20:14:05:08Educational requirements for state-certified general appraiser -- Appraiser education.

The following educational requirements apply to state-certified general appraisers: (1) An applicant for examination as state-certified general appraiser credential shall have completed three hundred creditable class hours of approved qualifying education, which includes successful completion of each course examination. Acceptable education is as follows: (a) Basic appraisal principles -- thirty hours; (b) Basic appraisal procedures -- thirty hours; (c) A fifteen-hour qualifying course that covers the uniform standards; (d) General appraiser market analysis and highest and best use -- thirty hours; (e) Statistics, modeling, and finance -- fifteen hours; (f) General appraiser sales comparison approach -- thirty hours; (g) General appraiser site valuation and cost approach -- thirty hours; (h) General appraiser income approach -- sixty hours; (i) General appraiser report writing and case studies -- thirty hours; and (j) Appraisal subject matter electives -- thirty hours. An applicant shall demonstrate that the applicant's acceptable education emphasizes properties other than one- to four-family residential properties. (2) A registered trainee appraiser satisfies the appraiser educational requirements for the state-certified general appraiser credential by completing the following additional educational hours: (a) General appraiser market analysis and highest and best use -- thirty hours; (b) Statistics, modeling, and finance -- fifteen hours; (c) General appraiser sales comparison approach -- thirty hours; (d) General appraiser site valuation and cost approach -- thirty hours; (e) General appraiser income approach -- sixty hours; (f) General appraiser report writing and case studies -- thirty hours; and (g) Appraisal subject matter electives -- thirty hours. (3) A state-licensed appraiser satisfies the appraiser educational requirements for the state-certified general appraiser credential by completing the following additional educational hours: (a) General appraiser market analysis and highest and best use -- fifteen hours; (b) Statistics, modeling, and finance -- fifteen hours; (c) General appraiser sales comparison approach -- fifteen hours; (d) General appraiser site valuation and cost approach -- fifteen hours; (e) General appraiser income approach -- forty-five hours; (f) General appraiser report writing and case studies -- fifteen hours; and (g) Appraisal subject matter electives -- thirty hours. (4) A state-certified residential appraiser satisfies the appraiser education requirements for the state-certified general appraiser credential by completing the following additional educational hours: (a) General appraiser market analysis and highest and best use -- fifteen hours; (b) General appraiser sales comparison approach -- fifteen hours; (c) General appraiser site valuation and cost approach -- fifteen hours; (d) General appraiser income approach -- forty-five hours; and (e) General appraiser report writing and case studies -- ten hours.

Source: 18 SDR 36, effective August 25, 1991; 19 SDR 12, effective August 3, 1992; 21 SDR 49, effective September 18, 1994; 22 SDR 91, effective January 1, 1996; 23 SDR 113, effective January 12, 1997; 24 SDR 91, effective January 8, 1998; 32 SDR 109, adopted December 7, 2005, effective January 1, 2008; 33 SDR 2, adopted June 29, 2006, effective January 1, 2008; 35 SDR 175, effective January 1, 2009; 38 SDR 116, effective January 10, 2012; 44 SDR 27, effective August 14, 2017; 49 SDR 48, effective November 22, 2022; 49 SDR 48, effective October 1, 2023.