NAC645C.235. Licensure as residential appraiser: Required instruction.

     1. A course of instruction for an applicant for a license as a residential appraiser must:

     (a) Consist of at least the following:

          (1) Thirty hours of instruction on basic appraisal principles;

          (2) Thirty hours of instruction on basic appraisal procedures;

          (3) Fifteen hours of instruction in the National USPAP Course;

          (4) Fifteen hours of instruction on residential market analysis and analysis of the highest and best use of real estate;

          (5) Fifteen hours of instruction on valuation of a site and cost approach for a residential appraiser;

          (6) Thirty hours of instruction on residential sales comparison and income approaches;

          (7) Fifteen hours of instruction on residential report writing and case studies; and

          (8) Three hours of instruction on the laws of this State governing appraisals.

     (b) Except as otherwise provided in subsection 2, be completed within the 5 years immediately preceding the submission of an application for a license.

     2. The Division may allow credit for a course of instruction set forth in subsection 1 that is completed more than 5 years before the submission of an application for a license as a residential appraiser if the course is successfully completed at an accredited college or university.

     (Added to NAC by Comm’n of Appraisers of Real Estate, eff. 1-26-90; A 11-19-91; R036-00, 5-4-2000; R100-03, 1-30-2004; R158-05, 9-18-2006, eff. 1-1-2008; R196-08, 2-11-2009)