Please note that this course features the 2014-2015 version of USPAP. The 2016-2017 version of USPAP will be reflected in the course starting in 2016.
This fifteen hour course covers basic rules for ethical behavior and competent performance. The course is designed to comply with USPAP requirements for state certified appraisers and it highlights the role of the appraiser and the implied impartiality often associated with this role. Participants will learn how requirements of the Uniform Standards of Professional Appraisal Practice affect their appraisal businesses.
Overall Learning Objectives
The module objectives are incorporated into the overall objectives for the Appraisal Institute’s 2014-2015 15-Hour Equivalent USPAP Course as identified below:
• Identify the purpose and structure of The Appraisal Foundation and the importance of maintaining public trust in appraisal services.
• Recognize the design structure, key terms and concepts, and primary content sections of the 2014-2015 USPAP document.
• Recognize the role of the appraiser in performing valuation services and the impartiality associated with this role.
• Identify “real-world” scenarios that apply USPAP to situations that appraisers encounter in daily practice.
Pre-Course Quiz: Testing Your Current Knowledge of USPAP
Module 1: Introduction to USPAP
Module 2: USPAP Definitions
Module 3: PREAMBLE and When USPAP Applies
Module 4: ETHICS RULE and COMPETENCY RULE
Module 5: SCOPE OF WORK RULE
Module 6: JURISDICTIONAL EXCEPTION RULE
Module 7: STANDARD 1 - Real Property Appraisal, Development
Module 8: STANDARD 2 - Real Property Appraisal, Reporting
Module 9: STANDARD 3 - Appraisal Review, Development and Reporting
Module 10: STANDARDS 6 - 10
Module 11: Statements and Advisory Opinions
Post-Course Quiz: Testing Your Knowledge of USPAP
Module 12: Conclusion and Final Exam Prep
The principal objective of this course is to familiarize participants with the Uniform Standards of Professional Appraisal Practice (USPAP). An electronic copy of the 2014-2015 USPAP document, known as eUSPAP, is provided and is referred to throughout the course. As you proceed through the course you will discover that impartiality is an integral part of what defines an appraiser. The course emphasizes the appraiser’s role and how impartiality is associated with that role under various assignments—the very types of assignments appraisers perform in everyday practice.
This course is an introduction to USPAP, and therefore many in this course will be focused on assignments that involve the appraisal of real property. However, USPAP extends to assignments involving the appraisal of personal property, and business or intangible assets, in addition to appraisal review and real property appraisal consulting. A clear understanding of USPAP fosters both ethical behavior and competent practice in these appraisal disciplines.
The Appraisal Foundation has placed an emphasis on illustrating USPAP application in real-world examples. This course fulfills this requirement with practical examples, pre- and post-course diagnostic quizzes, problem-solving exercises, and multimedia case studies.
The course includes a 1-hour exam proctored at a Pearson national testing facility.
Do I have to take the 1-hour course exam?
You are required to complete and pass the proctored offline exam if:
• you are taking this class to meet state qualifying education requirements
• you are taking this class to meet the qualifying education requirements for an Appraisal Institute designation
• you are taking this class to meet Appraisal Institute continuing education requirements.
You may be required to complete and pass the proctored offline exam if:
• you are taking this class to meet state continuing education requirements. Most states do not require the exam for CE credit, but please confirm this with your state licensing board.
You will have 90 days from the time that you complete the course to take the proctored exam. Testing center locations in your area can be found by clicking on this link: www.pearsonvue.com/ai.
Note: The regulatory approvals for this 2014-2015 version of the USPAP course expire on December 31, 2015. Please plan accordingly to complete both the online course content and the offline exam at Pearson, and to submit to your state, before December 31, 2015.