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.
Notes
S.D. Admin. R.
20:14:05:08
18 SDR 36, effective
8/25/1991; 19 SDR 12, effective
8/3/1992; 21 SDR 49, effective
9/18/1994; 22 SDR 91, effective
1/1/1996; 23 SDR 113, effective
1/12/1997; 24 SDR 91, effective
1/8/1998; 32 SDR 109, adopted
December 7, 2005, effective 1/1/2008; 33 SDR 2, adopted June 29, 2006,
effective 1/1/2008; 35 SDR 175,
effective 1/1/2009; 38 SDR 116,
effective 1/10/2012;
44
SDR 27, effective
8/14/2017;
49
SDR 048, effective
11/22/2022
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.