Appraisal Course Associate's Online USPAP Update Course (2012 version) satisfies The Appraisal Foundation's Guidelines

The Appraisal Foundation has published guidelines for course developers who are designing USPAP courses such as ACA's Online USPAP Update Course (2012 version). We are pleased to report that our course satisfies or exceeds all of The Appraisal Foundation's course requirements which state that the course must:

• Provide a professional presentation;
• Include standard educational guides (such as learning objectives, course description, course outline, lesson objectives and reviews, and activities such as discussion examples and quizzes);
• Include the edition of USPAP the course is teaching;
• Include a copy of the of the Personal Property Appraiser Minimum Qualification Criteria, as appropriate; and
• Include a case study (for the 7-Hour National USPAP Update Course equivalent course).
• The course content must be based on the content of the USPAP edition being taught and be consistent with USPAP and other Appraisal Standards Board communications. Developers are advised to be sure to accurately quote USPAP and ASB guidance

This ACA USPAP Update Course has not been rated as equivalent to the 7-hr National USPAP Update Course by The Appraisal Foundation (TAF) as this is a personal property version of the update course. TAF rates only real property appraisal courses and currently has no mechanism for rating other types of appraisal courses such as this update course which has personal property focus.

A Compelling Need to Attend USPAP Update Courses

Real property appraisers are legally required to take TAF’s 7-Hour National USPAP Update Course in order for them to remain licensed by the states. Given the below FAQ  and Q&A, The Appraisal Foundation puts forth compelling reasons for personal property appraisers to also attend USPAP update courses.

FAQ 82 (2010-2011 USPAP) states that “...the Comment to SR [7-1(a)] clearly indicates that appraisers must continuously improve their knowledge and skills. Therefore, some form of continuing education is required...”

In a June 2010 Q&A, the AQB further amplifies on the importance of appraisers attending a USPAP update course as opposed to yet another 15-hour course by stating that a 7-hour 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 National USPAP Course]; thus it does not meet the educational objectives of the 7-Hour course.” (AQB June 2010 Q&A)

Consistent with the objectives of the TAF as stated in the above FAQ and Q&A, ACA online update courses focus on USPAP changes as well as on areas of USPAP that are often misunderstood (and violated) by the appraiser. The Q&A and Real World Scenarios presented throughout ACA’s online update course focus not only on the changes but also on important yet often-misunderstood USPAP-related issues that personal property appraisers frequently encounter in their daily practice.