45:14F-19. Examinations for licensure, certification
The examinations for licensure or certification under the provisions of this act shall demonstrate that the applicant possesses the following:
a. An appropriate knowledge of technical terms commonly used in or related to real estate appraisal, appraisal report writing, and economic concepts applicable to real estate law;
b. A basic understanding of real estate law;
c. An understanding of the principles of land economics, the real estate appraisal process and problems likely to be encountered in the gathering and processing of data in carrying out appraisal disciplines;
d. An understanding of the standards for the development and communication of real estate appraisal reports established by the board pursuant to this act;
e. An understanding of the grounds for which the board may initiate disciplinary proceedings against a State licensed or certified real estate appraiser, as the case may be;
f. Knowledge of theories of depreciation, cost estimating, methods of capitalization, and the mathematics of real estate appraisal which relate to the classification for which the applicant is applying; and
g. Knowledge of other real estate appraisal principles and procedures which may relate to the classification for which the applicant is applying.
L.1991,c.68,s.19.
Section: Previous 45-14f-12 45-14f-13 45-14f-14 45-14f-15 45-14f-16 45-14f-17 45-14f-18 45-14f-19 45-14f-20 45-14f-21 45-14f-22 45-14f-23 45-14f-24 45-14f-25 45-14f-26 Next
Last modified: October 11, 2016