09.19.02.01

.01 Eligibility to Take Examination or Obtain Original Trainee License.

A. Licensed Real Estate Appraisers. Except as provided in COMAR 09.19.04, to be eligible to sit for the licensed real estate appraisers examination, an applicant shall hold a valid trainee appraiser license and shall have successfully completed 150 classroom hours of study in accordance with the Appraiser Qualifications Board core curriculum as set forth in Regulation .03B of this chapter that includes:

(1) The 15-hour National USPAP Course or an equivalent course approved by the Appraisal Qualifications Board; and

(2) 75 hours in:

(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.

B. Residential Real Estate Appraisers. To be eligible to sit for the certified residential real estate appraisers examination, an applicant shall have successfully completed:

(1) 200 classroom hours of study; and

(2) One of the following:

(a) A bachelor’s degree or higher from an accredited college or university;

(b) An associate’s degree, or higher, from an accredited college, junior college, or community college in a field of study related to:

(i) Business administration;

(ii) Accounting;

(iii) Finance;

(iv) Economics; or

(v) Real estate;

(c) 30 semester credit hours of college-level courses that cover 3 semester hours in each of the following specific topic areas:

(i) English composition;

(ii) Microeconomics;

(iii) Macroeconomics;

(iv) Finance;

(v) Algebra;

(vi) Statistics;

(vii) Computer science;

(viii) Business or real estate law; and

(ix) 2 elective courses in any of the topics listed in §B(2)(c)(i)—(viii) of this regulation or in accounting, geography, agricultural economics, business management, or real estate;

(d) Successful completion of at least 30 semester hours of college-level examination program (CLEP) examinations from each of the following subject matter areas:

(i) College algebra — 3 semester hours;

(ii) College composition — 6 semester hours;

(iii) College composition modular — 6 semester hours;

(iv) College mathematics — 6 semester hours;

(v) Principles of macroeconomics — 3 semester hours;

(vi) Principles of microeconomics — 3 semester hours;

(vii) Introductory business law — 3 semester hours; and

(viii) Information systems — 3 semester hours; or

(e) Any combination of §B(2)(c) or (d) of this regulation that ensures coverage of all topics and hours identified in §B(2)(c) of this regulation.

C. As an alternative to the requirements of §B(2)(c) of this regulation, an individual who has held a real estate appraiser license for a minimum of 5 years may qualify for a residential real estate appraiser certificate by satisfying all of the following:

(1) No record of any adverse, final, and non-appealable disciplinary action affecting the licensee’s legal eligibility to engage in appraisal practice within the 5 years immediately preceding the date of application for a residential real estate appraiser certificate; and

(2) Successful completion of the required Appraiser Qualifications Board core curriculum as set forth in Regulation .03B of this chapter; and

(3) Successful completion of the additional required qualifying education as set forth in §D of this regulation.

D. An individual holding valid trainee appraiser license may satisfy the educational requirements for a residential appraiser certificate by successful completion of Appraiser Qualifications Board core curriculum as set forth in Regulation .03B of this chapter.

E. An individual holding a valid real estate appraiser license may satisfy the educational requirements for a residential real estate appraiser certificate by successful completion of the:

(1) Appraiser Qualifications Board core curriculum as set forth in Regulation .03B of this chapter; and

(2) Additional qualifying education including:

(a) Statistics, modeling, and finance — 15 hours;

(b) Advanced residential applications and case studies — 15 hours; and

(c) Appraisal subject matter electives — 20 hours.

F. An individual holding a valid trainee appraiser license may qualify for a real estate appraiser license by satisfying the college-level education requirements as set forth in §B(2) of this regulation.

G. An individual holding a valid real estate appraiser license who does not meet the requirements set forth in §C of this regulation may qualify for a residential appraiser certificate by satisfying the college-level education requirements as set forth in §B(2) of this regulation.

H. General Real Estate Appraisers. To be eligible to sit for the certified general real estate appraisers examination, an applicant shall have completed:

(1) 300 classroom hours of study; and

(2) A bachelor’s degree or higher from an accredited college or university.

I. To be eligible for a real estate appraiser trainee license, an applicant, within the 5 year period prior to the date of submission of an application for a real estate appraiser trainee license, shall have completed:

(1) 75 hours of classroom study which comply with this regulation; and

(2) A Commission-approved course oriented toward trainee appraiser expectations and responsibilities.