Section 1455.370  Qualifying Course Curriculum; State Certified General Real Estate Appraiser; State Certified Residential Real Estate Appraiser; Associate Real Estate Trainee Appraiser

a)         Qualifying education course work to obtain a license as a State Certified General Real Estate Appraiser shall consist of 300 classroom hours of instruction, which shall include the 75 hour requirement for an Associate Real Estate Trainee Appraiser License, or the 200 hour requirement for a State Certified Residential Real Estate Appraiser License.  The content for qualifying education courses shall not be repetitive and shall represent a progression of instruction in which the appraiser's knowledge is increased.  The core curriculum for qualifying education courses shall be the core curriculum as approved and revised by AQB.

b)        Qualifying education course work to obtain a license as a State Certified Residential Real Estate Appraiser shall consist of 200 classroom hours of instruction, which shall include the 75 hour requirement for an Associate Real Estate Trainee Appraiser License.  The content for qualifying education courses shall not be repetitive and shall represent a progression of instruction in which the appraiser's knowledge is increased.  The core curriculum for qualifying education courses shall be the core curriculum as approved and as revised by AQB.

c)         Qualifying education course work to obtain a license as an Associate Real Estate Trainee Appraiser shall consist of 75 classroom hours of instruction and the content of instruction may include instruction in, but is not limited to, the following topics:

1)         influences on real estate value;

2)         legal considerations in appraisal;

3)         types of value;

4)         economic principles;

5)         real estate markets and analysis;

6)         valuation process;

7)         property description;

8)         highest and best use analysis;

9)         appraisal statistical concepts;

10)         sales comparison approach;

11)         site value;

12)         cost approach;

13)         income approach;

14)         valuation of partial interests;

15)         appraisal standards and ethics; and

16)         other topics approved by the Division.

(Source:  Amended at 39 Ill. Reg. 7939, effective June 1, 2015)