Guam § 30123 - Guam Certified Residential Appraiser: Classification:

§ 30123. Guam Certified Residential Appraiser: Classification:

Qualification Criteria.

The Guam Certified Residential Appraiser classification authorizes the

appraisal of single, duplex, triplex and quadruplex residential units without

regard to transaction highest and best use. 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 one

hundred twenty (120) classroom hours of courses in subjects related to real

estate appraisal which shall include fifteen (15) classroom hours relative to

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

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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 organizations;

(d) State or Federal agencies or 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 the 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;

(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

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(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 one hundred twenty (120) classroom hour education

requirement. Applicants must demonstrate that their education

involved coverage of all topics listed in Subsection (d)(6) with

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

quadruplex unit residential properties.

(c) Experience. A minimum of two thousand five hundred (2,500)

hours of appraisal experience obtained during no fewer than twenty-four

(24) months is required. If requested, experience documentation in the form

of reports or file memoranda should be available to support the experience

claimed.

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

necessary two thousand five hundred (2,500) 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.);

(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;

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(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) 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 must

hold 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

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)

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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 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).

(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;

(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;

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(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.