Section 1455.370  Pre-License Course Curriculum; State Certified General Real Estate Appraiser; State Certified Residential Real Estate Appraiser; Associate Real Estate Appraiser

a)         Pre-license education course work to obtain a license as a State Certified General Real Estate Appraiser shall consist of 300 classroom hours of instruction, which may include the 75 hour requirement for a State Licensed Real Estate Appraiser License issued pursuant to a previous Act, the 75 hour requirement for an Associate Real Estate Appraiser License, or the 200 hour requirement for a State Certified Residential Real Estate Appraiser License.  The content for pre-license instruction courses shall not be repetitive and shall represent a progression of instruction in which the appraiser's knowledge is increased.  The core curriculum for pre-license instruction courses shall be the core curriculum as approved and as revised by the Appraiser Qualifications Board of The Appraisal Foundation.

b)          Pre-license education course work to obtain a license as a State Certified Residential Real Estate Appraiser shall consist of 200 classroom hours of instruction, which may include the 75 hour requirement for a State Licensed Real Estate Appraiser issued pursuant to a previous Act or the 75 hour requirement for an Associate Real Estate Appraiser License.  The content for pre-license instruction courses shall not be repetitive and shall represent a progression of instruction in which the appraiser's knowledge is increased.  The core curriculum for pre-license instruction courses shall be the core curriculum as approved and as revised by the Appraiser Qualifications Board of The Appraisal Foundation.

c)         Pre-license education course work to obtain a license as an Associate Real Estate Appraiser shall consist of 75 classroom hours of instruction and the content of instruction shall include instruction in, but 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 33 Ill. Reg. 7121, effective May 14, 2009)