TITLE 68: PROFESSIONS AND OCCUPATIONS
CHAPTER VII: DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION
SUBCHAPTER b: PROFESSIONS AND OCCUPATIONS
PART 1455 REAL ESTATE APPRAISER LICENSING
SECTION 1455.200 ACCEPTABLE APPRAISAL EXPERIENCE CREDIT


 

Section 1455.200  Acceptable Appraisal Experience Credit

 

a)         Acceptable appraisal experience shall include, but is not limited to, fee and staff appraisal, ad valorem tax appraisal, condemnation appraisal, review appraisal, appraisal analysis, highest and best use analysis, and feasibility analysis/study.  All appraisal experience shall conform to USPAP and shall meet the requirements of the AQB.  All experience credit must have been obtained after January 30, 1989.

 

b)         Appraisal education may not be substituted for appraisal experience, except for practicum courses approved by the AQB Course Approval Program and/or the Division. 

 

c)                  A traditional client is not necessary for an appraisal to qualify for appraisal experience.  Experience gained for work without a traditional client cannot exceed 50% of the total experience requirement.  An hour of appraisal experience is defined as verifiable time spent in performing tasks in accordance with acceptable appraisal experience as identified by the Real Property Appraiser Qualification Criteria.

 

d)         Time spent in travel to and from the subject property and to other data sources shall not count toward appraisal experience.

 

(Source:  Amended at 42 Ill. Reg. 21599, effective November 26, 2018)