every student it enrolls must receive a copy of
Uniform Standards of Professional
Appraisal Practice for which The Appraisal Foundation has
received payment or a royalty. Regardless of the educational quality of the
course, a course on USPAP develope d by Board approved schools may not replace
the "15-hour National USPAP Course, or its equivalent" unless the school
obtains The Appraisal Foundation's equivalency authorization and pays The
Appraisal Foundation any fees it may require for
| (b) |
offering the course or materials to
students; and 11. such other subject matter as the Board may require or
approve. |
|
|
|
