October 12, 2010 - Appraisal Course
Associates has announced that personal property USPAP Update
Courses are now available online as continuing education for
personal property appraisers who have already completed the 15-hour National USPAP
course during or subsequent to 2005.
In development for over a year, the online courses are equivalent to
The Appraisal Foundation's 7-hour
National USPAP Update Course, and they have no exam.
ACA is a leading developer of USPAP-centered instructional books and
courses for the personal property appraiser, and is recognized by The
Appraisal Foundation as an approved USPAP course provider for
personal property appraisers.
"The availability of these courses will greatly facilitate
appraisers satisfying the USPAP requirement that they maintain
currency in USPAP," said course author and AQB-certified USPAP
instructor, Bill Novotny.
Completing a USPAP Update Course every two years is critical to
staying up-to-date with USPAP. "What many appraisers fail to
understand is that they are obligated to comply with the current
requirements of USPAP whenever they are acting as an appraiser.
Without knowing and understanding the recent changes, the appraiser
is unable to comply and is at great risk of violating USPAP. In doing
so, appraisers undermine their best defense, i.e., that they have
acted ethically and competently as is required not only by USPAP but
also by all major professional appraisal organizations,"
continued Novotny.
Repeating the 15-hour USPAP
course every five years fails to keep appraisers current in USPAP
Novotny points out that The Appraisal Foundation's Appraisal
Qualification Board (AQB) addresses the importance of appraisers
attending a USPAP
update course every two years by stating that the
7-hour USPAP update course:
"...
concentrates on the most recent changes to USPAP, common problem
areas, and application of USPAP to real world situations. This course
is appropriate for practicing appraisers who already have a baseline
understanding of USPAP, but need to be apprised of recent
developments and updates affecting their appraisal practice. The
15-hour National USPAP Course is geared to the beginning appraiser
who has a limited understanding of USPAP. The coverage and treatment
of changes or emerging issues is not the focus of [the 15-hour]
course; thus it does not meet the educational objectives of the
7-Hour course." (AQB Q&A June 2010)
These ACA Online USPAP Update Courses meet the educational
requirements of The Appraisal Foundation for non-real property online
courses, and that they closely follow the topics and structure of the
TAF's 7-hour National USPAP Course Student Manual.
Three update
courses are now available from ACA:
- one
for the appraiser who last completed the 15-hour National USPAP
Course in 2005;
- one
for the those who last took USPAP in 2006-2007; and
- one
for those who last took USPAP in 2008-2009.
Each course covers all the changes that have been
incorporated into USPAP subsequent to the date the appraiser last
took the 15-hour National USPAP Course, up to and including the most
current 2010-2011 changes. "We anticipate that students
will be able to complete these courses in seven to ten hours
depending on the course version," said Novotny.
In addition to changes to USPAP, ACA's USPAP Update Courses also
address common USPAP violations as well as problematic, often
misunderstood USPAP-related issues that are frequently encountered by
the personal property appraiser. The courses also briefly review the
various parts of USPAP and how USPAP requirements follow the
appraisal process. These issues are addressed by means of Q&A,
FAQ, real world scenarios and, finally, a major case study.
"All appraisers have an obligation to stay up-to-date and to
comply with changes in USPAP requirements, and what better way to do
so than with a quality online USPAP update course which can be taken
conveniently from home or office," said Novotny.
As they have done in the past with other USPAP courses taught by an
AQB-Certified instructor, students will be able to submit their
Certificate of Course Completion to their society as proof of having
completed this important continuing education requirement.
For more information including syllabus and complete course outline,
visit www.AppraisalCourseAssociates.com/lms.
