PP204-OOO - Personal Property Valuation: The Legal and Commercial Environments
Category: Personal Property
Continuing Education: 28.8
Registration
Please see the "Upcoming Classes" tab for class offerings and registration information.
Course Description
This course introduces students to compliance with laws and
regulations in order for them to conduct their Personal Property appraisal
practices. Using the information learned in the previous courses, participants
expand their understanding of professional standards and the ethical
requirements of an appraiser. The class allows students to utilize their
analysis techniques for concluding Fair Market Value in an appraisal
assignment. Further insight into the auction market, the insurance industry, and
how tort law affects appraisers is covered in this class. PP204 also examines
the legal court precedents on which many appraisal practices and regulations are
based. As part of the class, students develop a Fair Market Value oral
appraisal report for the property that they appraised in
PP203.
Instructional Methods
Instructor will present
material through lecture and PowerPoint as well as classroom exercises and group
discussions. Overnight assignments will be given for review and discussion.
Course Audience
This course provides individuals wishing to become appraisers, or related
professionals interested in augmenting their valuation skills, with the fourth
course introducing the concepts necessary for appraisal practice. Candidates who
have previously successfully completed this course and designated appraisers may
wish to retake this course to stay informed about the current laws and
regulations related to appraisal practice and Fair Market Value
requirements.
Required Readings
Please obtain and review the required
and recommended readings prior to attending class.
Agenda
Day One will include introductions of Instructor and Participants. The
remaining days will begin with a review quiz.
The class will have a morning, lunch and afternoon break. A review will take
place prior to the exam.
Learning Outcomes
Upon completion of this course, students should be able to:
- Explain how court cases that have established
precedents in appraisal practice;
- Demonstrate the expanded use of Fair Market Value;
- Present an appraisal in comprehendible terms that work with the
insurance industry;
- Discuss the Ethical and professional standards in USPAP;
- Cite the other functions of an appraiser; and
- Provide an expanded look/ explanation of the auctions
marketplace.