2006 Minnesota Statutes

82B.12 EXAMINATION REQUIREMENT.
An original license as a licensed real estate appraiser must be issued to a person who
has demonstrated through a written examination process that the appraiser has the following
qualifications:
(1) appropriate knowledge of technical terms commonly used in or related to real estate
appraising, appraisal report writing, and economic concepts applicable to real estate;
(2) understanding the principles of land economics, real estate appraisal processes, and
problems likely to be encountered in gathering, interpreting, and processing of data in carrying
out appraisal disciplines;
(3) understanding the standards for the development and communication of real estate
appraisals as provided in this chapter;
(4) knowledge of theories of depreciation, cost estimating, methods of capitalization, and
the mathematics of real estate appraisal that are appropriate for the classification of license for
which the person is applying;
(5) knowledge of other principles and procedures appropriate for the classification of license
for which the person is applying;
(6) basic understanding of real estate law; and
(7) understanding the types of misconduct and ethical considerations for which disciplinary
proceedings may be started against a licensed real estate appraiser.
History: 1989 c 341 art 1 s 12