The Guam Certified Appraiser classification applies to the appraisal of all types of real property. Applicants must meet the following examination,

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education, and experience requirements. Subsequent to being licensed or certified, an individual must meet the continuing education requirement:

(a) Examination. Successful completion of the Appraiser Qualifications Board of the Appraisal Foundation’s endorsed Uniform Certification Examination or its equivalent.

(b) Education.

(1) Prerequisites to the examination: A minimum of one hundred eighty (180) classroom hours, which may include the ninety (90) classroom hours required for the Residential Classification of courses in subjects related to real estate appraisal which shall include fifteen (15) hours of the National Uniform Standards of Professional Appraisal Practice Course, or its equivalent. Equivalency shall be determined through the AQB Course Approval Program or by an alternate method established by the AQB. Uniform Standards of Professional Appraisal Practice qualifying education credit shall only be awarded when the class is instructed by AQB Certified Instructors, one of whom must be a State Certified Residential or Certified General Appraiser.

(2) Credit toward the classroom hour requirement may only be granted where the length of the educa ntional offering is at least fifteen (15) hours, and the individual successfully completes an examination pertinent to that educational offering.

(3) Credit for the classroom hour requirement may be obtained from the following:

(A) Colleges or universities;

(B) Community or junior colleges;

(C) Real estate appraisal or real estate-related organizations; (D) Territorial, state or Federal agencies or commissions; (E) Proprietary schools; and
(F) Other providers approved by the Director.

(4) A distance course may be acceptable to meet classroom hour requirement, or its equivalent. For qualifying education, distance education is defined as any educational process based on the

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geographical separation of the learner and the instructor (e.g. CD ROM, on-line learning, correspondence courses, video conferencing, etc.). For qualifying education, distance education must provide interaction between learner and instructor and include testing. Distance education courses must be approved by the Director and meet one (1) of the following conditions:

(A) The course is presented by an accredited (Commission on Colleges or a regional accreditation association) college or university that offers distance education programs in other disciplines; and

(i) The learner successfully completes a written examination proctored by an official approved by the college or university; and

(ii) the course meets the requirements for qualifying education established by the Appraiser Qualifications Board and is equivalent to the minimum of fifteen (15) classroom hours;

(B) The course received approval for college credit by the American Council on Education through its ACE/Credit Program, or has been approved under the AQB Course Approval Program; and

(i) The learner successfully completes a written examination proctored by an official approved by the presenting entity; and

(ii) The course meets the requirements for qualifying education established by the Appraiser Qualifications Board and is equivalent to the minimum of fifteen (15) classroom hours.

(5) Credit toward the classroom hour requirement may be awarded to the teachers of the appraisal courses.

(6) There is no time limit regarding when qualifying education credit must have been obtained.

(7) The Director may grant credit for courses where the applicant obtained credit from the course provider by challenge examination without attending the courses; provided, that such credit was granted

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by the course provider prior to July 1, 1990, and provided, further that the Director is satisfied with the quality of the challenge examination that was administered by the course provider.

(8) Various appraisal courses may be credited toward the one hundred eighty (180) classroom hour education requirement. Applicants must demonstrate that their education included coverage of all the topics listed below with particular emphasis on the appraisal of non-residential properties.

(A) Influences on real estate value; (B) Legal considerations in appraisal; (C) Type of value;
(D) Economic principles;

(E) Real estate markets and analysis; (F) Valuation process;
(G) Property description;

(H) Highest and best use analysis; (I) Appraisal math and statistics; (J) Sales comparison approach; (K) Site value;
(L) Cost approach;

(M) Valuation of partial interest; and

(N) Appraisal standards and ethics.

(c) Experience. A minimum of thirty (30) months and three thousand (3,000) hours appraisal experience are required for experience qualification. If requested, experience documentation in the form of reports or file memoranda should be available to support the claim for experience.

(1) Hours may be treated as cumulative in order to achieve the necessary three thousand (3,000) hours of appraisal experience.

(2) The applicant, for experience credit must have accumulated a total of a minimum of three thousand (3,000) hours of appraisal

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experience of which at least fifty percent (50%) or one thousand five hundred (1,500) hours must be in non-residential appraisal work.

(3) Acceptable appraisal experience as set forth by the Director. This should not be construed as limiting credit to only those individuals who are Guam certified or Guam licensed.

(4) The verification for experience credit claimed by an applicant shall be an affidavit in the form pre nscribed by the Director.

(d) Continuing Education.

(1) The equivalent of fourteen (14) classroom hours of instruction in courses or seminars for each year during the period preceding the renewal is required. (For example, a two (2) year certification term would require twenty-eight (28) hours. These hours may be obtained anytime during the two (2) year term.)

(A) Credit for the classroom hour requirement may be obtained from the following:

(i) Colleges or universities;

(ii) Community or junior colleges;

(iii) Real estate appraisal or real estate-related organizations;

(iv) Territorial, state or Federal agencies or commissions;

(v) Proprietary schools; and

(vi) Other providers approved by the Director.

(B) A distance education course may be acceptable to meet the classroom hour requirement, or its equivalent. For continuing education, distance education is defined as any educational process based on the geographical separation of the learner and the instructor (e.g. CD ROM, on-line learning, correspondence courses, video conferencing, etc.). Distance education courses must be approved by the Director and meet one (1) of the following conditions:

(i) The course is presented by an organized group in an instructional setting with a person qualified and available to

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answer questions, provide information, and monitor student attendance, and is a minimum of two (2) classroom hours and meets the requirements for continuing education courses established by the Appraiser Qualifications Board; or

(ii) The course has been presented by an accredited (Commission on Colleges or a regional accreditation association) college or university that offers distance education programs in other disciplines; or

(iii) Has received approval of the International Distance Education Certification Center==s (IDECC) for the course design and delivery mechanism and either (a) approval of the Appraiser Qualifications Board through the AQB Course Approval Program or, (b) the approval of the licensing or certifying jurisdiction where the course is being offered for the content course. Additionally the course must meet the following requirements:

(1) The course is equivalent to a minimum of two (2) classroom hours in length and meets the requirements for real estate appraisal-related courses established by the Appraiser Qualifications Board; and

(2) The learner successfully completes a written examination proctored by an official approved by the presenting college or university or by the sponsoring organization consistent with the requirements of the course accreditation; or if written examination is not required for accreditation, the learner successfully completes the course mechanisms required for the accreditation which demonstrates mastery and fluency (said mechanisms must be presented in a course without an exam in order to be acceptable).

(C) Credit may be granted for educational offerings which cover real estate appraisal-related topics such as those listed below and which are consistent with the purposes of continuing education stated in Subsection (4) below.
(i) Ad valorem taxation; (ii) Arbitration;

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(iii) Business courses related to real estate appraisal; (iv) Construction estimating;
(v) Ethics and standards of professional practice; (vi) Land use planning, zoning and taxation;
(vii) Litigation;

(viii) Management, leasing, brokerage, timesharing; (ix) Property development;
(x) Real estate appraisal (valuations / evaluations); (xi) Real estate financing and investment;
(xii) Real estate law;

(xiii) Real estate litigation;

(xiv) Real estate appraisal-related computer applications;

(xv) Real estate securities and syndication; and

(xvi) Real property exchanges.

(2) Continuing education credit may also be granted for participation, other than as a student, in appraisal educational processes and programs. Examples of activities for which credit may be granted are teaching, program development, authorship of textbooks, or similar activities which are determined to be equivalent to obtaining continuing education.

(3) Beginning January 1, 2005, applicants for renewal must demonstrate successful completion of the seven (7) hour National Uniform Standards of Professional Practice Update Course, or its equivalent. At the minimum this course is to be repeated once every two (2) years. Equivalency shall be determined through the AQB Course Approval Program or by an alternative method established by the AQB. Credit for the Uniform Standards of Professional Appraisal Practice continuing education course will only be awarded when the class is instructed by AQB Certified Instructors, one of whom holds a State Certified Residential or State Certified General designation.

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(4) The purpose of continuing education is to ensure that the appraiser participates in a program that maintains and increases his or her skill, knowledge and competency in real estate appraising.

SOURCE: Added by P.L. 21-28:9. Amended by P.L. 27-115:4.