20:14:05:07.02Educational

requirements for state-certified residential appraiser -- General education. An applicant for the state-certified residential appraiser credential must satisfy one of the following general education options: (1) Hold a bachelor's degree, or higher from an accredited college or university; (2) Hold an associate's degree from an accredited college or university in a field of study related to: (a) Business administration; (b) Accounting; (c) Finance; (d) Economics; or (e) Real estate; (3) Successful completion of 30 semester hours of college-level courses from an accredited college or university in the following specific topic areas: (a) English composition (3 semester hours); (b) Microeconomics (3 semester hours); (c) Macroeconomics (3 semester hours); (d) Finance (3 semester hours); (e) Algebra, geometry, or higher mathematics (3 semester hours); (f) Statistics (3 semester hours); (g) Computer science (3 semester hours); (h) Business or real estate law (3 semester hours); and (i) Two elective courses in: (i) Accounting (3 semester hours); (ii) Geography (3 semester hours); (iii) Agricultural economics (3 semester hours); (iv) Business management (3 semester hours); or (v) Real estate (3 semester hours); or (4) Successful completion of at least 30 hours of College Level Examination Program® (CLEP®) examinations from the following subject matter areas: (a) College algebra; (b) College composition; (c) College composition modular; (d) College mathematics; (e) Principles of macroeconomics: (f) Principles of microeconomics; (g) Introductory business law; and (h) Information systems. The applicant for state-certified residential appraiser may use any combination of the specific topic areas listed in (3) above and subject matter areas listed in (4) above to satisfy the 30 semester hours of college-level courses. The college or university shall be a degree-granting institution accredited by the Commission on Colleges, a regional or national accreditation association, or by an accrediting agency that is recognized by the U.S. Secretary of Education.

Source: 32 SDR 109, adopted December 7, 2005, effective January 1, 2008; 34 SDR 67, adopted August 22, 2007, effective January 1, 2008; 36 SDR 112, effective January 11, 2010; 38 SDR 214, adopted June 21, 2012, effective July 1, 2014; 44 SDR 27, effective August 14, 2017; 44 SDR 184, effective June 25, 2018.