<?xml version='1.0' encoding='utf-8'?>
<regulation prefix="Regulation" num=".03" citation="COMAR 09.19.02.03" title_num="09" subtitle_num="19" chapter_num="02" heading="Required Courses.">
  <paragraph num="A.">
    <text>Effective January 1, 2008, in order to meet the 150-hour requirement set forth in Regulation .01 of this chapter, an applicant shall, at a minimum, have completed the required Appraiser Qualifications Board core curriculum for the licensed education requirements, as follows:</text>
    <paragraph num="(1)">
      <text>Basic appraisal principles — 30 hours;</text>
    </paragraph>
    <paragraph num="(2)">
      <text>Basic appraisal procedures — 30 hours;</text>
    </paragraph>
    <paragraph num="(3)">
      <text>The 15-hour national Uniform Standards of Professional Appraisal Practice course or its equivalent — 15 hours;</text>
    </paragraph>
    <paragraph num="(4)">
      <text>Residential market analysis and highest and best use — 15 hours;</text>
    </paragraph>
    <paragraph num="(5)">
      <text>Residential appraiser site valuation and cost approach — 15 hours;</text>
    </paragraph>
    <paragraph num="(6)">
      <text>Residential sales comparison and income approaches — 30 hours; and</text>
    </paragraph>
    <paragraph num="(7)">
      <text>Residential report writing and case studies — 15 hours.</text>
    </paragraph>
  </paragraph>
  <paragraph num="B.">
    <text>Effective January 1, 2008, in order to meet the 200-hour requirement set forth in Regulation .01 of this chapter, an applicant shall, at a minimum, have completed the required Appraiser Qualifications Board core curriculum for the certified residential education requirements, as follows:</text>
    <paragraph num="(1)">
      <text>Basic appraisal principles — 30 hours;</text>
    </paragraph>
    <paragraph num="(2)">
      <text>Basic appraisal procedures — 30 hours;</text>
    </paragraph>
    <paragraph num="(3)">
      <text>The 15-hour national Uniform Standards of Professional Appraisal Practice course or its equivalent — 15 hours;</text>
    </paragraph>
    <paragraph num="(4)">
      <text>Residential market analysis and highest and best use — 15 hours;</text>
    </paragraph>
    <paragraph num="(5)">
      <text>Residential appraiser site valuation and cost approach — 15 hours;</text>
    </paragraph>
    <paragraph num="(6)">
      <text>Residential sales comparison and income approaches — 30 hours;</text>
    </paragraph>
    <paragraph num="(7)">
      <text>Residential report writing and case studies — 15 hours;</text>
    </paragraph>
    <paragraph num="(8)">
      <text>Statistics, modeling and finance — 15 hours;</text>
    </paragraph>
    <paragraph num="(9)">
      <text>Advanced residential applications and case studies — 15 hours; and</text>
    </paragraph>
    <paragraph num="(10)">
      <text>Appraisal subject matter electives — 20 hours.</text>
    </paragraph>
  </paragraph>
  <paragraph num="C.">
    <text>Effective January 1, 2008, in order to meet the 300-hour requirement set forth in Regulation .01 of this chapter, an applicant shall, at a minimum, have completed the required Appraiser Qualifications Board core curriculum for the certified general education requirements, as follows:</text>
    <paragraph num="(1)">
      <text>Basic appraisal principles — 30 hours;</text>
    </paragraph>
    <paragraph num="(2)">
      <text>Basic appraisal procedures — 30 hours;</text>
    </paragraph>
    <paragraph num="(3)">
      <text>The 15-hour national Uniform Standards of Professional Appraisal Practice course or its equivalent — 15 hours;</text>
    </paragraph>
    <paragraph num="(4)">
      <text>General appraiser market analysis and highest and best use — 30 hours;</text>
    </paragraph>
    <paragraph num="(5)">
      <text>Statistics, modeling and finance — 15 hours;</text>
    </paragraph>
    <paragraph num="(6)">
      <text>General appraiser site comparison approach — 30 hours;</text>
    </paragraph>
    <paragraph num="(7)">
      <text>General appraiser site valuation and cost approach — 30 hours;</text>
    </paragraph>
    <paragraph num="(8)">
      <text>General appraiser income approach — 60 hours;</text>
    </paragraph>
    <paragraph num="(9)">
      <text>General appraiser report writing and case studies — 30 hours; and</text>
    </paragraph>
    <paragraph num="(10)">
      <text>Appraisal subject matter electives — 30 hours.</text>
    </paragraph>
  </paragraph>
  <paragraph num="D.">
    <text>Effective January 1, 2015, in order to meet the 75-hour requirement and the Trainee Appraiser Expectation and Responsibilities Course set forth in Regulation .01D of this chapter, an applicant shall, at a minimum, have completed the required Appraiser Qualifications Board core curriculum for the trainee education requirements, as follows:</text>
    <paragraph num="(1)">
      <text>Basic appraisal principles — 30 hours;</text>
    </paragraph>
    <paragraph num="(2)">
      <text>Basic appraisal procedures — 30 hours;</text>
    </paragraph>
    <paragraph num="(3)">
      <text>The 15-hour national Uniform Standards of Professional Appraisal Practice course or its equivalent — 15 hours; and</text>
    </paragraph>
    <paragraph num="(4)">
      <text>Trainee appraiser and responsibilities course.</text>
    </paragraph>
  </paragraph>
  <paragraph num="E.">
    <text>Continuing education credit may be granted for educational offerings that:</text>
    <paragraph num="(1)">
      <text>Are consistent with the purpose of ensuring that appraisers participate in a program that maintains and increases their skill, knowledge, and competency in real property appraising; and</text>
    </paragraph>
    <paragraph num="(2)">
      <text>Cover real property related appraisal topics, including, but not limited to:</text>
      <paragraph num="(a)">
        <text>Ad valorem taxation;</text>
      </paragraph>
      <paragraph num="(b)">
        <text>Arbitration and dispute resolution;</text>
      </paragraph>
      <paragraph num="(c)">
        <text>Courses related to the practice of real estate appraisal or consulting;</text>
      </paragraph>
      <paragraph num="(d)">
        <text>Development cost estimating;</text>
      </paragraph>
      <paragraph num="(e)">
        <text>Ethics and standards of professional practice under the Uniform Standards of Professional Appraisal Practice;</text>
      </paragraph>
      <paragraph num="(f)">
        <text>Land use planning and zoning;</text>
      </paragraph>
      <paragraph num="(g)">
        <text>Management, leasing, and timesharing;</text>
      </paragraph>
      <paragraph num="(h)">
        <text>Property development and partial interests;</text>
      </paragraph>
      <paragraph num="(i)">
        <text>Real estate law, easements, and legal interests;</text>
      </paragraph>
      <paragraph num="(j)">
        <text>Real estate litigation, damages, and condemnation;</text>
      </paragraph>
      <paragraph num="(k)">
        <text>Real estate financing and investment;</text>
      </paragraph>
      <paragraph num="(l)">
        <text>Real estate appraisal related computer applications;</text>
      </paragraph>
      <paragraph num="(m)">
        <text>Real estate securities and syndication;</text>
      </paragraph>
      <paragraph num="(n)">
        <text>Developing opinions of real property value in appraisal that also include personal property and/or business value;</text>
      </paragraph>
      <paragraph num="(o)">
        <text>Seller concessions and impact on value; and</text>
      </paragraph>
      <paragraph num="(p)">
        <text>Energy efficient items and “green building” appraisals.</text>
      </paragraph>
    </paragraph>
  </paragraph>
  <paragraph num="F.">
    <text>Requirement for Appraisal Standards of Conduct and Ethics.</text>
    <paragraph num="(1)">
      <text>Effective January 1, 2003, individuals seeking to meet the educational requirement under this regulation shall successfully complete the 15-hour national Uniform Standards of Professional Appraisal Practice (USPAP) course or its equivalent for qualifying education, as determined by the Appraiser Qualifications Board (AQB) of the Appraisal Foundation.</text>
    </paragraph>
    <paragraph num="(2)">
      <text>The course shall be taken from an instructor who is:</text>
      <paragraph num="(a)">
        <text>An AQB certified USPAP instructor; and</text>
      </paragraph>
      <paragraph num="(b)">
        <text>A State certified residential appraiser or State certified general appraiser.</text>
      </paragraph>
    </paragraph>
  </paragraph>
</regulation>