REA-APP7144 - National USPAP
Course Description
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.
To become a Registered Trainee, one must complete REA-APP 7201 Basic Appraisal Principles and REA-APP 7202 Basic Appraisal Procedures before enrolling in this course.
Course Outline
Method of instruction:
Lecture, Class discussion, Textbook and Exam
Course 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
Learner Outcomes
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.
Evaluation:
Students must achieve 74% or better on the Final exam and 100% attendance to receive a course completion certificate.