61J1-5.001. Appraisal Examination Areas of Competency

(1) To be certified as an appraiser, the applicant must demonstrate by passing an examination that is appropriate for the classification applied for, that he or she possesses:

(a) A knowledge of technical terms commonly used in real estate appraisal.

(b) An understanding of the principles of land economics, real estate appraisal processes, reliable sources of appraising data, and problems likely to be encountered in the gathering, interpreting, and processing of data in carrying out appraisal disciplines.

(c) An understanding of the standards for the development and communication of real estate appraisals as provided in the Real Estate Appraisal License Law.

(d) An understanding of the types of misconduct for which disciplinary proceedings may be initiated against a licensed or certified appraiser as provided in the Real Estate Appraisal License Law.

(e) Knowledge of theories of depreciation, cost estimating, methods of capitalization, and the mathematics of real estate appraisal.

(2)(a) The Board adopts the passing score for the national uniform examination as determined by the Appraisal Qualifications Board (AQB) of the Appraisal Foundation or any successor body recognized by federal law.

(b) A passing score on the Florida Supplemental examination shall be a score of 75% or better. All questions shall be weighed equally and percentages shall be rounded off to whole numbers. In rounding percentages, any percentage which is point five (.5) or above shall be rounded up to the next whole number. Percentages less than point five (.5) shall be dropped. The passing score is valid for 24 months from the date of the examination.

(3) The subject content of the examination shall be as endorsed by the Appraisal Foundation as defined in Section 475.611(1)(b), F.S.

Specific Authority 455.217, 475.614 FS. Law Implemented 455.217, 475.616 FS. History–New 10-15-91, Formerly 21VV-5.001, Amended 2-16-04, 12-11-07, 3-24-09.