Posted 5-9-08

On page 8, Before the section "Two Primary Tasks of the Appraiser," add the following paragraph:

While real estate appraisers are required to be tested, licensed and certified by each state in the Union, such is not the case with personal property appraisers. Indeed, anyone can claim to be a personal property appraiser regardless of his or her level of testing, education or experience. This lack of a requirement for even the most basic demonstration of ability has resulted in problem appraisals that The Appraisal Foundation's (TAF) Appraiser Qualifications Board (AQB) addressed in 1998 when it adopted the voluntary Personal Property Appraiser Minimum Qualification Criteria (PPAMQC). See Lesson 7 for further discussion of the PPAMQC.