Registration
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Course Description
What is USPAP?
USPAP stands for "The Uniform Standards of Professional
Appraisal Practice" and is published by The Appraisal Foundation (TAF)
headquartered in Washington, DC. In 1989, Congress enacted the Financial
Institutions Reform, Recovery, and Enforcement Act (FIRREA), which authorized
TAF as "THE" source of appraisal standards and appraiser qualifications. "USPAP
is the generally recognized ethical and performance standards for the appraisal
profession in the United States" and was adopted by Congress in 1989.
USPAP contains standards for all types of appraisal services, including real
estate, personal property, business and mass appraisal. USPAP is updated
every two years providing appraisers with the information they need to
deliver unbiased and thoughtful opinions of value.
What is the 7-Hour USPAP Update Course for Personal
Property?
The 7-Hour USPAP Update Course for Personal
Property will familiarize users of USPAP Standards 7 and 8 (GJ, MTS and PP)
with recent, significant revisions to USPAP that impact every practicing
appraiser in the personal property arena. In addition, the course confronts some
of the regularly misunderstood concepts in USPAP and reviews their application
through the use of other communications published by the Appraisal Standards
Board. This course will meet current USPAP continuing education requirements
established by the Appraisal Foundation for GJ, MTS and PP appraisers.
USPAP Book and Manual
Registration for this course includes a current electronic copy of the
USPAP book and student manual.
Who Should Take this Course?
Personal Property appraisers (to include MTS and GJ) are
expected to be current with USPAP. Those personal property appraisers who
are new to the profession, or those who have never before taken USPAP, must
start with a 15-hour PP USAPAP Course and Exam. From there, PP, MTS and GJ appraisers may meet their USPAP continuing education
requirements by either completing a 7-hour USPAP Update Course or
the 15-hour course and exam each time a new version
of USPAP is released (every two (2) calendar years). In
order to be eligible to take the 2020-2021 7-hour PP USPAP
Update Course, you need to have completed the 2018-2019
7-hour USPAP Update Course or the 2018-2019 15-hour PP USPAP Course and Exam.
If you did not take either of these courses, you must take
the 2020-2021 15-Hour USPAP Course and Exam to get
back on track. Then you may start taking the 7-hour update courses every
two (2) calendar years going forward.
Important Note: This course does not meet the Appraisal
Foundation’s USPAP continuing education requirements for Real Property appraisers. This course will not be accepted by state real property licensing boards or for
CE credit for state licensing of real property appraisers.