Guam § 30109 - Guam Certified Appraiser - Classification: Qualification

§ 30109. Guam Certified Appraiser - Classification: Qualification

Criteria.

The Guam Certified Appraiser classification applies to the appraisal of

all types of real property. Applicants must meet the following examination,

COL 06112010

education, and experience requirements. Subsequent to being licensed or

certified, an individual must meet the continuing education requirement:

(a) Examination. Successful completion of the Appraiser

Qualifications Board of the Appraisal Foundation's endorsed Uniform

Certification Examination or its equivalent.

(b) Education.

(1) Prerequisites to the examination: A minimum of one hundred

eighty (180) classroom hours, which may include the ninety (90)

classroom hours required for the Residential Classification 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 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 educa ntional 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 organizations;

(D) Territorial, state or Federal agencies or commissions;

(E) Proprietary schools; and

(F) Other providers approved by the Director.

(4) A distance course may be acceptable to meet classroom hour

requirement, or its equivalent. For qualifying education, distance

education is defined as any educational process based on the

COL 06112010

geographical separation of the learner and the instructor (e.g. CD

ROM, on-line learning, correspondence courses, video conferencing,

etc.). For qualifying education, distance education must provide

interaction between learner and instructor and include 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;

(B) The course 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) There is no time limit regarding when qualifying education

credit must have been obtained.

(7) The Director may grant credit for courses where the applicant

obtained credit from the course provider by challenge examination

without attending the courses; provided, that such credit was granted

COL 06112010

by the course provider prior to July 1, 1990, and provided, further that

the Director is satisfied with the quality of the challenge examination

that was administered by the course provider.

(8) Various appraisal courses may be credited toward the one

hundred eighty (180) classroom hour education requirement.

Applicants must demonstrate that their education included coverage of

all the topics listed below with particular emphasis on the appraisal of

non-residential properties.

(A) Influences on real estate value;

(B) Legal considerations in appraisal;

(C) Type of value;

(D) Economic principles;

(E) Real estate markets and analysis;

(F) Valuation process;

(G) Property description;

(H) Highest and best use analysis;

(I) Appraisal math and statistics;

(J) Sales comparison approach;

(K) Site value;

(L) Cost approach;

(M) Valuation of partial interest; and

(N) Appraisal standards and ethics.

(c) Experience. A minimum of thirty (30) months and three thousand

(3,000) hours appraisal experience are required for experience qualification.

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 three thousand (3,000) hours of appraisal experience.

(2) The applicant, for experience credit must have accumulated a

total of a minimum of three thousand (3,000) hours of appraisal

COL 06112010

experience of which at least fifty percent (50%) or one thousand five

hundred (1,500) hours must be in non-residential appraisal work.

(3) Acceptable appraisal experience as set forth by the Director.

This should not be construed as limiting credit to only those

individuals who are Guam certified or Guam licensed.

(4) The verification for experience credit claimed by an applicant

shall be an affidavit in the form pre nscribed by the Director.

(d) Continuing Education.

(1) The equivalent 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

anytime during the two (2) year term.)

(A) Credit for the classroom hour requirement may be

obtained from the following:

(i) Colleges or universities;

(ii) Community or junior colleges;

(iii) Real estate appraisal or real estate-related

organizations;

(iv) Territorial, state or Federal agencies or

commissions;

(v) Proprietary schools; and

(vi) Other providers approved by the Director.

(B) 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 educational

process based on the geographical separation of the learner and

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

courses, video conferencing, etc.). Distance education courses

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

following conditions:

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

instructional setting with a person qualified and available to

COL 06112010

answer questions, provide information, and monitor student

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

(ii) The course has been presented by an accredited

(Commission on Colleges or a regional accreditation

association) college or university that offers distance

education programs in other disciplines; or

(iii) Has received approval of the International Distance

Education Certification Center==s (IDECC) for the course

design and delivery mechanism and either (a) 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 course. Additionally the course must meet the

following requirements:

(1) 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

(2) 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

completes 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).

(C) Credit may be granted for educational offerings which

cover real estate appraisal-related topics such as those listed

below and which are consistent with the purposes of continuing

education stated in Subsection (4) below.

(i) Ad valorem taxation;

(ii) Arbitration;

COL 06112010

(iii) Business courses related to real estate appraisal;

(iv) Construction estimating;

(v) Ethics and standards of professional practice;

(vi) Land use planning, zoning and taxation;

(vii) Litigation;

(viii) Management, leasing, brokerage, timesharing;

(ix) Property development;

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

(xi) Real estate financing and investment;

(xii) Real estate law;

(xiii) Real estate litigation;

(xiv) Real estate appraisal-related computer

applications;

(xv) Real estate securities and syndication; and

(xvi) Real property exchanges.

(2) 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 to be equivalent

to obtaining continuing education.

(3) 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 the 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.

COL 06112010

(4) 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.