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APP7144

Course
APP7144
Course Title
The Uniform Standards of Professional Appraisal Practice (USPAP)

Description

This National Uniform Standards of Professional Appraisal Practice (USPAP) course fulfills the 15-hour requirement as established by the Appraiser Qualification Board (AQB) and The Appraisal Foundation. Those seeking to become a Registered Trainee must complete APP 7201 and APP 7202 prior to taking this course.

Objectives

  • Acquire knowledge of the basic practices and tools for real estate appraisal
  • Prepare for the NC state Residential Appraiser licensing exam conducted by the NC Appraisal Board

Content

A.  Orientation - Introduction The Real Estate Industry

  • Explanation of course
  • Explanation of student manual and additional materials
  • Explanation of course procedures
  • Ground Rules
  • Questions

B.  History, Professionalism, Valuation Services and Appraisal Practice and the Preamble and Structure of the Uniform Standards of Professional Appraisal Practice (USPAP). Responsibilities of Agents and Assistants.

C.  USPAP Definitions and Rules

D.  USPAP Standard 1 - Real Property Appraisal, Development

                 Standard 2 - Real Property Appraisal, Reporting

E.  USPAP Standard 3 - Appraisal Review, Development and Reporting

F.  USPAP Standard 4 and 5 - Real Property/Real Estate Appraisal Consulting, Development and Reporting

G.  USPAP Standard 6 - Mass Appraisal, Development and Reporting

H.  USPAP Standard 7 and 8 - Personal Property Appraisal, Development and Reporting

I.  USPAP Standard 9 and 10 - Business Appraisal, Development and Reporting

J.  USPAP Standard USPAP - Statements on Appraisal Standards and Advisory Opinions

K.  USPAP - Course Review

  • Exam

 

Method of Instruction

  • Lecture, Class discussion, Textbook and Exam

Evaluation

  • Students must achieve 90% or better on the Final exam and 90% attendance to receive a course completion certificate.