Wisconsin Certified General Appraiser #784

EXPERIENCE:

The criteria for experience is outlined in sec. RL 84.04 Administration Code

RL 84.04 Certified general appraiser course requirements:
(1) An individual who applies for certification as a certified general appraiser shall submit evidence satisfactory to the department that the applicant has completed an approved program of study for certified general appraisers that consists of at least 180 hours of instruction. An applicant who fails to complete the 180 class hours before January 1, 2008, shall satisfy the requirements under sub. (4) instead.

(2) Any approved program of study for certified general appraisers shall include all of the following:
(a) The 15−hour national USPAP course and examination, or its equivalent, that is approved by the appraiser qualifications board (AQB) of the appraisal foundation. Course equivalency shall be determined through the AQB course approval program or by an alternate method established by the AQB. (b) Not less than 40 hours in commercial income approach as described in sub. (3) (c).

(3) Any approved program of study for certified general appraisers shall include all of the following subject areas: (a) Appraisal standards and ethics. (b) Appraisal statistical concepts. (c) Commercial income approach, including all of the following: 1. Mathematics of finance, including compounding, discounting, and mortgage loans. 2. Property income and expense estimating, including lease analysis and analysis of operating statements. 3. Methods of calculating property reversions. 4. Methods of converting income to value including all of the following:
a. Direct capitalization. b. Residual methods, such as land, building, property, and
equity. c. Mortgage equity methods, such as simple mortgage equity and Ellwood/Akerson method.
d. Discounted cash flow methods and internal rate of return. (d) Cost approach. (e) Economic principles. (f) Highest and best use analysis. (g) Influences on real estate value. (h) Legal considerations in appraisal. (i) Property description. (j) Real estate financing. (k) Real estate markets and analysis. (L) Reconciliation of values. (m) Residential income approach. (n) Sales comparison approach. (o) Site value. (p) Types of value. (q) Valuation of partial interests, including leasehold and leased fee valuation. (4) An individual who fails to complete the 180 class hours required under sub. (1) before January 1, 2008, shall submit evidence satisfactory to the department that the individual has successfully completed all of the following: (a) The required 300 class hour core curriculum established by the appraiser qualifications board of the appraisal foundation that consists of all of the following subject areas and corresponding class hours:
1. Basic appraisal principles – 30 hours.
2. Basic appraisal procedures – 30 hours.
3. The 15−hour national USPAP course or its equivalent – 15 hours.
4. General appraiser market analysis and highest and best use – 30 hours.
5. Statistics, modeling and finance – 15 hours.
6. General appraiser sales comparison approach – 30 hours.
7. General appraiser site valuation and cost approach – 30 hours.
8. General appraiser income approach – 60 hours.
9. General appraiser report writing and case studies – 30 hours.
10. Appraisal subject matter electives that may include over the minimum required in the subject areas described in subds. 1. to 9. – 30 hours. (b) A bachelor’s degree, in any field of study, or equivalent education from an accredited college or university. Equivalent education shall consist of at least 30 semester credit hours successfully completed at an accredited college or university, or completed through the College Level Examination Program (CLEP), that covers all of the following subject matter courses:
1. English composition.
2. Micro economics.
3. Macro economics.
4. Finance.
5. Algebra, geometry, or higher mathematics.
6. Statistics.
7. Introduction to computers including word processing and
spreadsheets.
8. Business or real estate law.
9. Two elective courses in accounting, geography, agricultural
economics, business management or real estate.