OAR 161-010-0045
Prerequisite Experience and Education Requirements for State Certified Residential Appraisers
(1)
As a prerequisite to taking the examination for certification as a State Certified Residential Appraiser, an applicant shall present evidence satisfactory to the Administrator that the applicant has complied with the Appraiser Qualification Board minimum standards:(2)
At least 2,000 cumulative hours of acceptable appraisal experience. “Cumulative” is defined as meaning that experience may be acquired in no fewer than eighteen (18) months.(a)
Applicants whose initial State Licensed Appraiser credential was issued by the Board, and not by another state licensing agency, are only required to submit an experience log that documents completion of an additional 500 hours of appraisal experience.(b)
Applicants who hold an active Oregon State Licensed Appraiser credential through reciprocity in accordance with OAR 161-015-0015 (Reciprocity) and have held an active State Licensed Appraiser credential for a minimum of five (5) years and have no record of any adverse, final, and non-appealable disciplinary action affecting the State Licensed Appraiser’s legal eligibility to engage in appraisal practice within five (5) years immediately preceding the date of application for a Certified Residential Appraiser credential, are only required to submit an experience log that documents completion of an additional 500 hours of appraisal experience. Additionally, the applicant must provide evidence to the Board, from the State issuing the applicant’s initial credential, documenting that the initial credential was approved and issued to the applicant based upon an experience log rather than an experience-related affidavit.(3)
Successfully completed not less than 200 class hours of acceptable appraisal courses as set forth in OAR 161-020-0110 (Qualifying Education Course Content Guidelines)(2), with the following exceptions as noted in paragraphs (3)(a) or (3)(b) below. Each applicant shall have successfully completed the 15-hour Appraisal Foundation’s National USPAP Course, or its equivalent, within four (4) years preceding the date of application and have successfully passed an examination thereon.(a)
Applicants holding a valid Oregon Appraiser Assistant registration may satisfy the educational requirements for the State Certified Residential Appraiser credential by completing the following additional education hours:(A)
Course(s) on Residential Market Analysis and Highest and Best Use (15 hours);(B)
Course(s) on Residential Appraiser Site Valuation and Cost Approach (15 hours);(C)
Course(s) on Residential Sales Comparison and Income Approaches (30 hours in no less than 15 hour increments);(D)
Course(s) on Residential Report Writing and Case Studies (15 hours);(E)
Course(s) on Statistics, Modeling and Finance (15 hours);(F)
Course(s) on Advanced Residential Applications and Case Studies (15 hours); and(G)
Electives (20 hours).(b)
Applicants holding a valid Oregon State Licensed Appraiser credential may satisfy the educational requirements for the State Certified Residential Appraiser credential by completing the following additional education hours:(A)
Course(s) on Statistics, Modeling and Finance (15 hours);(B)
Course(s) on Advanced Residential Applications and Case Studies (15 hours); and(C)
Electives (20 hours).
Source:
Rule 161-010-0045 — Prerequisite Experience and Education Requirements for State Certified Residential Appraisers, https://secure.sos.state.or.us/oard/view.action?ruleNumber=161-010-0045.