Guam § 30108 - Guam Licensed Appraiser: Classification: Qualification

§ 30108. Guam Licensed Appraiser: Classification: Qualification

Criteria.

The Guam Licensed Appraiser classification authorizes the appraisal of

single, duplex, triplex and quadruplex residential units, or unimproved land

with highest and best use with single, duplex, triplex and quadruplex

residential units, with a transaction value of One Million Dollars

($1,000,000) or less unless the highest and best use requires a State-certified

appraiser. Applicants must meet the following examination, education, and

experience requirements. Subsequent to being certified, individuals must

meet the continuing education requirement:

(a) Examination. Successful completion of the Appraiser

Qualification Board (AQB) of the Appraisal Foundation's endorsed

Uniform Certification Examination or its equivalent.

(b) Education.

(1) Prerequisites to the examination: A minimum of ninety

(90) classroom hours of courses in subjects related to real estate

appraisal, which shall include fifteen (15) hours of the National

Uniform Standards of Professional Appraisal Practice Course or

its equivalent. Equivalency shall be determined through the AQB

Course Approval Program or by an alternate method established

by the AQB. Uniform Standards of Professional Appraisal

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Practice qualifying education credit shall only be awarded when

the class is instructed by AQB Certified Instructors, one of whom

must be a State Certified Residential or Certified General

Appraiser.

(2) Credit toward the classroom hour requirement may only

be granted where the length of the educational offering is at least

fifteen (15) hours, and the individual successfully completes an

examination pertinent to that educational offering.

(3) Credit for the classroom hour requirement may be

obtained from the following:

(A) Colleges or universities;

(B) Community or junior colleges;

(C) Real estate appraisal or real estate-related organiza-

tions;

(D) State or Federal agencies of commissions; and

(E) Proprietary schools.

(4) A distance education course may be acceptable to meet

the classroom hour requirement, or its equivalent. For qualifying

education, distance education is defined as any educational

process based on the geographical separation of the learner and

instructor and includes testing. Distance education courses must

be approved by the Director and meet one (1) of the following

conditions:

(A) The course is presented by an accredited

(Commission on Colleges or a regional accreditation

association) college or university that offers distance

education programs in other disciplines; and

(i) The learner successfully completes a written

examination proctored by an official approved by the

college or university; and

(ii) The course meets the requirements for

qualifying education established by the Appraiser

Qualifications Board and is equivalent to the minimum

of fifteen (15) classroom hours;

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(B) The course has received approval for college credit

by the American Council on Education through its

ACE/Credit Program, or has been approved under the AQB

Course approval Program; and

(i) The learner successfully completes a written

examination proctored by an official approved by the

presenting entity; and

(ii) The course meets the requirements for

qualifying education established by the Appraiser

Qualifications Board and is equivalent to the minimum

of fifteen (15) classroom hours.

(5) Credit toward the classroom hour requirement may be

awarded to the teachers of the appraisal courses.

(6) Various appraisal courses may be credited toward the

minimum ninety (90) classroom hour education requirement.

Applicants must demonstrate that their education involved

coverage of all topics listed below in Subsection (c)(2) with

particular emphasis on the appraisal of single, duplex, triplex and

quadruplex unit residential properties.

(c) Experience. A minimum of two thousand (2,000) hours of

appraisal experience is required. If requested, experience

documentation in the form of reports or file memoranda should be

available to support the claim for experience.

(1) Hours may be treated as cumulative in order to achieve

the necessary two thousand (2,000) hours of appraisal experience;

(2) Acceptable appraisal experience as set forth by the

Director; and

(3) The verification for experience credit claimed by an

applicant shall be an affidavit in the form prescribed by the

Director.

(d) Continuing Education. (1) A minimum of fourteen (14)

classroom hours of instruction in courses or seminars for each year

during the period preceding the renewal is required. (For example, a

two (2) year certification term would require twenty-eight (28) hours.

These hours may be obtained any time during the two (2) year term.);

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(2) Credit toward the classroom hour requirement may be

granted only where the length of the educa ntional offering is at

least two (2) hours;

(3) Credit for the classroom hour requirement may be

obtained from the following:

(A) Colleges or universities;

(B) Community or junior colleges;

(C) Real estate appraisal or real estate-related organiza-

tions;

(D) Territorial, state or Federal agencies or

commissions;

(E) Proprietary schools; and

(F) Other providers approved by the Director.

(4) Beginning January 1, 2005, applicants for renewal must

demonstrate successful completion of the seven (7) hour National

Uniform Standards of Professional Practice Update Course or its

equivalent. At a minimum, this course is to be repeated once

every two (2) years. Equivalency shall be determined through the

AQB Course Approval Program or by an alternative method

established by the AQB. Credit for the Uniform Standards of

Professional Appraisal Practice continuing education course will

only be awarded when the class is instructed by AQB Certified

Instructors, one of whom holds a State Certified Residential or

State Certified General designation.

(5) A distance education course may be acceptable to meet

the classroom hour requirement, or its equivalent. For continuing

education, distance education is defined as any education process

based on the geographical separation of the learner and the

instructor (e.g. CD ROM, on-line learning, correspondence

courses, video correspondence courses, video conferencing, etc.).

Distance education courses must be approved by the Director and

meet one (1) of the following conditions:

(A) The course is presented by an organized group in an

instructional setting with a person qualified and available to

answer questions, provide information, and monitor student

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attendance, and is a minimum of two (2) classroom hours

and meets the requirements for continuing education courses

established by the Appraiser Qualifications Board; or

(B) The course has been presented by an accredited

(Commission on Colleges or regional accreditation

association) college or university that offers distance

education programs in other disciplines; or

(C) Has received approval of the International Distance

Education Certification Center=s (IDECC) for the course

design and delivery mechanism and either (a) the approval

of the Appraiser Qualifications Board through the AQB

Course Approval Program or, (b) the approval of the

licensing or certifying jurisdiction where the course is being

offered for the content of the course. Additionally, the

course must meet the following requirements:

(i) The course is equivalent to a minimum of two

(2) classroom hours in length and meets the

requirements for real estate appraisal-related courses

established by the Appraiser Qualifications Board; and

(ii) The learner successfully completes a written

examination proctored by an official approved by the

presenting college or university or by the sponsoring

organization consistent with the requirements of the

course accreditation; or if written examination is not

required for accreditation, the learner successfully com-

pletes the course mechanisms required for the

accreditation which demonstrates mastery and fluency

(said mechanisms must be presented in a course

without an exam in order to be acceptable).

(6) Credit may be granted for educational offerings which

cover residential real estate-related appraisal topics such as those

listed below and which are consistent with the purpose of

continuing education as stated in Subsection (8) below.

(A) Ad valorem taxation;

(B) Arbitration;

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(C) Business courses related to practice of real estate

appraisal;

(D) Construction estimating;

(E) Ethics and standards of professional practices;

(F) Land use planning, zoning and taxation;

(G) Litigation;

(H) Management, leasing, brokerage, timesharing;

(I) Property development;

(J) Real estate appraisal (valuations/evaluations);

(K) Real estate law;

(L) Real estate financing and investment;

(M) Real estate appraisal-related computer

applications;

(N) Real estate securities and syndication; and

(O) Real property exchange.

(7) Continuing education credit may also be granted for

participation, other than as a student, in appraisal educational

processes and programs. Examples of activities for which credit

may be granted are teaching, program development, authorship of

textbooks, or similar activities which are determined by the

Director to be equivalent to obtaining continuing education.

(8) The purpose of continuing education is to ensure that the

appraiser participates in a program that maintains and increases

his or her skill, knowledge and competency in real estate

appraising.