N.Y. Executive Law 160-I – Examination requirement
§ 160-i. Examination requirement. An original certification as a state certified real estate appraiser or an original license as a state licensed real estate appraiser shall not be issued to any person who has not demonstrated through a written examination process that he or she possesses the following:
Terms Used In N.Y. Executive Law 160-I
- Appraisal: A determination of property value.
- Real estate: means an identified parcel or tract of land, including improvements, if any. See N.Y. Executive Law 160-A
- real estate appraisal: means an analysis, opinion or conclusion relating to the nature, quality, value or utility of specified interests in, or aspects of, identified real estate. See N.Y. Executive Law 160-A
- State certified real estate appraiser: means a person who develops and communicates real estate appraisal and who holds a current, valid certificate issued to him or her for either general or residential real estate under the provisions of this article. See N.Y. Executive Law 160-A
- State licensed real estate appraiser: means a person who develops and communicates real property appraisals and who holds a current valid license issued to him or her for residential real property under the provisions of this article. See N.Y. Executive Law 160-A
1. Appropriate knowledge of technical terms commonly used in or related to real estate appraising, appraisals, report writing and economic concepts applicable to real estate;
2. Understanding of the principles of land economics, real estate appraisal processes, and of problems likely to be encountered in gathering, interpreting and processing of data in carrying out appraisal disciplines;
3. Understanding of the standards for the development and communication of real estate appraisals as provided in this article;
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. 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 real estate appraiser or a state licensed real estate appraiser, as set forth in this article.