License: Licensed Certified Residential Real Estate Appraiser

MS Board of Appraisers Mississippi Real Estate Commission external site

P.O. Box 12685

Jackson, MS 39236

(601) 321-6970

General information, terms and definitions: AQB: Appraiser Qualifications Board The Appraisal Foundation: National organization authorized by Congress to set standards and qualifications for real estate appraisers. National Uniform Licensing and Certification Examination: the examination required by the Appraisal Foundation to qualify for license or certification in real estate appraiser. The exam consists of 125 questions, with 15 being pre-test questions and 110 questions being scored. Each certification level (Licensed Residential, Certified Residential and Certified General Appraiser) has a separate exam. Mississippi State Exam consists of 50 multiple choice questions. The exam must be taken for each level of certification. The exam is taken after the applicant passes the national exam. Uniform Standards of Professional Appraisal Practice: The generally recognized ethical and performance standards for the appraisal profession in the United States. "Appraisal" means an analysis, opinion or conclusion prepared by a real estate appraiser relating to the nature, quality, value or utility of specified interests in, or aspects of, identified real estate or identified real property performed in accordance with the Uniform Standards for Professional Appraisal Practice. "Real estate or real property" means an identified parcel or tract of land, with improvements, and includes easements, rights-of-way, undivided or future interest, or similar rights in a tract of land, but does not include mineral rights, timber rights, growing crops, water rights, or similar interests severable from the land when the transaction does not involve the associated parcel or tract of land. Licensure Requirements: 1. Education: a) Meet all education requirements as established by the Appraiser Qualifications Board (AQB): 200 hours of qualifying education. b) College-level education or requisite experience. There are six (6) Options: Certified Residential Appraiser College-Level Education or Requisite Experience: OPTION #1: Bachelor’s degree from an accredited college or university in any field of study. OPTION #2: Associate’s degree from an accredited college or university in a field of study related to: a. Business Administration; b. Accounting; c. Finance; d. Economics; or e. Real Estate OPTION #3: Successful completion of 30 semester hours of college-level courses that cover each of the following specific topic areas and hours: a. English Composition (3 semester hours); b. Microeconomics (3 semester hours); c. Macroeconomics (3 semester hours); d. Finance (3 semester hours); e. Algebra, Geometry, or higher mathematics (3 semester hours); f. Statistics (3 semester hours); g. Computer Science (3 semester hours); h. Business or Real Estate Law (3 semester hours); and i. Two elective courses in any of the topics listed above or in accounting, geography, agricultural economics, business management, or real estate (3 semester hours each). OPTION #4: Successful completion of 30 semester hours of College Level Examination Program (CLEP ®) examinations from each of the following subject matter areas: o College Algebra (3 semester hours); a. College Composition (6 semester hours); b. College Composition Modular (3 semester hours); c. College Mathematics (3 semester hours); d. Principles of Macroeconomics (3 semester hours); e. Principles of Microeconomics (3 semester hours); f. Introductory Business Law (3 semester hours); and g. Information Systems (3 semester hours). OPTION #5: Any combination of Options #3 and #4 that ensure coverage of all topics and hours identified in Option #3. OPTION #6: As an alternative to college level education, individuals who have held a Licensed appraiser credential for a minimum of five (5) years may qualify for a Certified Residential credential if they have no record of any adverse, final, and non-appealable disciplinary action affecting the Licensed appraiser’s eligibility to engage in appraisal practice within the five (5) years immediately preceding the date of application for a Certified Residential credential. 2. Experience: Meet all experience requirements as established by the AQB: 1,500 hours in no fewer than twelve (12) months. 3. Examination: Pass required examinations: State exam and National exam. The Mississippi State Exam consists of 50 multiple choice questions. The exam must be taken for each level of certification. The exam is taken after the applicant passes the national exam. 4. Fingerprint-based Background Check.