§ 5-20.7-7. Examination requirements.
An original certification as a state-certified or licensed real estate appraiser shall not be issued to any person unless that individual has achieved a passing grade upon a suitable written examination that is consistent with and equivalent to the uniform state certification or licensing examination issued or endorsed by the appraisal qualification board of the Appraisal Foundation. The written examination shall determine that the candidate for state-certified or licensed real estate appraiser possesses the following:
(1) Appropriate knowledge of technical terms commonly used in or related to real estate appraising, appraisal report writing, and economic concepts applicable to real estate;
(2) Understanding of the principles of land economics, real estate appraisal processes, and of problems likely to be encountered in gathering, interpreting, and processing of data in carrying out appraisal disciplines;
(3) Understanding of the standards for development and communicating of real estate appraisals as provided in this chapter;
(4) Knowledge of theories of depreciation, cost estimating, methods of capitalization, and the mathematics of real estate appraisal that are appropriate for the classification of certificate applied for;
(5) Knowledge of other principles and procedures as are appropriate for the respective classifications;
(6) Basic understanding of real estate law; and
(7) Understanding of the types of misconduct for which disciplinary proceedings may be initiated against a state-certified or licensed real estate appraiser, as set forth in this chapter.
History of Section.P.L. 1990, ch. 424, § 1; P.L. 1992, ch. 275, § 1.
Structure Rhode Island General Laws
Title 5 - Businesses and Professions
Chapter 5-20.7 - Real Estate Appraiser Certification Act
Section 5-20.7-1. - Short title.
Section 5-20.7-2. - Definitions.
Section 5-20.7-3. - Certification required.
Section 5-20.7-5. - Powers of the board.
Section 5-20.7-6. - Powers of the department.
Section 5-20.7-7. - Examination requirements.
Section 5-20.7-8. - Classes of certification and licensing — Residential and general.
Section 5-20.7-9. - Requirements prior to certification or licensing examination.
Section 5-20.7-10. - Experience requirement.
Section 5-20.7-11. - Term of certification or license — Renewal.
Section 5-20.7-12. - Issuance of certificate or license — Certificate or license number.
Section 5-20.7-13. - Exclusive use of term.
Section 5-20.7-14. - Principal place of business.
Section 5-20.7-17. - Continuing education prerequisite to renewal.
Section 5-20.7-18. - Retention of records.
Section 5-20.7-19. - Standards of practice.
Section 5-20.7-20. - Revocation or suspension of certification or license.
Section 5-20.7-21. - Violations — Penalties.
Section 5-20.7-22. - Hearing before revocation or suspension; refusal of certification or licensing.
Section 5-20.7-23. - Severability.
Section 5-20.7-24. - Mortgage loan appraisers — Relationship with lending institution.
Section 5-20.7-25. - Effect of federal law.
Section 5-20.7-26. - Order to cease unsafe practices — Appeal.