Under the provisions of Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), the Appraiser Qualifications Board(AQB) establishes the minimum education, experience, and examination requirements for real property appraisers to obtain a state license or certification.
State appraiser regulatory agencies are required to implement real property appraiser licensing and certification requirements that are no less stringent than those issued by the AQB in the Real Property Appraiser Qualification Criteria (Criteria).
The original Criteria, adopted by the AQB in March 1991, included the following real property appraiser classifications: Licensed Residential, Certified Residential, and Certified General. The Trainee Appraiser classification was later adopted by the AQB in 1993.
After public exposure, the AQB adopted revisions to the Criteria in early 1994 for implementation in January 1998. The changes included increases in education and experience hours, as well as a requirement for individuals to take the 15-Hour National Uniform Standards of Professional Appraisal Practice (USPAP) Course (or its equivalent) to become an appraiser.
Again, after thorough public exposure, the AQB adopted significant revisions to the Criteria in early 2004 for implementation in January 2008. Major revisions included an increase in the educational hours, as well as the introduction of a Required Core Curriculum for each classification. In addition, college-level education for the Certified Residential and Certified General classifications was required for the first time.
The current Criteria include Interpretations and Guide Notes. Interpretations further clarify the Criteria and are binding requirements. Guide Notes are intended to guide the state appraiser regulatory agencies with enforcing the Criteria, and are not binding requirements.
At its December 2011 Public Meeting, the AQB adopted changes to the Real Property Appraiser Qualification Criteria, to become effective January 1, 2015. A link to the Criteria as well as a summary of the changes can be found below.”