October 12, 2010 - Appraisal Course Associates has announced that personal property USPAP Update Courses are now available online as continuing education for 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.


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:

1. one for the appraiser who last completed the 15-hour National USPAP Course in 2005;
2. one for the those who last took USPAP in 2006-2007; and
3. 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.