Definitions of terms used in this Title, unless the context otherwise requires, are stated in the Real Property Appraiser Act, NEB. REV. STAT. § 76-2201 et. seq, (hereinafter referred to as "the Act"), the Appraisal Management Company Registration Act, NEB. REV. STAT. § 76-3201 et. seq. (hereinafter referred to as "the AMC Act"), and/or the Uniform Standards of Professional Appraisal Practice, and the definitions as follows:
001.01 Activity means any real property appraiser related education offering.001.02 Automated Valuation Model means any computer software program that analyzes data using an automated process. The program may use regression, adaptive estimation, neural networking, expert reasoning, and/or artificial intelligence. 001.02A An automated valuation model is a tool that delivers an estimation or calculation, and is not in itself an appraisal under NEB. REV. STAT. § 76-2204, or by itself a report under NEB. REV. STAT. § 76-2216.02. If the output from an automated valuation model is communicated as an analysis, conclusion, or opinion of value concerning identified real estate or identified real property that implies the exercise of judgment to the client, intended user, or the public by any person not exempt under NEB. REV. STAT. § 76-2221, the analysis, conclusion, or opinion of value is an appraisal under NEB. REV. STAT. § 76-2204 and communication of the analysis, conclusion, or opinion of value is a report under NEB. REV. STAT. § 76-2216.02.001.03 Broker's price opinion means an analysis, opinion, or conclusion prepared by a person licensed under the Nebraska Real Estate License Act in the ordinary course of his or her business relating to the price of specified interests in or aspects of identified real estate or identified real property for the purpose of (a) listing, purchase, or sale; (b) originating, extending, renewing, or modifying a loan in a transaction other than a federally related transaction; or (c) real property tax appeals.001.04 Classroom education means any activity delivered in a setting where there is no geographical separation between the instructor(s) and student(s).001.05 Continuing education means any real property appraisal practice related activity creditable towards the renewal of a credential issued under the Act. Core curriculum means those qualifying education courses
001.06 adopted in the Real Property Appraiser Qualification Criteria by the Appraiser Qualifications Board of The Appraisal Foundation as required core curriculum for credentialing as a real property appraiser. Core curriculum does not include appraisal subject matter electives.001.07 Course means a qualifying education activity, continuing education activity, or supervisory real property appraiser and trainee activity that includes student material, instructor material, learning objectives, a timed outline, a matrix if applicable, and a final exam if applicable.001.08 Distance education means any activity based on the geographical separation of student and instructor. Components of distance education include synchronous, asynchronous, and hybrid.001.08A Synchronous means the instructor and students interact simultaneously online, similar to a phone call, video chat or live webinar, or web-based meeting.001.08B Asynchronous means the instructor and student interaction is non-simultaneous; the student progresses at his or her own pace and follows a structured content and quiz/exam schedule.001.08C Hybrid means the learning environment allows for classroom, synchronous, and/or asynchronous interaction.001.09 Qualifying education means any real property appraisal practice related education activity creditable towards obtaining a credential as a real property appraiser.001.10 Secondary provider means any education provider that purchases rights to, or otherwise lawfully acquires from another education provider, activity materials to deliver.001.11 Real property appraiser-in-charge means the real property appraiser engaged in real property appraisal practice within the scope of practice for his or her classification, responsible for the significant real property appraisal practice assistance provided by an applicant in the case of a licensed residential real property appraiser or certified residential real property appraiser obtaining real property appraisal practice experience outside of the scope of practice of their current classification.001.12 True copy of report and workfile means any report and/or workfile submitted to the Board is an exact duplicate of the report submitted to the client, as well as the exact duplicate of the workfile associated with such report, including the quality and clarity of the print, charts, graphs, examples, photos, and any information referenced by this Title, and including organization and presentation of materials.298 Neb. Admin. Code, ch. 1, § 001
Amended effective 2/27/2017.Amended effective 4/10/2019Amended effective 12/16/2020Amended effective 12/21/2021Amended effective 6/5/2023