BOARD00757

• Board Meeting Date: 1/22/2003
• Description: CF Section - Policy Revisions Policy #5 - Collateral for Construction Fund and Severance Tax TrustFund Perpetual Base Account Project Loans
• Board Meetings - Doc Type: Memo

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INFORMATION FOR COLORADO
REAL ESTATE APPRAISER APPLICANTS

It Is the responsibility of the applicant to ensure that course work Includes both the
required hours of instruction and the required body of knowledge specified in Statute and
Board Rules. Courses must be at least 15 classroom hours with an examination. This is a
summary-See Colorado Board of Real Estate Appraisers Rules for complete Information.

REGISTERED UCENSED CERTIFIED RESIDENTIAL CERTIFIED GENERAL
APPRAISER APPRAISER APPRAISER APPRAISER
No experience requiremetlt. Document at least 2,000 Document at'least 2,500 Document at least 3,000
hours of real estate appraisal hours of real estate appraisal hours of real estate appraisal
work experience acceptable work experience acceptable work experience acceptable
under Chapter 5 of Board under Chapter 5 of Board under Chapter 5 of Board
Rules gained across a pe"riod Rules gained across a period Rules gained over a period of
of not less than 12 months. of not less than 24 months. at least 30 months, At least
This will include complex resi- 1,500 hours of the experi.
dential property experience. e:nce will be appraisal of non~
residential properties.
At least 75 classroom hours of At least 90 classroom hours At least 120 classroom hours At least 180 classroom hours
real estate appraisal education of real estate appraisal educa- of real estate appraisal educa- of real estate appraisal educaR
acceptable to the Board under tion acceptable to the Board tion acceptable to the Board tion acceptable to the Board
the provisions of Chapter 3 of under the provisions of under the provisions of under the provisions of
Board Rules, including at least Chapter 3 of Board Rules, Chapter 3 of Board Rules, Chapter 3 of Board Rules.
15 classroom hours of Uniform including at least 15 class- including at least 15 class- Including at least 15 c1ass-
Standards of Professional room hours of Uniform room hours of Uniform rOom hours of Uniform
Appraisal Practice. Standards of Professional Standards of Professional Standards of Professional
Appraisal Practice. Appraisal Practice. Appraisal Practice,
Real estate appraisal education Real estate appraisal educa- Real estate appraisal educa-
programs completed for credit Real estate appraisal educa-
toward this requirement shall tion programs completed for tion programs completed for tion programs completed for
demonstrate coverage of aU credit toward this requirement credit toward this requirement credit toward this requirement
the following topics, with . shall demonstrate coverage of shall demonstrate coverage of shall demonstrate coverage of
emphasis on basic appraiscll all the following topics, with all the following topics, with all the following topics.
principles and procedures. emphasis on the appraisal of emphasis on the appraisal of Courses completed beyond
Influences on real estate value, typical, non-complex one to one to four unit residential rsquirements for lower level
legal considerations in apprais- four unit residential proper- properties, and shall demon- . licenses shall emphasize the
ai, types of value, economic ties. Influences on real estate strate coverage of complex appraisal of nonresidential
principles, real estate markets value; legal considerations in residential properties as properties. Influences on real
and analysis, valuation process, appraisal; types of value; defined in Chapter 1.23 of estate value; legal considera-
property description, highest economic principles; real Board Rules, Influences on tions in appraisal; types of
& best use analysis, appral",1 estate markets and analysis; real estate value; legal consid- value; economic principles;
statistical concepts, sales corn- valuation process; property erations in appraisal; types of real estate markets and analy-
parison approach, site value, description, highest & best value; economic principles; siB; valuation process; proper-
cost approach, income use analysis; appraisal statisti- real estate markets and analy- ty description; highest & best
approach; valuation of partial cal concepts; sales compari- sis; valuation process; proper- use analysis; appraisal statisti-
interests; appraisal standards son approach; site value;, cost ty description; highest & best cal concepts; sales compari-
& ethics; such other topics as approach; income approach, use analysis; appraisal statisti- son approach; site value; cost
the Board may approve or emphasizing gross rent multi- cal concepts; sales compari- approach; income approach
prescribe. plier, estimation of income son approach; site value; cost el1lphasizing estimation of
and expenses, and operating approach; income approach, income and expenses, operat-
expense ratios; valuation of emphasizing gross rent multi- ing statement-ratios, direct
partial interests; appraisal plier, estimation of income capitalization, cash flow esti-
standards & ethics; such other and expenses, operating mates, measures of cash flow
topics as the Board may expense ratios and direct capi- and discounted cash flow
approve or prescribe. talization; valuation of partial analysis; valuation of partial
interests; narrative report writ- interests; narrative report
ing; appraisal standards & writing; appraisal standards &
ethics; such other topics as ethics; such other topics as
the Board may approve' or the Board may approve or
prescribe. prescribe.
Pass Level A Examination Pass Level A Examination Pass Level B Examination Pass Level C Examination
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