REA 173 - Real Estate Appraisal Standards and Ethics

1.5 Continuing Education Units (CEU). This course is not for Credit(s).

This course is the last in a series of three pre-licensure courses designed to meet the requirements for real estate appraisal licensure and certification as required by the Maryland Real Estate Appraisers Commission. Topics to be covered include state licensing and certification requirements and examination contents, federal and state laws and agencies, appraisal organizations, and the uniform standards of professional appraisal practice.

Course Objectives:

1. describe the background of ethics and standards, regulations, and legislation;

2. define appraisal terms including appraisal, appraisal practice, cash flow analysis, client, consulting, feasibility analysis, investment analysis, market analysis, and others;

3. discuss Title XI: Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA);

4. discuss the Appraiser Qualification Board, and the Appraisal Foundation;

5. discuss the appraiser qualification criteria for residential and general real property classifications;

6. list and describe the examination content for residential and general real property appraiser classifications;

7. discuss the Maryland Real Estate Appraisers Act and the regulations of the Maryland Real Estate Appraisers Commission; and

8. discuss the Uniform Standards of Professional Appraisal Practice.