§ 160-I — Examination requirement

§ 160-i. Examination requirement. An original certification as a state\ncertified real estate appraiser or an original license as a state\nlicensed real estate appraiser shall not be issued to any person who has\nnot demonstrated through a written examination process that he or she\npossesses the following:\n 1. Appropriate knowledge of technical terms commonly used in or\nrelated to real estate appraising, appraisals, report writing and\neconomic concepts applicable to real estate;\n 2. Understanding of the principles of land economics, real estate\nappraisal processes, and of problems likely to be encountered in\ngathering, interpreting and processing of data in carrying out appraisal\ndisciplines;\n 3. Understanding of the standards for the development and\ncommunication of real estate appraisals as provided in this article;\n 4. Knowledge of theories of depreciation, cost estimating, methods of\ncapitalization, and the mathematics of real estate appraisal that are\nappropriate for the classification of certificate applied for;\n 5. Knowledge of other principles and procedures as may be appropriate\nfor the respective classifications;\n 6. Basic understanding of real estate law; and\n 7. Understanding of the types of misconduct for which disciplinary\nproceedings may be initiated against a state certified real estate\nappraiser or a state licensed real estate appraiser, as set forth in\nthis article.\n