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Degree Applicable Glendale Community College October, 2006
COURSE OUTLINE
Real Estate Course 7
Uniform Standards of Professional Appraisal Practice (USPAP)
(1 Unit)
I. Catalog Statement
Real Estate Course 7 meets the requirements of the Appraisal Qualifications Board (AQB) of the Appraisal Foundation for state licensing and certification. This course includes the national examination as required by the AQB. Completion of this course and successful completion of the three-hour national examination (the course final examination) are required by the California Office of Real Estate Appraisers (OREA) for initial trainee licensure.
Course Note: Students with disabilities who require special accommodations must contact the GCC Business Division (818 240-1000 X5484) before registering for information to obtain prior written approval from the AQB.
Units — 1.0
Lecture hours — 1.0
Prerequisite: None.
II. Course Entry Expectations
Skills Level Ranges: Reading 5; Writing 4; Listening/Speaking 4; Math 2.
III. Course Exit Standards
Upon successful completion of the required coursework, the student will be able to:
1. define the appraiser's role in safeguarding the federal loan insurance programs;
2. explain in detail the role and requirements of federal and state regulators;
3. describe ethical appraisal business practices;
4. identify appraisal development requirements;
5. list the state appraisal reporting requirements.
IV. Course Content
A. Orientation for USPAP 1 hour
1. Explanation of the course
2. Explanation of the course materials, textbook and student manual
3. Explanation of Course Policies and Procedures as mandated by the Appraisal Foundation
a. No tardiness or absence permitted
b. No classroom tape or video recording without prior approval from the AQB
c. Use of the student tracking form by the professor
d. College procedures for credit
B. Section A 2 hours
1. History
2. Professionalism
3. Valuation Services versus Appraisal Practice
a. Who provides which services and in what context
b. Scope of Work
4. Preamble and structure of USPAP
a. Preamble
b. Standards Rules (1-10)
c. Comments to Standards Rules
d. Statements on Appraisal Standards (1-10)
e. Advisory Opinions (1-27)
C. Section B 3 hours 1. Definitions
a. Review of definitions
b. Meanings as applied to appraisal
2. Preamble
a. Purpose (professionalism, maintaining public trust)
b. Who benefits (importance of public trust)
c. What services are covered (appraisal, review, consulting, etc.)
d. Property types covered (both tangible and intangible property)
3. Ethics Rules
a. Management
b. Confidentiality
c. Record keeping
d. Competency rule
e. Departure/scope of work rule
f. Jurisdictional exception rule
D. Section C 4 hours
1. Standard I
a. Employment of proper procedures in the development of a
real estate appraisal
b. Binding rules
c. Specific rules
d. Scope of work
e. Examples and class discussion
2. Standard II
a. Employment of proper procedures to report a real estate appraisal
b. Complete appraisal
c. Limited appraisal
d. Restricted appraisal
e. Examples and class discussion
E. Section D 1 hour
1. Standard 3
a. Appraisal review overview
b. Proper development techniques/requirements
c. Proper reporting procedures/requirements
F. Section E 1 hour
1. Standards 4 and 5
a. Consulting overview
b. Development techniques/requirements
c. Reporting techniques/requirements
G. Section F 1 hour
1. Standard 6
a. Overview of mass appraisal development and reporting standards
b. Model building (economic)
H. Sections G and H 2 hours
1. Standards 7 and 8
a. Development and reporting of personal property appraisals
b. Levels of trade (auction, retail, private treaty, etc.)
c. Provenance
2. Standards 8 and 9
a. Development and reporting of a business appraisal
b. Importance of intangibles such as goodwill, etc.
I. Sections I and J 1 hour
1. Overview of statements
2. Advisory opinions and review
(WITHOUT FINAL) TOTAL HOURS - 16
V. Methods of Presentation
The following instructional methodologies may be used in the course:
- lecture;
- discussion;
- multimedia.
VI. Assignments and Methods of Evaluation
- Written assignments.
- USPAP National Examination.
VIII. Textbook
The Uniform Standards of Appraisal Practice.
The Appraisal Foundation, Washington, D. C.
Student Workbook.
The Appraisal Foundation, Washington, D. C.
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