876 IAC 3-3-10 Credit for appraisal performance

Sec. 10. (a) The quantitative experience requirements must be consistent with the generic experience criteria, established by the Real Property Appraiser Qualification Criteria, January 2026 edition. (b) An applicant may be given full credit for performance of at least seventy-five percent (75%) of the work associated with an appraisal, including preparation of the appraisal report. Full credit may be claimed for that appraisal, even if the work was reviewed by a supervising appraiser who signed the appraisal report, notwithstanding subsection (c). No credit may be given to an applicant performing less than seventy-five percent (75%) of the work on an appraisal. No credit may be given to an applicant for an appraisal unless the applicant either signed the report or was given credit for seventy-five percent (75%) of the work within the certification pages of the appraisal report. (c) An applicant may be given credit for twenty-five percent (25%) of the hours allotted for the type of property appraised if the applicant reviewed an appraisal prepared by a trainee under the applicant's supervision, and the applicant signed the report as the supervisor. (d) An applicant may be given credit for fifty percent (50%) of the hours allotted for the type of property appraised if the applicant prepared a Uniform Standards of Professional Appraisal Practice (USPAP) Standard 3 review report of an appraisal prepared by another person and a separate written review appraisal report. (e) An applicant may be given credit for an additional fifty percent (50%) of the hours allotted for the type of property appraised if the applicant performed an appraisal for condemnation purposes, where there was a partial taking of the property, and documented before and after value of the property was completed. (f) An applicant may be given credit for fifty percent (50%) of the total experience requirement for practicum courses approved by the Appraisal Qualifications Board Course Approval Program or the real estate appraiser licensure and certification board. A practicum course must include the generally applicable methods of appraisal practice for the credential category. Content includes, but is not limited to, the following: (1) Requiring the student to produce credible appraisals that use an actual subject property. (2) Performing market research containing actual sales analysis. (3) Applying and reporting the applicable appraisal approaches in conformity with the USPAP. Assignments must require problem solving skills for a variety of property types for the credential category. Experience credit is granted for the actual classroom hours of instruction and hours of documented research and analysis, as awarded from the practicum course approval process. (g) An appraisal for which experience is claimed under this rule must: (1) be either: (A) an appraisal report; or (B) a restricted report; and (2) comply with the Scope of Work Rule of the USPAP, as adopted in 876 IAC 3-6-2. (h) The total credit given for appraisal work consisting of restricted appraisal reports must not exceed five hundred (500) hours.