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: (a) Bachelor’s Degree in any field of study; or (b) Associate’s Degree in a field of study related to: (A) Business Administration (B) Accounting (C) Finance (D) Economics (E) Real Estate; or (c) Successful completion of at least 30 semester hours of college-level courses in each of the following: (A) English Composition (3 hours) (B) Microeconomics (3 hours) (C) Macroeconomics (3 hours) (D) Finance (3 hours) (E) Algebra, Geometry or Higher Math (3 hours) (F) Statistics (3 hours) (G) Computer Science (3 hours) (H) Business Law or Real Estate Law (3 hours) (I) Two elective courses in any of the above topics, or in Accounting, Geography, Agricultural Economics, Business Management, or Real Estate (3 hours each); or (d) Successful completion of at least 30 semester hours of College Level Examination Program (CLEP) exams equivalent to a minimum of 30 semester credit hours in (c) above; or (e) Any combination of paragraphs (c) and (d) above that includes all of the topics identified; or (f) No college-level education required, but must be an appraiser who has held an “active” State Licensed Appraiser credential for a minimum of five (5) years and has 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. (2) At least 1,500 cumulative hours of acceptable appraisal experience. Cumulative experience hours must be acquired in no fewer than twelve (12) months. Completion of an AQB-approved Certified Residential PAREA program satisfies this requirement. Completion of an AQB-approved Licensed Residential PAREA program satisfies an equivalent 1,000 hours of this requirement. (a) Applicants whose current State Licensed Appraiser credential was issued by the Board, and not by another state licensing agency, are only required to submit documentation evidencing completion of an additional 500 hours of appraisal experience. Completion of an AQB-approved Certified Residential PAREA program satisfies this requirement. (b) Applicants who hold an active Oregon State Licensed Appraiser credential through reciprocity in accordance with OAR 161-015-0015 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 documentation evidencing completion of an additional 500 hours of appraisal experience. Completion of an AQB-approved Certified Residential PAREA program satisfies this requirement. 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 documented evidence of experience 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(2)(c), with the following exceptions as noted in paragraphs (3)(a) or (3)(b) below. Each applicant shall have successfully completed the 15-hour 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) Appraisal Subject Matter 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) Appraisal Subject Matter Electives (20 hours). Statutory/Other Authority: ORS 674.305 & 674.310 Statutes/Other Implemented: ORS 674 History: ACLB 1-2025, amend filed 07/22/2025, effective 07/22/2025 ACLB 1-2024, amend filed 07/30/2024, effective 07/30/2024 ACLB 1-2023, amend filed 07/24/2023, effective 07/24/2023 ACLB 6-2018, amend filed 11/08/2018, effective 11/08/2018 ACLB 2-2018, temporary amend filed 06/08/2018, effective 06/11/2018 through 12/07/2018 ACLB 5-2014, f. 12-19-14, cert. ef. 1-1-15 ACLB 3-2014(Temp), f. & cert. ef. 7-7-14 thru 12-31-14 ACLB 1-2013, f. 1-30-13, cert. ef. 1-31-13 ACLB 3-2011, f. & cert. ef. 11-17-11 ACLB 4-2009, f. & cert. ef. 10-27-09 Reverted to ACLB 3-2008, f. & cert. ef. 8-13-08 ACLB 2-2009(Temp), f. 1-28-09, cert. ef. 1-30-09 thru 7-28-09 ACLB 3-2008, f. & cert. ef. 8-13-08 ACLB 1-2008, f. & cert. ef. 5-13-08 ACLB 3-2005, f. & cert. ef 7-22-05 ACLB 3-2003, f. & cert. ef. 5-1-03 ACLB 1-2002, f. & cert. ef. 2-26-02 ACLB 1-1998, f. 6-24-98, cert. ef. 7-1-98 ACLB 1-1997(Temp), f. 10-13-97, cert. ef. 1-1-98 ACLB 1-1994, f. & cert. ef. 2-1-94