61J1-6.003. Experience Requirement – Practical Applications of Real Estate Appraisal

61J1-6.003 Experience Requirement – Practical Applications of Real Estate Appraisal. (1) Practical Applications of Real Estate Appraisal (PAREA) programs approved by the Appraiser Qualifications Board of the Appraisal Foundation (AQB), or any successor body recognized by federal law, utilize simulated experience training and serve as an alternative to the traditional Supervisor/Trainee experience model to qualify as Uniform Standards of Professional Appraisal Practice (USPAP) compliant experience. Only PAREA programs approved by the AQB will satisfy the requirements of this rule. (2) Graduates successfully completing an approved certified residential PAREA program will be eligible to receive the following experience credit: (a) Certified residential classification: one hundred percent (100%) of the required experience hours; (b) Certified general classification: fifty percent (50%) of the total required experience, none of which is eligible toward the required non-residential hours.