Title 19 Part 1103

As used in this Part, the following terms shall have the following meanings:

The term appraisal course shall refer to a course that has either been approved by the department or has been submitted to the department for approval pursuant to section 1103.3 of this Part.

The term appraisal school shall refer to a person or institution that has either been approved by the department or has submitted a request to the department for approval to offer one or more appraisal courses pursuant to section 1103.3(b) of this Part.

The term appraiser assistant shall refer to a NYS licensed real estate appraiser assistant as defined in section 160-a of the Executive Law.

The term certified residential real estate appraiser shall refer to a NYS certified residential real estate appraiser as defined in section 160-a of the Executive Law.

The term, certified general real estate appraiser shall refer to a NYS certified general real estate appraiser as defined in section 160-a of the Executive Law.

The term department shall refer to the NYS Department of State.

The term education coordinator shall refer to that individual who shall be responsible for submitting applications to the department for approval of appraisal schools and appraisal courses. This person shall also be responsible for compliance, by the school and its instructors, of the provisions of this Part and Part 1107 of this Title.

The term licensed real estate appraiser shall refer to a NYS licensed real estate appraiser as defined in section 160-a of the Executive Law.

The term licensee shall refer to a NYS appraiser assistant, NYS licensed real estate appraiser, NYS certified residential real estate appraiser or a NYS certified general real estate appraiser depending on the context.

The term prospective licensee shall refer to an individual who undertakes a course of study as provided in this Part, the satisfactory completion of which would satisfy the NYS educational requirements for licensure or certification as a NYS real estate appraiser assistant, NYS licensed real estate appraiser, NYS certified residential real estate appraiser or a NYS certified general real estate appraiser.

The acronym USPAP means the national Uniform Standards of Professional Appraisal Practice.

Prospective licensees

Valuation and Cost Approach 15 hours (vi) Residential 9 (R-9) Residential Sales Comparison and Income Approach 30 hours (vii) Residential 10 (R-10) Residential Report Writing and Case Studies 15 hours (viii) Statistics, Modeling and Finance (SMF) 15 hours (ix) Residential 11 (R-11) Advanced Residential Applications and Case Studies 15 hours (x) Valuation Bias and Fair Housing Laws and Regulations 8 hours (xi) Appraisal subject matter electives: Introduction to Residential Income Properties (RE-1), Environmental Issues (RE-2), or such other elective course approved by the Department. 15 hours Total 203 hours (2) In addition to the aforementioned education requirements, prospective licensees for a New York State certified residential real estate appraiser certification shall comply with the minimum qualifying education standards -- as established by the Appraiser Qualifications Boards pursuant to Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (Title XI) in the publication entitled: “Real Property Appraiser Qualification Criteria” (Effective January 1, 2026) (herein after “ 2026 AQB” for qualifications for Certified Residential Real Property Appraisers -- appearing in Sections III.A; III.B.1., III.B.2., III.B.3., III.B.4., or III.B.5; or III.C, appearing on pages 22 to 23 of said publication, which is incorporated herein by reference. (i) Copies of the 2026 AQB may be obtained from the publisher at the following address: THE APPRAISAL FOUNDATION The Madison Building 1155 15th Street NW, Suite 1111 Washington, DC 20005 Copies may also be obtained from the publishers' website at: www.appraisalfoundation.org. (ii) Additional copies of the 2026 AQB may be obtained and are available for inspection and copying at: NYS Department of State Division of Licensing Services One Commerce Plaza 99 Washington Avenue Albany, NY 12231-0001 (d) Education requirements for a New York State certified general real estate appraisers. (1) An applicant shall satisfactorily complete the following courses: (i) Residential 5 (R-5) Basic Appraisal Principles 30 hours (ii) Residential 6 (R-6) Basic Appraisal Procedures 30 hours (iii) USPAP or its equivalent, as further defined in section 1103.7 of this Part 15 hours (iv) General 4(G-4) General Market Analysis and Highest and Best Use 30 hours (v) Statistics, Modeling and Finance (SMF) 15 hours (vi) General 5 (G-5) General Appraiser Sales Comparison Approach 30 hours (vii) General 6 (G-6) General Appraiser Site Valuation and Cost Approach 30 hours (viii) General 7 (G-7) General Appraiser Income Approach 60 hours

Appraisal schools

To offer an appraisal course as defined by this Part, an appraisal school must first obtain approval from the department by submitting an application to the department.

Appraisal courses may be presented by any college or university accredited by the Education Department of the State of New York or by a regional accrediting agency accepted by the NYS Commissioner of Education; public and private vocational schools; real estate boards, and real estate appraisal professional societies and organizations. An appraisal school may not be owned, affiliated with or controlled directly or indirectly by a real estate broker, salesperson, appraiser or an employee of an appraiser.

Applications seeking approval from the department to conduct an appraisal course shall be made at least 60 days before the proposed course is to be conducted and in a form prescribed by the department which shall include the following:

Appraisal trade organizations and appraisal schools offering appraisal courses outside the State of New York may apply to the department for approval to offer the appraisal courses for credit within the State of New York. Applications for recognition must demonstrate that the course is substantially equivalent to an appraisal course as outlined in this Part and must contain a course outline and final examination. Recognized courses may be advertised as having received Department of State approval. Said advertisements must, however, state that the recognized course has been approved as a prelicensing/certification course.

nonrefundable. The annual registration period shall run from October 1st to the subsequent September 30th.

$250 for offering one or more of the following appraisal courses: R-5, R-6, R-7, R-8, R-9, R-10, R-11, or any other required original qualifying course.

$250 for offering one or more of the following appraisal courses: G-4, G-5, G-6, G-7, G-8, or any other required original qualifying course.

$250 for offering the National USPAP course.

offering each of the following courses: Statistics, Modeling and Finance; Introduction to Residential Income Properties; Environmental Issues 15 hour course; Environmental Issues 15 hour course; Specialty Appraisals; Using the HP12C Financial Calculator; Supervisory Appraiser/Trainee Appraiser Course and any other elective approved by the Department.

There shall be no change in any approved appraisal course without prior written notice to and approval by the department.

Appraisal courses shall be conducted in such premises and in such facilities as shall be necessary to properly present the course. Factors considered by the department in evaluating the appropriateness of a proposed facility are adequate seating, access to restrooms and other facilities, the functionality of heating and other utilities, access for persons with disabilities and that the proposed course is being offered in a public, commercial facility. No appraisal course shall be conducted in the office of a real estate broker or real estate appraiser. Appraisal courses shall be open to all members of the public regardless of the membership of the prospective licensee in any real estate board or real estate appraisal related professional society or organization.

To meet the minimum statutory requirement, attendance of an appraisal course shall be computed on the basis of an hour equaling not less than 50 minutes. Appraisal schools must provide prospective licensees with a break in instruction of 10 minutes for every hour of instruction. The placement of the break shall be left to the discretion of the appraisal school but shall be for a minimum of 10 minutes per hour of instruction.

To satisfactorily complete any appraisal course, a prospective licensee shall attend 100 percent of the required instruction time. If prospective licensees fail to attend the required instruction time, appraisal schools may, at their discretion, permit the prospective licensees to make up missed subject matter during subsequent classes. Appraisal schools shall not present a final examination to any student who has not completed the attendance requirements.

All final examinations shall be written and presented within a reasonable time after the completion of the course work. No final examination may be administered unless it has been approved by the department. A prospective licensee must obtain a minimum grade of 70 percent on the final examination for each appraisal course taken in order for a certificate of completion to be issued. Prospective licensees who fail to achieve a mark of at least 70 percent on a final examination may, at the discretion of the appraisal school, be allowed to take another final examination. Appraisal schools shall be required to periodically change the final examinations administered to prospective licensees.

Appraisal schools shall provide prospective licensees who have successfully completed an appraisal course with a department approved certificate of successful completion. Prospective licensees receiving said certificates must have attended the required aggregate number of hours of the appraisal course and received a passing grade on the final examination. The certificate shall include the name of the appraisal school, name of the appraisal course that has been completed, the assigned code number of the appraisal school and a statement that the named student has satisfactorily completed a course of study in real estate appraisal subjects approved in accordance with the provisions of chapter 696 of the Laws of 1990 and that his or her attendance was satisfactory and in conformity with the law and that such course was completed on a stated date. The certificate must be signed by the education coordinator, or his or her designee, must be dated and must have affixed thereto the official raised embossed seal of the appraisal school.

Appraisal schools must obtain and keep on file, proof of student completion of appraisal courses, records of attendance and records of instructors for a minimum of five years from the date the appraisal course was completed. Appraisal schools must also retain examination papers for all prospective licensees attending an appraisal course at said school for a period of five years after the completion of the appraisal course. Said records shall be made available for inspection, upon request, by a duly authorized representative of the department.

Appraisal schools must provide the department with evidence of satisfactory policies relating to appraisal course cancellation and tuition refunds. Such policies must be provided in writing to prospective students prior to an appraisal school's acceptance of any fees from the prospective student.

Appraisal schools may not make or publish any false or misleading statement regarding employment opportunities which may be available as a result of the successful completion of an appraisal course or acquisition of a real estate appraiser license/certification. No recruitment activities for employment are to be allowed by the education coordinators whatsoever.

Appraisal schools are prohibited from any placement activities which may result in the offering of employment to students of said school.

Appraisal schools shall permit duly authorized designees of the department to audit any appraisal course offered, to verify attendance and to inspect the records of attendance of the appraisal course at any time during its presentation or thereafter.

Each approved appraisal school may have its own instructor qualification requirements. In addition prospective instructors must apply to the department for approval and must present evidence of the following Appraisal Qualifications Board (AQB) approved qualifications:

An individual who has had a real estate broker, salesperson or an appraisal license or certification revoked or suspended or has been subject to any disciplinary action that affects the Supervisory Appraiser’s legal eligibility to engage in appraisal practice within the last three years is ineligible to receive instructor approval from the department and is ineligible to supervise appraisers assistants.

All instructors must pay the department a one-time instructor application fee of $50. Those instructors who must also pass an appraiser examination to qualify to be a NYS approved instructor shall also pay an examination application fee $25. The successful completion of said examination may be applied toward the examination requirement for certification/licensure. Fees shall be payable on submission of the application or applications and are nonrefundable.

Within 60 days after the receipt of an application for approval or recognition of an appraisal course, the department shall inform the applicant as to whether the application has been approved, denied or whether additional information is needed to determine the acceptability of the application.

The department may deny, suspend or revoke the approval of an appraisal school, instructor, appraisal course or location if it is determined that the appraisal school, instructor, appraisal course or location has failed to comply with any provision of this Part or article 6-e of the Executive Law. Grounds for suspension or revocation are: if the appraisal course does not adequately reflect current real estate appraisal knowledge; if the appraisal school, instructor or anybody associated with the school or instructor has obtained, used or attempted to obtain or use the department's appraisal examination questions or if the examination records of the department disclose that prospective licensees attending the appraisal school have demonstrated, during any annual period, a performance record substantially below the statewide average for first time examination candidates. If disciplinary action is taken, a written order of suspension, revocation or denial of approval will be issued. An appeal from such denial, suspension or revocation shall be made in writing to the Secretary of State or his or her designee.

Residential course outlines The following are the required subjects to be included in the courses of study and the required number of hours to be devoted to residential appraisal courses. All appraisal schools must utilize the following course outline in conducting their programs. The following course outline are not intended to substitute for specific outlines for the proposed course.

A. Real Property Concepts and Characteristics 4 hours

B. Legal Consideration 4 hours

C. Influences on Real Estate Values 2 hours

D. Types of Value 3 hours

E. Economic Principles 10 hours

Principles

F. Overview of Real Estate Markets and Analysis 3 hours

Definitions

G. Ethics and How They Apply in Appraisal Theory and Practice 2 hours

Final Examination (75-100 questions) 2 hours

Total 30 hours

A. Overview of Approaches to Value 10 hours

B. Valuation Procedures 8 hours

C. Property Description 4 hours

D. Residential or General Applications 6 hours

Final Examination (75-100 questions) 2 hours Total 30 hours

A. Residential Markets and Analysis 8 hours

B. Highest and Best Use 6 hours

Final Examination (35-30 questions) 1 hour Total 15 hours

A. Site Valuation 6 hours

B. Cost Approach 8 hours

Final Examination (35-30 questions) 1 hour Total 15 hours

A. Valuation Principles and Procedures—Sales Comparison Approach 1 hour

B. Valuation Principles and Procedures—Income Approach 1 hour

C. Finance and Cash Equivalency—Identification of Seller Concessions and Their Impact on Value 2 hours

D. Financial Calculator Introduction 2 hours

E. Identification, Derivation and Measurement of Adjustments 9 hours

F. Gross Rent Multipliers 2 hours

G. Partial Interests 2 hours

H. Reconciliation 2 hours

I. Case Studies and Applications 7 hours

Final Examination (75-100 questions) 2 hours Total 30 hours

A. Writing and Reasoning Skills 1 hour

B. Common Writing Problems 3 hours

C. Form Reports 2 hours

D. Report Options and USPAP Compliance 2 hours

E. Case Studies 6 hours

Final Examination (35-50 questions) 1 hour Total 15 hours

A. Complex Property, Ownership and Market Conditions 3 hours

B. Deriving and Supporting Adjustments 3 hours

C. Residential Market Analysis - Seller Concessions - Special Energy Efficient Items (i.e., Green Buildings) 3 hours

D. Advanced Case Studies 5 hours

Final Examination (35-30 questions) 1 hour Total 15 hours

A. Understanding Real Estate Bias 1.75 hours

a. Role of the following: real estate agents, insurance, appraisers, lenders, Government Sponsored

Enterprises, federal, state and local agencies, and legislation

b. Redlining

c. Restrictive Covenants

d. Court Rulings

a. Economic Impact of Property Value Disparities for Protected Classes

b. Public Conversation Regarding Valuation Bias

c. Recent Cases and Developments

B. Federal Fair Housing and Antidiscrimination Laws and Regulations 1.75 hours

a. Civil Rights Act of 1866 (Section 1981 and Section 1982)

b. Fair Housing Act

c. Equal Credit Opportunity Act (ECOA)

d. Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA)

e. Unfair and Deceptive Acts and Practices (UDAP)

f. Unfair, Deceptive or Abusive Acts and Practices (UDAAP)

a. Disparate Treatment

b. Disparate Impact

C. Valuation Bias 1.75 hours

a. Explicit

b. Implicit

c. Structural

D. Case Studies 1.75 hours

Best Practices for Avoiding Valuation Bias Final Examination 1 hour Total 8 hours

National Uniform Standards of Professional Appraisal Practice (USPAP) course

Contact the Appraisal Foundation for the current outline for the 15-hour USPAP course. The most current copy must be submitted to the Department of State for approval. All appraisal schools must utilize the Appraisal Foundation course outline in conducting their programs.

The following are the required subjects to be included in the courses of study and the required number of hours to be devoted to statistics, modeling and finance. All appraisal schools must utilize this course outline in conducting their programs. This course outline is not intended to substitute for specific outlines for the proposed course.

A. Statistics 4 hours

B. Valuation Models (AVM's and Mass Appraisal) 4 hours

C. Real Estate Finance 6 hours

Final Examination (35-30 questions) 1 hour

Total 15 hours

Residential elective (RE) course outline

The following are the required subjects to be included in the courses of study and the required number of hours to be devoted to RE appraisal courses. All appraisal schools must utilize the following course outline in conducting their programs. The following course outline is not intended to substitute for specific outlines for the proposed course. (a) RE-1 /Introduction to Residential Income Properties. This regulation should be consulted for any changes prior to offering this course, since this area is evolving very quickly and constant changes are being made. A. Review of Appraisal Process: 1 hour Define the problem Collect and analyze data Analyze highest and best use of the land and the improvement Estimate land value Apply the appropriate valuation approache Reconciliation and final value estimate Appraisal report B. Discussion of Economic Principles: 1 hour Anticipation Balance Change Competition Conformity Opportunity Costs Substitution Supply and Demand C. Investor Objectives: .5 hours Return on Capital Return of Capital D. Appraisal Forms .75 hour Small Residential Income Property Appraisal Single Family Comparable Rent Schedule E. Highest and Best Use 1.25 hours F. Income and Expense Statements .75 hour Owner's statement Reconstructed statement Estimating market rent, vacancy and collection laws Estimating market expenses G. Appraisal Math 2.25 hours Financial calculator Compound interest concepts Six functions of $1 (Tables and Financial Calculators) H. Income Capitalization Approach 5.5 hours Total Instruction 13 hours

Final Examination (75 q. min) 2 hours Total 15 hours (b) RE-2 / Environmental Issues A. ENVIRONMENTAL ISSUES 12 hours 1. Long standing issues - familiar to all 1 hour a. Air - indoor/outdoor air pollutants b. Water municipal drinking water - public

private distribution systems private water systems - wells - private - community health related issues - bacteria - minerals - hardness - Ph - organic Testing procedures and remediation c. Private sewerage disposal systems - septic systems -governed by the Department of Health -must be designed by professional engineer or a registered architect -most septic for homes have as built drawings filed with the local health department -testing & remediation d. Termite Testing -must be licensed by the New York State Department of Health -testing & remediation 2. Contemporary issues 6 hours a. Asbestos historical overview - what is asbestos? - what are its uses? health effects - asbestosis - lung cancer - mesothelioma testing procedures - bulk sampling - air monitoring - wipe sampling removal procedures b. Lead paint water soil health effects - adults - children testing & remediation disclosure requirements c. Radon - including health effects radon entry/behavior testing & remediation

new construction d. Indoor air quality e. Poly-Chlorinated Biphenyls - (PCB's) where they come from testing & remediation f. Environmental assessments primarily used during commercial real estate transactions screening Fannie Mae (1990) Appraisal Standards Board Advisory Opinion Freddie Mac USPAP “Standards of Practice” Phase I, II, III and IV - Phase I - investigative - Phase II - testing phase - Phase III - remediation - Phase IV - management phase g. Underground storage tanks concerns of leaking age of tanks testing and remediation h. Electro-magnetic fields health effects testing and remediation i. Chloro-fluoro carbons - CFC's problems with CFC's depletes ozone layer major CFC problems in homes - aerosols - air conditioners - testing techniques j. Wetlands and flood plains inland lakes and streams flood plains riparian rights soil erosion and permits water table flowage easements and storm water regulation k. Hazardous waste sites effect on value - abatement costs - market perception 3. Environmental laws and regulations 3 hours affecting real estate Resource Conservation and Recovery Act (RCRA) National Environmental Policy Act (NEPA) Clean Water Act (CWA) Rivers and Harbors Act of 1899 (RHA)

Coastal Zone Management Act (CZMA) Clean Air Act (CAA) Toxic Substances Control Act (TSCA) Solid Waste Disposal Act of 1965 Asbestos Hazardous Emergency Response Act (AHERA) Federal Insecticide, Fungicide & Rodenticide Act (FIFRA) Hazardous Material Transportation Act (HMTA) Occupational Safety and Hazard Act (OSHA) EPA board powers over air, soil and water contamination National Environmental Policy Act (NEPA) U.S. v. Maryland Bank & Trust Co. 4. Comprehensive Environmental Response, Compensation and Liability Act (CERCLA OR SUPERFUND) 2 hours liability for contaminated property defenses to liability piercing the corporate veil for CERCLA liability successor liability lender liability under CERCLA 5. Responsibility of appraisers concerning substance contamination 1 hour How does it apply to the property? -recognition of contamination -remediation and compliance cost estimation -value estimates of interests in impacted real estate 6. Liability of lenders 1 hour Types of loans - mortgage - secured - unsecured Key terms Air monitoring Appraisal Standards Board Advisory option Asbestos Asbestos Hazardous Emergency Response Act (AHERA) Asbestosis Bacteria Built Drawings Bulk sampling CERCLA or SUPERFUND Chlordane Chloro-fluoro carbons (CFC's) Clean Air Act (CAA) Clean Water Act (CWA) Coastal Zone Management Act (CZMA) Due diligence Electro-magnetic field Environmental impact statement Environmental Protection Agency (EPA)

Fannie Mae (1900) Federal Insecticide, Fungicide & Rodenticide Act (FIFRA) Freddie Mac Groundwater Hazardous Material Transportation Act (HMTA) Lead Mesothelioma Minerals National Environmental Policy Act (NEPA) Occupational Safety and Hazard Act (OSHA) Organic Ph Phases I, II, III and IV Poly-chlorinated Biphenyls (PCB's) Radon Resource Conservation and Recovery Act (RCRA) Rivers and Harbors Act of 1899 (RHA) Screening Solid Waste Disposal Act of 1965 Successor liability Toxic Substances Control Act (TSCA) Underground storage tanks U.S. vs. Maryland Bank & Trust Co. Water hardness Wipe sampling Instruction Hours 14 hours Final Examination (35-50 questions) 1 hour Total 15 hours

General course outlines The following are the required subjects to be included in the courses of study and the required number of hours to be devoted to general appraisal courses. All appraisal schools must utilize this course outline in conducting their programs. These course outline are not intended to substitute for specific outlines for the proposed course.

A. Real Estate Markets and Analysis 14 hours

B. Highest and Best Use 14 hours

Final Examination (75-100 questions) 2 hours Total 30 hours

A. Value Principles 7 hours

B. Procedures 6 hours

C. Identification and Measurement of Adjustments 5 hours

D. Reconciliation 5 hours

E. Case Studies 5 hours

Final Examination (75-100 questions) 2 hours Total 30 hours

A. Site Valuation 12 hours

B. Cost Approach 16 hours

Final Examination (75-100 questions) 2 hours Total 30 hours

A. Overview 2 hours

B. Compound Interest 3 hours

C. Lease Analysis 5 hours

D. Income Analysis 5 hours

E. Vacancy and Collection Loss 5 hours

F. Estimating Operating Expenses and Reserves 5 hours

G. Reconstructed Income and Expense Statement 5 hours

H. Stabilized Net Operating Income Estimate 5 hours

I. Direct Capitalization 5 hours

J. Discounted Cash Flow 5 hours

K. Yield Capitalization 5 hours

L. Partial Interests 3 hours

M. Case Studies 4 hours

Final Examination (100 question minimum) 3 hours Total 60 hours

A. Writing and Reasoning Skills 8 hours

B. Common Writing Problems 8 hours

C. Report Options and USPAP Compliance 6 hours

D. Case Studies 6 hours

Final Examination (75-100 questions) 2 hours Total 30 hours

A. Understanding Real Estate Bias 1.75 hours

a. Role of the following: real estate agents, insurance, appraisers, lenders, Government Sponsored

Enterprises, federal, state and local agencies, and legislation

b. Redlining

c. Restrictive Covenants

d. Court Rulings

a. Economic Impact of Property Value Disparities for Protected Classes

b. Public Conversation Regarding Valuation Bias

c. Recent Cases and Developments

B. Federal Fair Housing and Antidiscrimination Laws and Regulations 1.75 hours

a. Civil Rights Act of 1866 (Section 1981 and Section 1982)

b. Fair Housing Act

c. Equal Credit Opportunity Act (ECOA)

d. Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA)

e. Unfair and Deceptive Acts and Practices (UDAP)

f. Unfair, Deceptive or Abusive Acts and Practices (UDAAP)

a. Disparate Treatment

b. Disparate Impact

C. Valuation Bias 1.75 hours

a. Explicit

b. Implicit

c. Structural

D. Case Studies 1.75 hours

Best Practices for Avoiding Valuation Bias Final Examination 1 hour Total 8 hours

General elective (GE) course outlines

The following are the required subjects to be included in the courses of study and the required number of hours to be devoted to GE appraisal courses. All appraisal schools must utilize the following course outline in conducting their programs. The following course outline is not intended to substitute for specific outlines for the proposed course. (a) GE-1 / Environmental Issues. This regulation should be consulted prior to offering this course for any changes, since this area is evolving very quickly and constant changes are being made. A. Environmental Issues 14 hours (1) Long standing issues 1 hour (a) Air - indoor/outdoor air pollutants (b) Water municipal drinking water - public private distribution systems private water systems - wells - private - community health related issues - bacteria - minerals - hardness - Ph - organic Testing procedures and remediation (c) Private sewerage disposal systems - septic systems -governed by the Department of Health -must be designed by professional engineer or a registered architect -most septic for homes have as built drawings filed with the local health department -testing & remediation (d) Termite Testing -must be licensed by the New York State Department of Health -testing & remediation (2) Contemporary issues 6 hours (a) Asbestos

historical overview - what is asbestos? - what are its uses? health effects - asbestosis - lung cancer - mesothelioma testing procedures - bulk sampling - air monitoring - wipe sampling removal procedures (b) Lead paint water soil health effects - adults - children testing & remediation disclosure requirements (c) Radon - including health effects radon entry/behavior testing & remediation new construction (d) Indoor air quality (e) Poly-Chlorinated Biphenyls - (PCB's) where they come from testing & remediation (f) Environmental assessments primarily used during commercial real estate transactions screening Fannie Mae (1990) Appraisal Standards Board Advisory Opinion Freddie Mac USPAP “Standards of Practice” Phase I, II, III and IV - Phase I - investigative - Phase II - testing phase - Phase III - remediation - Phase IV - management phase (g) Underground storage tanks concerns of leaking age of tanks testing and remediation (h) Electro-magnetic fields health effects testing and remediation (i) Chloro-fluoro carbons - CFC's problems with CFC's depletes ozone layer major CFC problems in homes - aerosols

- air conditioners - testing techniques (j) Wetlands and flood plains inland lakes and streams flood plains riparian rights soil erosion and permits water table flowage easements and storm water regulation (k) Hazardous waste sites effect on value - abatement costs - market perception (3) Environmental laws and regulations affecting real estate 3 hours Resource Conservation and Recovery Act (RCRA) National Environmental Policy Act (NEPA) Clean Water Act (CWA) Rivers and Harbors Act of 1899 (RHA) Coastal Zone Management Act (CZMA) Clean Air Act (CAA) Toxic Substances Control Act (TSCA) Solid Waste Disposal Act of 1965 Asbestos Hazardous Emergency Response Act (AHERA) Federal Insecticide, Fungicide & Rodenticide Act (FIFRA) Hazardous Material Transportation Act (HMTA) Occupational Safety and Hazard Act (OSHA) EPA board powers over air, soil and water contamination National Environmental Policy Act (NEPA) U.S. v. Maryland Bank & Trust Co. (4) Comprehensive Environmental Response, Compensation and Liability Act (CERCLA OR SUPERFUND) 2 hours liability for contaminated property defenses to liability piercing the corporate veil for CERCLA liability successor liability lender liability under CERCLA (5) Responsibility of appraisers concerning substance Contamination 1 hour

How does it apply to the property? - recognition of contamination - remediation and compliance cost estimation - value estimates of interests in impacted real estate (6) Liability of lenders

1 hour Types of loans - mortgage

- secured - unsecured Key terms Air monitoring Appraisal Standards Board Advisory option Asbestos Asbestos Hazardous Emergency Response Act (AHERA) Asbestosis Bacteria Built Drawings Bulk sampling CERCLA or SUPERFUND Chlordane Chloro-fluoro carbons (CFC's) Clean Air Act (CAA) Clean Water Act (CWA) Coastal Zone Management Act (CZMA) Due diligence Electro-magnetic field Environmental impact statement Environmental Protection Agency (EPA) Fannie Mae (1900) Federal Insecticide, Fungicide & Rodenticide Act (FIFRA) Freddie Mac Groundwater Hazardous Material Transportation Act (HMTA) Lead Mesothelioma Minerals National Environmental Policy Act (NEPA) Occupational Safety and Hazard Act (OSHA) Organic Ph Phases I, II, III and IV Poly-chlorinated Biphenyls (PCB's) Radon Resource Conservation and Recovery Act (RCRA) Rivers and Harbors Act of 1899 (RHA) Screening Solid Waste Disposal Act of 1965 Successor liability Toxic Substances Control Act (TSCA) Underground storage tanks U.S. vs. Maryland Bank & Trust Co. Water hardness Wipe sampling Instruction 14 hours Final Examination (35-50 questions) 1 hour

Total 15 hours

Bulkhead/Tidal erosion Governmental approval/costs (dredging, etc.) case studies Instruction 14 hours Final Examination (35-50 questions) 1 hour Total 15 hours (c) GE-3 /Using the Hp12c Financial Calculator A. Introduction to Functions of the HP12C: 2 hours Financial, Mathematical and statistical Modes (RPN, ALG). Basic Arithmetic calculations. B. Compound Interest and Discount 3 hours Factors Six functions of the dollar. C. Introduction to Variable/irregular 3 hours Cash Flows Selecting and supporting the discount rate. Calculating internal rate of return. D. Determining Overall Capitalization 3 hours Rates Case study valuation Direct capitalization. Discount cash flow yield capitalization. E. Income Valuation Comparison 3 hours Overall rate. Mortgage rate. Equity rate. Comparison of cost and sales approaches. Instruction 14 hours Final examination (35-50 questions) 1 hour Total 15 hours

The following are the required subjects to be included in the course of study and the required number of hours to be devoted to this course. All appraisal schools must utilize this course outline in conducting their programs. This course outline is not intended to substitute for specific outlines for the proposed course. The below course must be completed by all new Supervisory Appraisers and Trainee Appraisers who become credentialed as of January 1, 2015.

Supervisory Appraiser/Trainee Appraiser Course Scope of Syllabus

Distance learning is defined as any educational process based on the geographical separation of instructor and student. Educational providers who wish to offer distance learning programs must have their programs evaluated and approved in accordance with sections 1103.14, 1103.15 and 1103.16.

Applications for approval to conduct distance learning courses of study shall be made on an application prescribed by the department 60 days before the proposed course is to be conducted.