CHAPTER 13
CERTIFIED RESIDENTIAL APPRAISER
EDUCATION REQUIREMENTS
193F—13.1(543D) Existing credential holders. Existing credential holders in good standing shall be considered in compliance with current Appraiser Qualifications Board criteria if they have passed an AQB-approved qualifying examination for that credential. This applies to reciprocity, temporary practice, renewals, and applications for the same credential in another jurisdiction. All credential holders must comply with ongoing requirements for continuing education and state renewal procedures.
193F—13.2(543D) Education requirements for certified residential licensing. Following are the education requirements that an individual must meet to apply for a certified residential license, effective January 1, 2008. The changes include increased required education, which is summarized as follows:

Category	Requirements Prior to 1/1/08	Requirements Effective 1/1/08	1/1/08 College-Level Course Requirements	
Certified Residential	120 hours	200 hours	21 semester credit hours covering the following subject matter courses: English composition; principles of economics (micro or macro); finance; algebra, geometry or higher mathematics; statistics; introduction to computers—word processing/spreadsheets; and business or real estate law. In lieu of the required courses, an associate degree will qualify.	
	13.2(1) Any credential issued by the board on or after January 1, 2008, must be in compliance with all components of the AQB real property appraiser qualification criteria. It would not matter when an applicant completed education, examination and experience; if the credential is issued after January 1, 2008, the applicant must meet the requirements for all components of the new qualification criteria.
	13.2(2) Applicants for the certified residential license must hold an associate degree, or higher, from an accredited college, community college or university, unless the requirements of 13.2(3) are satisfied.
	13.2(3) In lieu of the associate degree, an applicant for the certified residential license shall successfully pass the following collegiate subject matter courses from an accredited college, community college, or university:
	a. 	English composition;
	b. 	Principles of economics (micro or macro);
	c. 	Finance;
	d. 	Algebra, geometry, or higher mathematics;
	e. 	Statistics;
	f. 	Computer science; and
	g. 	Business or real estate law.
Total credits are the total hours of equivalent college courses in lieu of an associate degree or 21 semester credit hours for the certified residential appraiser. If an accredited college or university accepts the College-Level Examination Program (CLEP) examination(s) and issues a transcript for the examination showing its approval, the examination will be considered as credit for the college course.
	13.2(4) In addition to the 21 semester hours, an applicant must complete 200 creditable class hours before taking the AQB-approved examination as follows:
certified residential appraiser
required core curriculum
All core courses must be AQB-approved to obtain credit.

Basic appraisal principles	30 hours	
Basic appraisal procedures	30 hours	
The 15-hour USPAP course or equivalent	15 hours	
Residential market analysis and highest and best use	15 hours	
Residential appraiser site valuation and cost approach	15 hours	
Residential sales comparison and income approaches	30 hours	
Residential report writing and case studies	15 hours	
Statistics, modeling and finance	15 hours	
Advanced residential applications and case studies	15 hours	
Appraisal subject matter electives	20 hours	
	13.2(5) The AQB-approved Certified Residential Real Property Appraiser Examination must be successfully completed. There is no alternative to successful completion.
	13.2(6) All prelicense courses must be AQB-approved for a student to obtain credit toward the prelicense requirement. All distance education courses must include a written examination proctored by an official approved by the college or university, or by the sponsoring organization.
	13.2(7) All certified residential appraisers must comply with the COMPETENCY RULE of USPAP.
These rules are intended to implement Iowa Code section 543D.5.
[Filed 4/22/05, Notice 3/16/05—published 5/11/05, effective 6/15/05]
[Filed 8/9/07, Notice 6/20/07—published 8/29/07, effective 10/3/07]