Section 645C.237 - Certification as residential appraiser: Required instruction and higher education1. A course of instruction for an applicant for a certificate as a residential appraiser must: (a) Consist of at least the following: (1) Thirty hours of instruction on basic appraisal principles;(2) Thirty hours of instruction on basic appraisal procedures;(3) Fifteen hours of instruction in the National USPAP Course;(4) Fifteen hours of instruction on residential market analysis and analysis of the highest and best use of real estate;(5) Fifteen hours of instruction on residential appraiser valuation of a site and cost approach;(6) Thirty hours of instruction on residential sales comparison and income approaches;(7) Fifteen hours of instruction on residential report writing and case studies;(8) Fifteen hours of instruction on statistics, modeling and finance;(9) Fifteen hours of instruction on advanced residential applications and case studies;(10) Three hours of instruction on the laws of this State governing appraisals; and(11) Twenty hours of instruction in elective courses relating to appraisals.(b) Except as otherwise provided in subsection 2, be completed within the 5 years immediately preceding the submission of an application for a certificate.2. The Division may allow credit for a course of instruction set forth in subsection 1 that is completed more than 5 years before the submission of an application for a certificate as a residential appraiser if the course is successfully completed at an accredited college or university.3. An applicant for a certificate as a residential appraiser must meet at least one of the following criteria:(a) Holds a bachelor's degree in any field of study.(b) Holds an associate's degree in a field of study related to the following: (1) Business administration;(c) Has successfully completed 30 semester hours of college-level courses which must include not less than: (1) Three semester hours of English composition;(2) Three semester hours of microeconomics;(3) Three semester hours of macroeconomics;(4) Three semester hours of finance;(5) Three semester hours of algebra, geometry or higher mathematics;(6) Three semester hours of statistics;(7) Three semester hours of computer science;(8) Three semester hours of business or real estate law; and(9) Two elective courses each consisting of three semester hours in any of the areas listed in this paragraph or in accounting, geography, agricultural economics, business management or real estate.(d) Has successfully completed at least 30 semester hours of College-Level Examination Program (CLEP) examinations in each of the following areas: (1) Three semester hours of college algebra;(2) Six semester hours of college composition;(3) Three semester hours of college composition modular;(4) Six semester hours of college mathematics;(5) Three semester hours of macroeconomics;(6) Three semester hours of microeconomics;(7) Three semester hours of introductory business law; and(8) Three semester hours of information systems.(e) Successfully completed any combination of paragraphs (c) and (d) that ensure coverage of all areas and semester hours pursuant to paragraph (c).4. An applicant is not required to meet the educational requirements set forth in subsection 3 if he or she holds a current certificate as a residential appraiser issued by another state or territory of the United States or the District of Columbia, has held that certificate for at least 5 years and is in good standing with the authority which issued the certificate.Nev. Admin. Code § 645C.237
Added to NAC by Comm'n of Appraisers of Real Estate, eff. 11-19-91; A by R100-03, 1-30-2004; R158-05, 9-18-2006, eff. 1-1-2008; R196-08, 2-11-2009; A by R011-13, eff. 1-1-2015. A by R176-18A, eff. 5/21/2020