South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:05 - Qualifications for certification, licensure, and registration › Section 20:14:05:08 - Educational requirements for state-certified general appraiser - Appraiser education

Current through Register Vol. 51, page 10, July 15, 2024
An applicant for examination as state-certified general
				  appraiser credential must have completed 300 creditable class hours of approved
				  qualifying education, which includes successful completion of each course
				  examination. Acceptable education is the Appraiser Qualifications
				  Board-required core curriculum as follows:
(1) Basic appraisal principles -- 30
				hours;
(2) Basic appraisal
				procedures -- 30 hours;
(3)
				Fifteen--hour qualifying course that covers the uniform standards as adopted in
				§
									20:14:06:01;
(4) General appraiser market analysis and
				highest and best use -- 30 hours;
(5) Statistics, modeling, and finance -- 15
				hours;
(6) General appraiser sales
				comparison approach -- 30 hours;
(7) General appraiser site valuation and cost
				approach -- 30 hours;
(8) General
				appraiser income approach -- 60 hours;
(9) General appraiser report writing and case
				studies -- 30 hours;
(10) Appraisal
				subject matter electives -- 30 hours.
An applicant shall demonstrate that the applicant's education
				  includes the core courses listed in these criteria, with particular emphasis on
				  nonresidential properties, which are properties other than one- to four-family
				  residential properties.
A registered trainee appraiser may satisfy the appraiser
				  educational requirements for the state-certified general appraiser credential
				  by completing the following additional educational hours:
(1) General appraiser market analysis and
				highest and best use -- 30 hours;
(2) Statistics, modeling, and finance -- 15
				hours;
(3) General appraiser sales
				comparison approach -- 30 hours;
(4) General appraiser site valuation and cost
				approach -- 30 hours;
(5) General
				appraiser income approach -- 60 hours;
(6) General appraiser report writing and case
				studies -- 30 hours; and
(7)
				Appraisal subject matter electives -- 30 hours.
A state-licensed appraiser may satisfy the appraiser
				  educational requirements for the state-certified general appraiser credential
				  by completing the following additional educational hours;
(1) General appraiser market analysis and
				highest and best use -- 15 hours;
(2) Statistics, modeling, and finance -- 15
				hours;
(3) General appraiser sales
				comparison approach -- 15 hours;
(4) General appraiser site valuation and cost
				approach -- 15 hours;
(5) General
				appraiser income approach -- 45 hours;
(6) General appraiser report writing and case
				studies -- 15 hours; and
(7)
				Appraisal subject matter electives -- 30 hours.
A state-certified residential appraiser may satisfy the
				  appraiser education requirements for the state-certified general appraiser
				  credential by completing the following additional educational hours:
(1) General appraiser market analysis and
				highest and best use -- 15 hours;
(2) General appraiser sales comparison
				approach -- 15 hours;
(3) General
				appraiser site valuation and cost approach -- 15 hours;
(4) General appraiser income approach -- 45
				hours; and
(5) General appraiser
				report writing and case studies -- 10 hours.
General Authority:
SDCL
					 36-21B-3(3)(6).
Law Implemented:
SDCL
					 36-21B-1,
					 36-21B-3(3)(6).
Requirement for qualifying education credit, §
											20:14:13:03.01.
Application for course approval, §
											20:14:13:07.