Independent Associate Appraiser Pre-Licensing Program
In conjunction with Richland Community College, Independent Property Assessment Institute is proud to offer the courses necessary to prepare for and take the state examination to obtain an Independent Associate Appraiser License. Person interested in enrolling in this program to become an appraiser should visit www.idfpr.com/dpr/re/Appraisal.asp. This web-site contains the rules and regulations surrounding the appraisal profession, as well as, answers to frequently asked questions.
About the program: Prior to taking the state examination, students are required to successfully complete 75-hours of approved coursework. The coursework consists of two parts:
(1) A 60-hour home-study covering the policies and procedures associated with the appraisal profession. The course syllabus will guide students through the material. It is recommended that students follow the syllabus carefully. While each student will receive 60-hours of credit for completion of this section, it should be noted that the time spent by each student might vary greatly and could require up to three times the amount of time as allowed for credit to obtain the necessary knowledge and skills to pass the state examination.
(2) A 15-hour classroom version of the Uniform Standards of Professional Appraisal Practice (USPAP) course. This course is the national course provided by the Appraisal Foundation. It is a 2-1/2 day course with the examination on the morning of the third day. Only Appraisal Qualification Board certified instructors will be instructing this course.
Once a student has enrolled in the program (and paid the fees) the home-study portion of the course will be sent to them. The student will work, at his/her own pace, to complete the course and will be required to show competency by receiving a score of at least 70% on a comprehensive examination. The final examination consists of 125 multiple choice questions. The time limit is 2-1/2 hours. To take the comprehensive examination, simply refer to the “Testing Locations” on page 9 and contact the IPAI office to schedule a time. IPAI will grade the comprehensive examinations as quickly as possible. As a general rule, exams will be graded within three days of receiving the exams from the proctor. Students will be contacted by the IPAI Executive Director concerning their examination score. If you fail to receive a minimum score on an exam, you may attempt to pass the exam a second time. Students must wait at least 7 days from the original test date and no longer than December 17, 2008. The fee for re-taking the exam is $50.00.
In addition to the home-study portion, students are also required to successfully complete Uniform Standards of Professional Appraisal Practice (USPAP). Please register for one of the offerings of USPAP when enrolling in the program. (Students may take the classroom portion of USPAP prior to taking the comprehensive examination for the home-study portion.) The materials for the USPAP class will be available at the class.
After a student has successfully completed both the home-study portion and the USPAP course, IPAI will report successful completion to Richland Community College. Richland Community College will send official certificates that are needed to apply to sit for the state examination.
Cost of the Course: $785.00 non-refundable fee. The fee includes all textbooks and enrollment in one offering of Uniform Standards of Professional Appraisal Practice. Payment must be received in full prior to shipment of course materials.
Course Registration: To register for the course, students should complete an Appraisal Program Registration Form (next page) and send it, along with payment, to the IPAI office. The IPAI course number is 002-394. In addition, students must register (at the same time) for one of the offerings of Uniform Standards of Professional Appraisal Practice (USPAP). There is not an additional fee to attend the USPAP class but you must register in advance. Students may also register via the IPAI web-site at IPAIONLINE.COM.
Minimum Allowable Time: 60-hours home-study; 15-hours classroom minimum. Course must be completed by Wednesday, December 17, 2008.
Appraiser Continuing Education
The following courses have been approved for continuing education credit by the Independent Department of Financial & Professional Regulation:
The Sales Comparison Approach to Market Value, IPAI course # 002-110
Introduction to Income-Producing Properties – Seminar, IPAI course # 002-130
Appraising Fuel Stations & Convenience Store, IPAI course # 002-922
Marshall & Swift Commercial Cost Approach, IPAI course # 002-920
Valuing Property Affected by Environmental Laws & Regulations, IPAI course # 002-921
Market Factors in Residential Valuation – Seminar, IPAI course # 002-859
Valuation of Residential Land – Seminar, IPAI course # 002-849
The Income Approach: Assessing Real Property Investments – Seminar, IPAI course # 002-829
Commercial Construction, IPAI course # 002-126
Analysis of Commercial Appraisal Reports – Seminar, IPAI course # 002-625
Residential Construction, IPAI course # 002-954
Real Estate Law – Seminar, IPAI course # 002-505
Market Factors in Residential Valuation, IPAI course # 002-128
Introduction to Income-Producing Properties, IPAI course # 002-130
Cadastral Mapping, IPAI course # 002-997
Real Estate Law, IPAI course # 002-994
Valuation of Residential Land, IPAI course # 002-657
Legal Descriptions, IPAI course # 002-613
Analysis of Commercial Appraisal Reports, IPAI course # 002-620
Effective January 1, 2009 through December 31, 2010.