PURPOSE: Effective July 1, 2007, this rule defines the examination and education requirements for each level of registration, licensure and certification.

1. (1) Examination and Education Requirements.

   1. (A) State-Certified Real Estate Appraiser.

      1. 1. To obtain certification as a state-cer-

tified general real estate appraiser, an applicant shall successfully complete the Appraisers Qualifications Board (AQB)-approved State Certified General Real Property Appraiser Examination. There is no alternative to successful completion of the examination. On or after July 1, 2007, to qualify for taking the AQB-approved Uniform State Certified General Real Property Appraiser Examination, an applicant shall satisfy the educational requirements set forth under subsection (2)(A) of this rule. Prior to July 1, 2007, an applicant for examination as a statecertified general real estate appraiser may either satisfy the educational requirements set forth in this rule or in 20 CSR 2245-6.010.

1. (B) State-Certified Residential Real Estate Appraiser.

   1. 1. To obtain a certification as a state-

certified residential real estate appraiser, an applicant shall successfully complete the AQB-approved Certified Residential Real Property Appraiser Examination. There is no alternative to successful completion of the examination. The Certified General Real Property Appraiser Examination is not equivalent to the Certified Residential Real Property Appraiser Examination. On and after July 1, 2007, to qualify for taking the AQB- approved Certified Residential Real Property Appraiser Examination, an applicant shall satisfy the educational requirements set forth in subsection (2)(B) of this rule. Prior to July 1, 2007, an applicant for examination as a state-certified residential real estate appraiser may either satisfy the educational requirements set forth in this rule or in 20 CSR 2245-6.010.

1. (C) State-Licensed Real Estate Appraiser.

   1. 1. To obtain a license as a state-licensed

real estate appraiser, an applicant shall successfully complete the AQB-approved Licensed Residential Real Property Appraiser Examination. There is no alternative to 20 CSR 2245-6

successful completion of the examination. On and after July 1, 2007, to qualify for taking the AQB-approved Licensed Residential Real Property Appraiser Examination, an applicant shall satisfy the educational requirements set forth in subsection (2)(C) of this rule. Prior to July 1, 2007, an applicant for licensure as a state-licensed real estate appraiser may either satisfy the examination requirements set forth in this rule or in 20 CSR 2245-6.010.

1. (D) Trainee Real Estate Appraiser.

   1. 1. There is no examination requirement

for registration as a trainee real estate appraiser other than as is required to earn credit for completion of the prerequisite educational courses.

1. (2) Qualifying Education.

   1. (A) State-Certified General Real Estate Appraiser.

      1. 1. Applicants for the certified general

certification shall hold a bachelor’s degree or higher from a college or university accredited by a regional accrediting commission recognized by the United States Department of Education or an equivalent approving agency for out-of-state schools, unless the requirements of the following paragraph (2)(A)2. are satisfied.

1. 2. In lieu of the bachelor’s degree, an

applicant for the certified general certification shall successfully pass thirty (30) semester credit hours, or its equivalent, including each of the following collegiate subject matter courses from a college, junior college, community college or university accredited by a regional accrediting commission recognized by the United States Department of Education or an equivalent approving agency for out-of-state schools:

1. A. English Composition;
2. B. Micro Economics;
3. C. Macro Economics;
4. D. Finance;
5. E. Algebra, Geometry, or higher

Mathematics;

1. F. Statistics;
2. G. Introduction to computers, word

processing, and spreadsheets;

1. H. Business Law or Real Estate Law;

and

1. I. Two (2) elective courses in account-

ing, geography, ag-economics, business management or real estate.

1. 3. If a college or university accredited

by a regional accrediting commission recognized by the United States Department of Education or an equivalent approving agency for out-of-state schools, accepts the College- Level Examination Program® (CLEP) examination(s) and issues a transcript for the exam showing its approval, it will be considered as credit for the college course.

1. 4. The applicant shall submit verifica-

tion of completion of three hundred (300) creditable class hours from curriculum, including passage of the approved closed-book examination for each course, as follows:

1. A. Basic Appraisal Principles B Basic Appraisal Procedures
2. C. The 15-Hour National Uniform Standards of Professional Appraisal Practice (USPAP) Course or its Equivalent
3. D. General Appraiser Market Analysis and Highest and Best Use
4. E. Statistics, Modeling and Finance
5. F. General Appraiser Sales Comparison Approach 30 Hours
6. G. General Appraiser Site Valuation and Cost Approach
7. H. General Appraiser Income Approach
8. I. General Appraiser Report Writing and Case Studies
9. J. Appraisal Subject Matter Electives (Electives may include hours over minimum shown above in other modules) Total 300 Hours
10. 5. Applicants shall demonstrate that

their education includes the core courses listed in these criteria, with particular emphasis on non-residential properties.

1. (B) State-Certified Residential Real Estate Appraiser.

   1. 1. Applicants for the certified residential

certificate shall hold an associate degree or higher from a college, junior college, community college, or university accredited by a regional accrediting commission recognized by the United States Department of Education or an equivalent approving agency for out-ofstate schools, unless the requirements of paragraph (2)(B)2. of this rule are satisfied.

1. 2. In lieu of the Associate degree, an

applicant for the certified residential certification shall successfully pass twenty-one (21) semester credit hours, or its equivalent, of college courses, including each of the following subject matter courses from a college, junior college, community college, or univer- FINANCIAL INSTITUTIONS AND PROFESSIONAL REGISTRATION

sity accredited by a regional accrediting commission recognized by the United States Department of Education or an equivalent approving agency for out-of-state schools:

the core

Macro);

30 Hours Mathematics;

30 Hours processing, and spreadsheets; and

1. 3. If a college or university accredited

by a regional accrediting commission recog-

15 Hours nized by the United States Department of Education or an equivalent approving agency for out-of-state schools accepts the College- 30 Hours Level Examination Program® (CLEP) examination(s) and issues a transcript for the exam, 15 Hours showing its approval, it will be considered as credit for the college course.

1. 4. The applicant shall submit verifica-

tion of completion of two hundred (200) creditable class hours from the core curriculum,

30 Hours including passage of the approved closedbook examination for each course, as follows: 60 Hours

30 Hours

30 Hours

1. (C) State-Licensed Real Estate Appraiser.

   1. 1. The applicant shall submit verifica-

tion of completion of one hundred fifty (150) creditable class hours from the core curricu-

1. A. English Composition;
2. B. Principles of Economics (Micro or
3. C. Finance;
4. D. Algebra, Geometry, or higher
5. E. Statistics;
6. F. Introduction to computers, word
7. G. Business Law or Real Estate Law.
8. A. Basic Appraisal Principles
9. B. Basic Appraisal Procedures
10. C. The 15-Hour National USPAP Course
11. D. Residential Market Analysis and Highest and Best Use
12. E. Residential Appraiser Site Valuation and Cost Approach
13. F. Residential Sales Comparison and Income Approaches
14. G. Residential Report Writing and Case Studies 15 Hours
15. H. Statistics, Modeling and Finance
16. I. Advanced Residential Applications and Case Studies
17. J. Appraisal Subject Matter Electives (Electives may include hours over minimum shown above in other modules) Total 200 Hours lum, including passage of the approved closed-book examination for each course, as follows:

AUTHORITY: sections 339.509, RSMo 2000 and 339.517, RSMo Supp. 2006.* Original rule filed Nov. 21, 2006, effective July 30, 2007.

*Original authority: 339.509, RSMo 1990, amended 1998 30 Hours and 339.517, RSMo 1990, amended 1990, 1993, 1998, 2003. 30 Hours 15 Hours 20 CSR 2245-6.020 Correspondence Courses (Rescinded July 30, 2007) 15 Hours AUTHORITY: sections 339.509, RSMo Supp. 1990 and 339.517, RSMo Supp. 1993. This rule originally filed as 4 CSR 245-6.020. 15 Hours Emergency rule filed Dec. 6, 1990, effective Dec. 16, 1990, expired April 14, 1991. 30 Hours Emergency rule filed April 4, 1991, effective April 14, 1991, expired Aug. 11, 1991. Original rule filed Jan. 3, 1991, effective April 29, 1991. Amended: Filed Aug. 14, 1991, effective Jan. 13, 1992. Moved to 20 CSR 15 Hours 2245-6.020, effective Aug. 28, 2006. Rescinded: Filed Nov. 21, 2006, effective July 30, 2007. 15 Hours 20 Hours