Module 2 Qualifications for Appraiser Credentials Flashcards
We will review the minimum qualifications that appraisers must have to achieve one of the four classifications of appraisal licenses and certifications. (10 cards)
A Certified Residential Appraiser receives an appraisal order for an eight-unit apartment complex. Can she accept the assignment?
No. The Certificated Residential Appraiser classification qualifies the appraiser for one to four units.
Supporting Information:
* Certified Residential classification does not cover this many units.
* Certified Residential Appraiser classification has limits on the number of units allowed.
* Waivers are not an option in this circumstance.
Module 2 topic AQB Appraiser Qualifications for more information.
What requirement must be met for a Trainee classification?
Compliance w/ the Competency Rule of USPAP
Page 76 of Supervisory Appraiser-Trainee Appraiser Book
A Certified Residential Appraiser has accumulated 2,500 hours of experience over the last 10 years, holds a bachelor’s degree, and has completed 275 hours of specified education. What else does she need to sit for the exam to become a Certified General Appraiser?
500 more hours experience and 25 hours of specified education
Supporting Information:
* Her experience does not meet the required time period (3,000 hrs) nor education requirements (300 hrs).
See Module 2 topic AQB Appraiser Qualifications for more information.
A Supervisory Appraiser hires three Trainee Appraisers six weeks apart. The training plan is for the first Trainee Appraiser to train the second Trainee Appraiser, who will train the third Trainee Appraiser six weeks later. The Supervisory Appraiser inspects every property with all three Trainee Appraisers. What is true about this arrangement?
The Supervisory Appraiser is responsible for the training, guidance, and direct supervision of all three Trainee Appraisers.
Supporting Information:
* The Supervisory Appraiser is responsible for training all three.
* The AQB requires the Supervisory Appraiser to train the Trainee Appraisers.
See Module 2 topic Overview of Supervisory Appraiser Qualifications for more information.
The Record Keeping Rule applies to
all appraiser categories.
Supporting Information:
* Supervisory Appraisers are responsible for a report even if the inspection was not made.
* All appraisers are subject to the Record Keeping Rule
* Supervisory Appraisers and Trainee Appraisers must jointly maintain an appraisal log.
Page 80 of Supervisory Appraiser-Trainee Appraiser Book
A Trainee Appraiser develops a log that includes a property owner’s name, fee paid, date of report, the Supervisory Appraiser’s signature and certification number, and hours the Trainee worked. What other items should be included?
type of property, address of property, work performed by Trainee Appraiser, scope of review and supervision of Supervisory Appraiser
How can a Trainee Appraiser comply with the Record Keeping Rule when the Supervisory Appraiser owns the business and maintains the files?
The Supervisory Appraiser must provide the Trainee Appraiser access to the workfile and report.
See Module 2 topic Overview of USPAP for more information.
A Trainee Appraiser works with a Supervisory Appraiser who holds a Certified Residential classification. The Supervisory Appraiser tells the Trainee Appraiser she does not have to write a scope of work because the 1004 Residential Form has a preprinted scope of work that applies to all property types. What is true?
The Supervisory Appraiser should work with the Trainee Appraiser to understand what is required in the scope of work and assure the preprinted form is sufficient.
Supporting Information:
* The extent of data researched and type and extent of analyses can change with residential properties.
* Appraisers are not limited to the space on a preprinted form.
* Simply signing a report does not mean it meets AQB requirements.
See Module 2 topic Overview of USPAP for more information.
Which of the credentialing jurisdiction requirements identified below exceed AQB requirements for a Certified Residential Appraiser classification?
Providing current child support info exceed AQB reqs
See Module 2 topic Credentialing Authority Requirements (2 - solution)
for more information.
A student completes the AQB requirements to become a Trainee Appraiser. The person he is considering as a Supervisory Appraiser already has two trainees. The credentialing authority only allows two Trainee Appraisers per Supervisory Appraiser. The Supervisory Appraiser suggests to the student that he become an assistant until one of the two Trainee Appraisers becomes certified. Then, the student could apply for Trainee Appraiser status under the newly certified appraiser. Would this be a problem?
Yes, because the newly certified appraiser would not meet the three-year requirement prior to becoming a Supervisor.
See Module 2 topic Individual Jurisdictional Qualifications for more information.
