S.C. Code Regs. § § 137-900.05

Current through Register Vol. 48, No. 10, October 25, 2024

Section 137-900.05 - Curriculum and Attendance

(A) Topics for qualifying courses referenced in the South Carolina Real Estate Appraisers and Appraisal Management Companies Act must be broad in scope and must cover various principles, concepts, standards, practices and/or methods that are applicable to the performance of a wide range of appraisal assignments that will commonly be encountered by licenses or certified appraisers in connection with appraisals in federally-related transactions. The courses must be at least fifteen (15) hours and must include an examination pertinent to that educational offering. Prelicense appraisal courses must be in modules which require a specified number of education hours at each credential level as established by the Appraiser Qualifications Board (AQB) of The Appraisal Foundation.

(B) The seventy-five (75) hours required for qualifying as a real estate apprentice appraiser must include content on the following course modules:

1. Basic Appraisal Principles (30 hours);

2. Basic Appraisal Procedures (30 hours);

3. National USPAP Course or its equivalent as determined by the AQB (15 hours).

(C) The one hundred fifty (150) hours required for a state licensed real estate appraiser must include content from the Basic Appraisal Principles (30 hours), Basic Appraisal Procedures (30 hours) and the National USPAP Course or its equivalent as determined by the AQB (15 hours) in addition to the following course modules:

1. Market Analysis And Highest And Best Use (15 hours);

2. Appraiser Site Valuation And Cost Approach (15 hours);

3. Sales Comparison And Income Approaches (30 hours);

4. Report Writing And Case Studies (15 hours).

(D) The two hundred (200) hours required for a state certified residential real estate appraiser must include content from the Basic Appraisal Principles (30 hours), Basic Appraisal Procedures (30 hours), National USPAP Course or its equivalent as determined by the AQB (15 hours), Market Analysis And Highest And Best Use (15 hours), Appraiser Site Valuation And Cost Approach (15 hours), Sales Comparison And Income Approaches (30 hours), and Report Writing And Case Studies (15 hours) in addition to the following course modules:

1. Statistics, Modeling And Finance (15 hours);

2. Advanced Applications And Case Studies (15 hours);

3. Appraisal Subject Matter Electives (20 hours and may include hours over the minimum in other modules).

(E) The three hundred (300) hours required for a state certified general real estate appraiser must include content from the Basic Appraisal Principles (30 hours), Basic Appraisal Procedures (30 hours), National USPAP Course or its equivalent as determined by the AQB (15 hours), Statistics, Modeling And Finance (15 hours) in addition to the following course modules:

1. General Appraiser Market Analysis And Highest And Best Use (30 hours);

2. General Appraiser Sales Comparison Approach (30 hours);

3. General Appraiser Site Valuation And Cost Approach (30 hours);

4. General Appraiser Income Approach (60 hours);

5. General Appraiser Report Writing And Case Studies (30 hours);

6. Appraisal Subject Matter Electives (30 hours and may include hours over the minimum in other modules).

(F) Topics for continuing education courses must contribute to the goal of maintaining or increasing the knowledge, skill and competence of real estate appraisers with regard to the performance of real estate appraisals in a manner that best serves the public interest and must be a minimum of two (2) class hours in length.

(G) Learning objectives and detailed lesson plans reflecting the course content with time allotments must be furnished to the Board at the time of application for approval, along with copies of all quizzes and examinations for qualifying courses. Examinations and the criteria for such examinations and final grade determination may be developed by each provider based on its individual concepts. The Board may, however, direct alterations in examinations procedures, criteria for passing, and administration whenever deemed necessary.

(H) Providers must identify to the Board the texts to be used in any approved course of instruction. The Board may direct that the school withdraw texts and may require additional instructional materials.

(I) For qualifying courses, providers must establish uniform testing and grading procedures for their quizzes and examinations and must use approved instructors for administering and monitoring all such tests. No proprietor, instructor or any other individual may arbitrarily alter a student's grade or offer to students any re-examination of the same test previously administered. Retake examinations must contain at least eighty percent (80%) new material.

(J) Class meetings must be limited to a maximum of eight (8) hours in any given day. Students must be allowed one ten (10) minute break each hour and must be allowed at least one thirty minute break for classes that exceed four (4) hours. Providers must require strict attendance of all classroom hours required by law and must maintain records indicating all student absences.

(K) Providers may offer students failing to meet the minimum-hour requirement make-up sessions as follows:

1. a make-up session offered by the provider consisting of the content covered in the session or hours missed; or

2. a video tape of the class session missed, supervised by the instructor, if not more than twenty percent (20%) of the classroom hours are missed; or

3. attendance of the same class session offered by the provider at a future date.

(L) Each provider must prepare and submit to the Board reports verifying completion of a course for each licensee who satisfactorily completes the course. Such reports shall be transmitted electronically fourteen (14) calendar days following the course. The verified Course Completion Report shall list: the course identification number assigned by the Board, provider's name, instructor's name, title, location and dates of course; full legal name, address, phone number, permit/license/certificate number, if applicable, of each student, along with the number of hours in attendance and final grade, if applicable. The Course Completion Report must be verified by an authorized official of the provider.

(M) A Certificate of Completion prescribed by the Board shall be awarded to each course graduate, signed and dated by the authorized official of the provider, and must contain the course identification number assigned by the Board, provider's name and address, title, location, dates and number of hours of the course, full legal name, and license number, if applicable, of the student.

S.C. Code Regs. § 137-900.05

Added by State Register Volume 19, Issue No. 6, eff June 23, 1995. Amended by State Register Volume 25, Issue No. 5, Part 2, eff May 25, 2001; State Register Volume 32, Issue No. 2, eff February 22, 2008; State Register Volume 38, Issue No. 6, eff 6/27/2014; State Register Volume 40, Issue No. 05, eff. 5/27/2016; State Register Volume 42, Issue No. 05, eff. 5/25/2018; State Register Volume 46, Issue No. 05, eff. 5/27/2022.