37-54-203. Course of study. A course of study acceptable under 37-54-202 must include the following subjects:
     (1) technical terms commonly used in or related to:
     (a) real estate appraisal;
     (b) appraisal report writing; and
     (c) economic concepts applicable to real estate;
     (2) basic principles of land economics and real estate appraisal;
     (3) problems likely to be encountered in gathering, interpreting, and processing data required in the real estate appraisal process;
     (4) standards for the development and communication of real estate appraisals as provided in this chapter;
     (5) ethical rules that a real estate appraiser is required to observe;
     (6) (a) theories of depreciation and cost estimating;
     (b) methods of capitalization; and
     (c) the mathematics of real estate appraisal;
     (7) basic real estate law; and
     (8) types of misconduct for which disciplinary proceedings may be initiated against a licensed real estate appraiser, as set forth in this chapter.

     History: En. Sec. 7, Ch. 409, L. 1991.