ARSD 20:14:05:07. Educational requirements for state-licensed appraiser -- Appraiser education

The following educational requirements apply to state-licensed appraisers: (1) An applicant for examination as a state-licensed appraiser credential shall complete the one hundred fifty creditable class hours of approved qualifying education specified in subsections (1)(a) to (1)(g), inclusive, which includes successful completion of each course examination. Acceptable education is: (a) Basic appraisal principles -- thirty hours; (b) Basic appraisal procedures -- thirty hours; (c) A fifteen-hour qualifying course that covers the uniform standards; (d) Residential market analysis and highest and best use -- fifteen hours; (e) Residential appraiser site valuation and cost approach -- fifteen hours; (f) Residential sales comparison and income approaches -- thirty hours; and (g) Residential report writing and case studies -- fifteen hours. (2) A registered trainee appraiser satisfies the educational requirements for the state-licensed appraiser classification by completing the following additional educational hours: (a) Residential market analysis and highest and best use -- fifteen hours; (b) Residential appraiser site valuation and cost approach -- fifteen hours; (c) Residential sales comparison and income approaches -- thirty hours; and (d) Residential report writing and case studies -- fifteen hours. (3) A registered trainee appraiser satisfies the educational requirements for the state-licensed appraiser classification by completing the following additional educational hours if the registered trainee appraiser is seeking the state-certified general appraiser credential and the experience includes nonresidential appraisal work: (a) General market analysis and highest and best use -- thirty hours; (b) General sales comparison approach -- thirty hours; (c) General income approach -- sixty hours; (d) General site valuation and cost approach -- thirty hours; and (e) General report writing and case studies -- thirty hours.