S.D. Admin. R. 20:14:05:07 - Educational requirements for state-licensed appraiser - Appraiser education
The following educational requirements apply to state-licensed appraisers:
(1) An
applicant for examination as a state-licensed appraiser credential shall
complete the 150 creditable class hours of approved qualifying education
specified in paragraphs (1)(a) through (1)(g), which includes successful
completion of each course examination. Acceptable education is the Appraiser
Qualifications Board's required core curriculum as follows:
(a) Basic appraisal principles -- 30
hours;
(b) Basic appraisal
procedures -- 30 hours;
(c) 15-hour
qualifying course that covers the uniform standards as adopted in §
20:14:06:01;
(d) Residential market analysis and highest
and best use -- 15 hours;
(e)
Residential appraiser site valuation and cost approach -- 15 hours;
(f) Residential sales comparison and income
approaches -- 30 hours; and
(g)
Residential report writing and case studies -- 15 hours.
(2) A registered trainee appraiser may
satisfy the educational requirements for the state-licensed appraiser
classification by completing the following additional educational hours
specified in paragraphs (2)(a) through (2)(d):
(a) Residential market analysis and highest
and best use -- 15 hours;
(b)
Residential appraiser site valuation and cost approach -- 15 hours;
(c) Residential sales comparison and income
approaches -- 30 hours; and
(d)
Residential report writing and case studies -- 15 hours.
(3) A registered trainee appraiser may
satisfy the educational requirements for the state-licensed appraiser
classification by completing the following additional educational hours
specified in paragraphs (3)(a) through (3)(e) if the registered trainee
appraiser is seeking the state-certified general appraiser credential and the
experience includes nonresidential appraisal work:
(a) General market analysis and highest and
best use -- 30 hours;
(b) General
sales comparison approach -- 30 hours;
(c) General income approach -- 60
hours;
(d) General site valuation
and cost approach -- 30 hours; and
(e) General report writing and case studies
-- 30 hours.
Notes
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.
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