Section 179. An original certification as a state-certified general real estate appraiser, state-certified residential real estate appraiser or state-licensed real estate appraiser shall not be issued to any person who has not demonstrated through a written examination process that he possesses the following:
(1) appropriate knowledge of technical terms commonly used in or related to real estate appraising, appraisal report writing, and economic concepts applicable to real estate;
(2) an understanding of the principles of land economics, real estate appraisal processes, and of problems likely to be encountered in gathering, interpreting, and processing data in carrying out appraisal disciplines;
(3) an understanding of the standards for the development and communication of real estate appraisals as provided herein;
(4) knowledge of theories of depreciation, cost estimating, methods of capitalization, and the mathematics of real estate appraisal that are appropriate for the classification of certificate applied for;
(5) knowledge of other principles and procedures as may be appropriate for the respective classifications;
(6) a basic understanding of real estate law; and
(7) understanding of the types of misconduct for which disciplinary proceedings may be initiated against a state-certified or state-licensed real estate appraiser.
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