PURPOSE: This rule defines the examination and education requirements for each level of registration, licensure, and certification for real estate appraisers.

1. (1) Examination and Education Requirements.

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

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

fied general real estate appraiser, an applicant shall successfully complete the Appraiser Qualifications Board (AQB) approved statecertified general real property examination. There is no alternative to successful completion of the examination.

1. A. Applicants who are able to success-

fully complete all requirements for licensure/certification and are approved by the commission on or before December 31, 2014, shall be bound by requirements found in 20 CSR 2245-3.001, 20 CSR 2245-3.005, 20 CSR 2245-3.010, 20 CSR 2245-3.020, and 20 CSR 2245-6.015.

1. B. All applicants who are not able to

successfully complete all requirements for licensure/certification and who have not been approved by the commission on or before December 31, 2014, shall have completed all education and experience requirements contained in 20 CSR 2245-3.005, 20 CSR 2245- 3.010, 20 CSR 2245-3.020, and 20 CSR 2245-6.016 prior to being eligible to take the AQB-approved examination for the appropriate level of licensure/certification.

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

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

fied residential real estate appraiser, an applicant shall successfully complete the AQB- approved state-certified residential real property examination. There is no alternative to successful completion of the examination.

1. A. Applicants who are able to success-

fully complete all requirements for licensure/certification and are approved by the commission on or before December 31, 2014, shall be bound by requirements found in 20 CSR 2245-3.001, 20 CSR 2245-3.005, 20 CSR 2245-3.010, 20 CSR 2245-3.020, and 20 CSR 2245-6.015.

1. B. All applicants who are not able to

successfully complete all requirements for licensure/certification and who have not been approved by the commission on or before December 31, 2014, shall have completed all education and experience requirements contained in 20 CSR 2245-3.005, 20 CSR 2245- 3.010, 20 CSR 2245-3.020, and 20 CSR 2245-6.016 prior to being eligible to take the AQB approved examination for the appropriate level of licensure/certification.

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

   1. 1. To obtain certification as a state-

licensed real estate appraiser, an applicant shall successfully complete the AQB-approved state-licensed residential real property examination. There is no alternative to successful completion of the examination.

1. A. Applicants who are able to success-

fully complete all requirements for licensure/certification and are approved by the commission on or before December 31, 2014, shall be bound by requirements found in 20 CSR 2245-3.001, 20 CSR 2245-3.005, 20 CSR 2245-3.010, 20 CSR 2245-3.020, and 20 CSR 2245-6.015.

1. B. All applicants who are not able to

successfully complete all requirements for licensure/certification and who have not been approved by the commission on or before December 31, 2014, shall have completed all education and experience requirements contained in 20 CSR 2245-3.005, 20 CSR 2245- 3.010, 20 CSR 2245-3.020, and 20 CSR 2245-6.016 prior to being eligible to take the AQB approved examination for the appropriate level of licensure/certification.

1. (D) Trainee Real Estate Appraiser.

   1. 1. There is no examination requirement

for registration as a trainee real estate appraiser other than as 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 state-certified gen-

eral real estate appraiser certification shall hold a bachelor’s degree or higher from an accredited college or university. The college or university must be a degree-granting institute accredited by the Commission on Colleges, a regional or national accreditation association, or by an accrediting agency that is recognized by the U.S. Secretary of Education. Applicants with a college degree from a foreign country may have their education evaluated for “equivalency” by one (1) of the following:

1. A. An accredited, degree-granting,

domestic college or university;

1. B. The American Association of Col-

legiate Registrars and Admissions Officers (AACRAO);

1. C. A foreign degree credential evalu-

ation service company that is a member of the National Association of Credential Evaluation Services (NACES); or

1. D. A foreign degree credential evalu-

ation service company that provides equivalency evaluation reports accepted by an accredited, degree-granting, domestic college or university or by a state licensing board that issues credentials in another discipline.

1. 2. Credit toward qualifying education

requirements may also be obtained via completion of a degree in real estate from an accredited, degree-granting college or university approved by the Association to Advance Collegiate Schools of Business, or a regional or national accreditation agency recognized by the U.S. Secretary of Education, provided that the college or university has had its curriculum reviewed and approved by the AQB.

1. 3. The applicant shall submit verification Total 225 Hours

of completion of three hundred (300) cred-

1. 6. Appraisers holding a valid state-

itable class hours from the core curriculum, licensed real estate appraiser license may satincluding passage of the approved closed-book isfy the educational requirements for the examination for each course, as follows: state-certified general real estate appraiser by

1. A. Basic Appraisal completing the following additional educa- Principles 30 Hours tional hours:
2. B. Basic Appraisal Procedures 30 Hours
3. C. The 15-Hour National Uniform Standards of Professional Appraisal Practice (USPAP) Course or its equivalent 15 Hours
4. D. General Appraiser Market Analysis and Highest and Best Use 30 Hours
5. E. Statistics, Modeling, and Finance 15 Hours
6. F. General Appraiser Sales Comparison Approach 30 Hours
7. G. General Appraiser Total 150 Hours Site Valuation and Cost Approach 30 Hours 7. Appraisers holding a valid state-certified residential real estate appraiser certifica-
8. H. General Appraiser tion may satisfy the educational requirements Income Approach 60 Hours
9. I. General Appraiser for the state-certified general real estate appraiser by completing the following addi- Report Writing and Case tional educational hours: Studies 30 Hours
10. J. Appraisal Subject Matter Electives 30 Hours

Total 300 Hours

1. 4. Applicants shall demonstrate that

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

1. 5. Appraisers holding a valid state-certi-

fied general real estate appraiser trainee license may satisfy the educational requirements for the state-certified general real estate appraiser by completing the following additional educational hours:

1. A. General Appraiser Market Total 100 Hours Analysis and Highest and (B) State-Certified Residential Real Estate Best Use 30 Hours Appraiser. 20 CSR 2245-6

1. B. Statistics, Modeling, and Finance 15 Hours
2. C. General Appraiser Sales Comparison Approach 30 Hours
3. D. General Appraiser Site Valuation and Cost Approach 30 Hours
4. E. General Appraiser Income Approach 60 Hours
5. F. General Appraiser Report Writing and Case Studies 30 Hours
6. G. Appraisal Subject Matter Electives 30 Hours
7. A. General Appraiser Market Analysis and Highest and Best Use 15 Hours
8. B. Statistics, Modeling, and Finance 15 Hours
9. C. General Appraiser Sales Comparison Approach 15 Hours
10. D. General Appraiser Site Valuation and Cost Approach 15 Hours
11. E. General Appraiser Income Approach 45 Hours
12. F. General Appraiser Report Writing and Case Studies 15 Hours
13. G. Appraisal Subject Matter Electives 30 Hours
14. A. General Appraiser Market Analysis and Highest and Best Use 15 Hours
15. B. General Appraiser Sales Comparison Approach 15 Hours
16. C. General Appraiser Site Valuation and Cost Approach 15 Hours
17. D. General Appraiser Income Approach 45 Hours

18. E. General Appraiser Report Writing and Case Studies 10 Hours FINANCIAL INSTITUTIONS AND PROFESSIONAL REGISTRATION

    1. 1. Applicants for the state-certified resi-

dential real estate appraiser certification shall hold a bachelor’s degree or higher from an accredited college or university. The college or university must be a degree-granting institution accredited by the Commission on Colleges, a regional or national accreditation association, or by an accrediting agency that is recognized by the U.S. Secretary of Education. Applicants with a college degree from a foreign country may have their education evaluated for “equivalency” by one (1) of the following:

1. A. An accredited, degree-granting,

domestic college or university;

1. B. The American Association of Col-

legiate Registrars and Admissions Officers (AACRAO);

1. C. A foreign degree credential evalu-

ation service company that is a member of the National Association of Credential Evaluation Services (NACES); or

1. D. A foreign degree credential evalu-

ation service company that provides equivalency evaluation reports accepted by an accredited, degree-granting, domestic college or university, or by a state licensing board that issues credentials in another discipline.

1. 2. Credit toward qualifying education

requirements may also be obtained via completion of a degree in real estate from an accredited, degree-granting college or university approved by the Association to Advance Collegiate Schools of Business, or a regional or national accreditation agency recognized by the U.S. Secretary of Education, provided that the college or university has had its curriculum reviewed and approved by the AQB.

1. 3. The applicant shall submit verifica-

tion of completion of two hundred (200) creditable class hours from the core curriculum, including passage of the approved closedbook examination for each course, as follows:

1. A. Basic Appraisal Principles 30 Hours
2. B. Basic Appraisal Procedures 30 Hours
3. C. The 15-Hour National Uniform Standards of Professional Appraisal Practice (USPAP) Course or its equivalent 15 Hours
4. D. Residential Market Analysis and Highest and Best Use 15 Hours
5. E. Residential Appraiser Site Valuation and Cost Approach 15 Hours
6. F. Residential Sales Comparison and Income Approaches 30 Hours
7. G. Residential Report Writing and Case Studies 15 Hours
8. H. Statistics, Modeling, and Finance 15 Hours
9. I. Advanced Residential Applications and Case Studies 15 Hours
10. J. Appraisal Subject Matter Electives 20 Hours

Total 200 Hours

1. 4. Appraisers holding a valid state-certi-

fied residential real estate appraiser trainee license may satisfy the educational requirements for the state-certified residential real estate appraiser certification by completing the following additional educational hours:

1. A. Residential Market Analysis and Highest and Best Use 15 Hours
2. B. Residential Appraiser Site Valuation and Cost Approach 15 Hours
3. C. Residential Sales Comparison and Income Approaches 30 Hours
4. D. Residential Report Writing and Case Studies 15 Hours
5. E. Statistics, Modeling, and Finance 15 Hours
6. F. Advanced Residential Applications and Case Studies 15 Hours
7. G. Appraisal Subject Matter Electives 20 Hours

Total 125 Hours

1. 5. Appraisers holding a state-licensed

real estate appraiser license may satisfy the educational requirements for the state-certified residential real estate appraiser credential by completing the following additional educational hours:

1. A. Statistics, Modeling, and Finance 15 Hours
2. B. Advanced Residential Applications and Case Studies 15 Hours
3. C. Appraisal Subject Matter Electives 20 Hours

Total 50 Hours

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

   1. 1. Applicants for the state-licensed real

estate appraiser license shall successfully complete thirty (30) semester hours of college-level education from an accredited college, junior college, community college, or university. The college or university must be a degree-granting institution accredited by the Commission on Colleges, a regional or national accreditation association, or by an accrediting agency that is recognized by the U.S. Secretary of Education. If an accredited college or university accepts the College- Level Examination Program (CLEP) and examinations and issues a transcript for the exam, showing its approval, it will be considered as credit for the college course. Applicants holding an associate degree or higher from an accredited college, junior college, community college, or university satisfy the thirty- (30-) hour college level education requirement.

1. 2. Applicants with a college degree from

a foreign country may have their education evaluated for “equivalency” by one (1) of the following:

1. A. An accredited, degree-granting,

domestic college or university;

1. B. The American Association of Col-

legiate Registrars and Admissions Officers (AACRAO);

1. C. A foreign degree credential evalu-

ation service company that is a member of the National Association of Credential Evaluation Services (NACES); or

1. D. A foreign degree credential evalu-

ation service company that provides equivalency evaluation reports accepted by an accredited, degree-granting, domestic college or university or by a state licensing board that issues credentials in another discipline.

1. 3. Credit toward qualifying education

requirements may also be obtained via completion of a degree in real estate from an accredited, degree-granting, college or university approved by the Association to Advance Collegiate Schools of Business, or a regional or national accreditation agency recognized by the U.S. Secretary of Education, provided that the college or university has had its curriculum reviewed and approved by the AQB.

1. 4. The applicant shall submit verifica-

tion of completion of one hundred fifty (150) creditable class hours from the core curriculum, including passage of the approved closed-book examination for each course, as follows:

1. A. Basic Appraisal Principles 30 Hours
2. B. Basic Appraisal Procedures 30 Hours
3. C. The 15-Hour National Uniform Standards of Professional Appraisal Practice (USPAP) Course or its equivalent 15 Hours
4. D. Residential Market Analysis and Highest and Best Use 15 Hours
5. E. Residential Appraiser Site Valuation and Cost Approach 15 Hours
6. F. Residential Sales Comparison and Income Approaches 30 Hours
7. G. Residential Report Writing and Case Studies 15 Hours

Total 150 Hours

1. 5. Appraisers holding a valid state-

licensed real estate appraiser trainee license may satisfy the educational requirements for the state-licensed real estate appraiser by completing the following additional educational hours:

1. A. Residential Market Analysis and Highest and Best Use 15 Hours
2. B. Residential Appraiser Site Valuation and Cost Approach 15 Hours
3. C. Residential Sales Comparison and Income Approaches 30 Hours
4. D. Residential Report Writing and Case Studies 15 Hours

Total 75 Hours

1. (D) Trainee Appraiser.

   1. 1. Applicants for a state-licensed real

estate appraiser trainee, state-certified residential real estate appraiser trainee, or state-certified general real estate appraiser trainee shall submit verification of completion of seventyfive (75) creditable class hours from the core curriculum taken within the five- (5-) year period prior to the date of submission of the application, including passage of the approved closed-book examination for each course, as follows:

1. A. National USPAP Course 15 hours
2. B. Basic Appraisal Principles 30 hours
3. C. Basic Appraisal Procedures 30 hours

Total 75 Hours

AUTHORITY: sections 339.509, 339.511, and 339.515, RSMo Supp. 2012, and section 339.544, RSMo 2000.* Original rule filed Nov. 13, 2012, effective June 30, 2013.

*Original authority: 339.509, RSMo 1990, amended 1998, 2012; 339.511, RSMo 1990, amended 1998, 2012; 339.515, RSMo 1990, amended 1998, 2005, 2012; and 339.544, RSMo 1998.