New Jersey Statutes 45:14F-19. Examinations for licensure, certification
Terms Used In New Jersey Statutes 45:14F-19
- Appraisal: A determination of property value.
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
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.