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Michigan Department of Energy, Labor and Economic Growth Bureau of Commercial Services Testing, Education & Program Services P.O. Box 30018, Lansing, MI 48909 517-241-9231 Fax: 517-241-7539 www.michigan.gov/bcstesting

APPLICATION CHECKLIST FOR COURSE APPROVAL FOR REAL ESTATE APPRAISER CONTINUING EDUCATION AND PRELICENSURE COURSES The following checklist is for your use in assembling and submitting the materials required for your application to offer courses. You do not have to return this form. Real Estate Appraiser Continuing Education and Prelicensure Course Approval Application and Notice. (BCS/LAP-100) Topic Matrix (Required for all Prelicensure Courses) Proprietary School Unit License (Proprietary Schools Only) Timed Course Outline & Detailed Course Description ­ Must include: Sponsor Name, Address and Telephone Number Name of the Subject(s) to be taught Number of minutes each subject is given, inserting number of minutes for any breaks or lunch ­ (Minimum of one [1], 15-minute break is mandatory for each two hours of instruction) Detailed Course Description Written summary/description of course (Instructor notes, Powerpoint, etc.) List of textbooks and/or reference materials to be used IDECC Certification (Distance Courses) Required for all distance education courses. AQB Approval If course is AQB approved submit a copy of approval letter. Sample Certificate of Completion ­ Must contain, at a minimum: The name of the student The name of the sponsor & sponsor number The name of the course attended The number of classroom hours completed by the student. The date of course completion Signature of Sponsor Coordinator or Instructor

BCS/LAP-100 (01/09) Michigan Department of Energy, Labor & Economic Growth Bureau of Commercial Services Testing, Education & Program Services P.O. Box 30018, Lansing, MI 48909 517-241-9231 Phone; Fax: 517-241-7539 www.michigan.gov/bcstesting

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REAL ESTATE APPRAISER CONTINUING EDUCATION AND PRELICENSURE COURSE APPROVAL APPLICATION AND NOTICE
AUTHORITY: P.A. 299 of 1980, as amended COMPLETION: Mandatory PENALTY: Failure to complete may result in denial of your application

Instructions: Sponsor should complete the application, Part A, B, C, and D where applicable and submit all required documentation. Upon approval, a copy of this form will be returned with part E completed for the Sponsor's records. If you are requesting approval for a prelicensure course, complete the Topic Matrix (BCS/LAP-100A) that is attached.

A. COURSE INFORMATION (Complete one form for each course offered; information listed will appear on the Department website.)
Course Name Sponsor Name

Web Address

E-mail Address

Number of Classroom Hours

Course Type Con-Ed

Online (Complete Prelicensure Topic Matrix) Nonprofit Assoc. Proprietary School

Sponsor Telephone Number

MI Sponsor Number, If Known

Sponsor Type

College or University Government Agency

Proprietary School State Approval MI License #: Complete Address of Sponsor Out-Of-State Submit copy of approval to operate

Contact Person/Coordinator

Contact Person Telephone Number

City, State, Zip Code

B. ATTENDANCE POLICY
How is attendance monitored? Sign In Other - Please describe:

Is there a class makeup policy? If yes, please describe. Yes No

C. INSTRUCTOR QUALIFICATIONS
Instructor Name(s) License Type License No. If not an appraiser, explain qualifications

D. EXAM INFORMATION (Optional except for Prelicensure Courses)
Describe method of grading (include passing/failing scores) Describe other standards student must meet to pass the course

E. DEPARTMENT APPROVAL (For Office Use Only)
Sponsor Number Can Be Applied Toward Prelicensure Con-Ed Course No. Assigned Hours Approved Approval Signature Date Approved Both

Course Type - Prelicensure Only Res Non-Residential

DLEG is an equal opportunity employer/program. Auxiliary aids, services and other reasonable accommodations are available upon request to individuals with disabilities.

BCS/LAP-100A (01/09) Michigan Department of Energy, Labor & Economic Growth Testing, Education & Program Services P.O. Box 30018, Lansing, MI 48909 (517) 241-9231 FAX (517) 241-7539 www.michigan.gov/bcstesting Page 1 of 7

TOPIC MATRIX

General Matrix Model Revised AQB Real Property Appraiser/Criteria Core Curriculum Guide Note 1 Curriculum Content GN-1 Subtopics Basic Appraisal Principles (30 Hours) A. RP Concepts & Characteristics 1 Basic Real Property Concepts 2 Real Property Characteristics 3 Legal Description (Physical) B. Legal Consideration 1 Forms of Ownership 2 Public and Private Controls 3 Real Estate Contracts 4 Leases C. Influences on Real Estate Values 1 Governmental 2 Economic 3 Social 4 Environmental, Geographic & Physical D. Types of Value 1 Market Value 2 Other Value Types E. Economic Principles 1 Classic Economic Principles 2 Application & Illustration of Economic Principles F. Overview of Real Estate Markets & Analysis 1 Market Fundamentals, Characteristics & Definitions 2 Supply Analysis 3 Demand Analysis 4 Use of Market Analysis G. Ethics & How They Apply in Appraisal Theory & Practice Exam Hours Qualification Criteria Hours Appraiser Trainee Req. Comp. Bal. 30 Licensed Residential Req. Comp. Bal. 30 Certified Residential Req. Comp. Bal. 30 Certified General Req. Comp. Bal. 30

BCS/LAP-100A (01/09) Michigan Department of Energy, Labor & Economic Growth Testing, Education & Program Services P.O. Box 30018, Lansing, MI 48909 (517) 241-9231 FAX (517) 241-7539 www.michigan.gov/bcstesting Page 2 of 7

TOPIC MATRIX

General Matrix Model Revised AQB Real Property Appraiser/Criteria Core Curriculum Guide Note 1 Curriculum Content GN-1 Subtopics Basic Appraisal Procedures (30 Hours) A. Overview of Approaches to Value B. Valuation Procedures 1 Defining the Problem 2 Collecting & Selecting Data 3 Analyzing 4 Reconciling & Final Value Opinion 5 Communicating the Appraisal C. Property Description 1 Geographic Characteristics of the Land/Site 2 Geologic Characteristics of the Land/Site 3 Location & Neighborhood Characteristics 4 Land/Site Considerations for Highest & Best Use 5 Improvements - Architectural Styles & Types of Construction D. Residential Application Exam Hours Qualification Criteria Hours Appraiser Trainee Req. Comp. Bal. 30 Licensed Residential Req. Comp. Bal. 30 Certified Residential Req. Comp. Bal. 30 Certified General Req. Comp. Bal. 30

The 15-Hour National USPAP Course (or its equivalent) A. Preamble and Ethic Rule B. Standard 1 C. Standard 2 D. Standards 3 to 10 E. Statements & Advisory Opinions Exam Hours

15

15

15

15

BCS/LAP-100A (01/09) Michigan Department of Energy, Labor & Economic Growth Testing, Education & Program Services P.O. Box 30018, Lansing, MI 48909 (517) 241-9231 FAX (517) 241-7539 www.michigan.gov/bcstesting Page 3 of 7

TOPIC MATRIX

General Matrix Model Revised AQB Real Property Appraiser/Criteria Core Curriculum Guide Note 1 Curriculum Content GN-1 Subtopics Residential Market Analysis & Highest & Best Use (15 Hours) A. Residential Markets & Analysis 1 Market Fundamentals, Characteristics & Definitions 2 Supply Analysis 3 Demand Analysis 4 Use of Market Analysis B. Highest & Best Use 1 Test Constraints 2 Application of Highest & Best Use 3 Special Considerations 4 Market Analysis 5 Case Studies Exam Hours Qualification Criteria Hours Appraiser Trainee Req. Comp. Bal. Licensed Residential Req. Comp. Bal. 15 Certified Residential Req. Comp. Bal. 15 Certified General Req. Comp. Bal.

Residential Appraiser Site Valuation & Cost Approach (15 Hours) A. Site Valuation 1 Methods 2 Case Studies B. Cost Approach 1 Concepts & Definitions 2 Replacement/Reproduction Cost New 3 Accrued Depreciation 4 Methods of Estimating Accrued Depreciation 5 Case Studies Exam Hours

15

15

BCS/LAP-100A (01/09) Michigan Department of Energy, Labor & Economic Growth Testing, Education & Program Services P.O. Box 30018, Lansing, MI 48909 (517) 241-9231 FAX (517)241-7539 www.michigan.gov/bcstesting Page 4 of 7

TOPIC MATRIX

General Matrix Model Revised AQB Real Property Appraiser/Criteria Core Curriculum Guide Note 1 Curriculum Content GN-1 Subtopics Residential Sales Comparison & Income Approaches (30 Hours) A. Valuation Principles & Procedures-Sales Comparison Approach B. Valuation Principles & Procedures-Income Approach C. Finance & Cash Equivalency D. Financial Calculator Introduction E. Identification, Derivation & Measurement of Adjustments F. Gross Rent Multipliers G. Partial Interests H. Reconciliation I. Case Studies & Applications Exam Hours Qualification Criteria Hours Appraiser Trainee Req. Comp. Bal. Licensed Residential Req. Comp. Bal. 30 Certified Residential Req. Comp. Bal. 30 Certified General Req. Comp. Bal.

Residential Report Writing & Case Studies (15 Hours) A. Writing & Reasoning Skills B. Common Writing Problems C. Form Reports D. Report Options & USPAP Compliance E. Case Studies Exam Hours

15

15

Statistics, Modeling & Finance (15 Hours) A. Statistics B. Valuation Models (AVM's & Mass Appraisal) C. Real Estate Finance Exam Hours

15

15

BCS/LAP-100A (01/09) Michigan Department of Energy, Labor & Economic Growth Testing, Education & Program Services P.O. Box 30018, Lansing, MI 48909 (517) 241-9231 FAX (517) 241-7539 www.michigan.gov/bcstesting Page 5 of 7

TOPIC MATRIX

General Matrix Model Revised AQB Real Property Appraiser/Criteria Core Curriculum Guide Note 1 Curriculum Content GN-1 Subtopics Advanced Residential Applications & Case Studies (15 Hours) A. Complex Property, Ownership & Market Conditions B. Deriving & Supporting Adjustments C. Residential Market Analysis D. Advanced Case Studies Exam Hours Qualification Criteria Hours Appraiser Trainee Req. Comp. Bal. Licensed Residential Req. Comp. Bal. Certified Residential Req. Comp. Bal. 15 Certified General Req. Comp. Bal.

General Appraiser Market Analysis & Highest & Best Use (30 Hours) A. Real Estate Markets & Analysis 1 Market Fundamentals, Characteristics & Definitions 2 Supply Analysis 3 Demand Analysis 4 Use of Market Analysis B. Highest & Best Use 1 Test Constraints 2 Application of Highest & Best Use 3 Special Considerations 4 Market Analysis 5 Case Studies Exam Hours General Appraiser Sales Comparison Approach (30 Hours) A. Value Principles B. Procedures C. Identification & Measurement of Adjustments D. Reconciliation E. Case Studies Exam Hours

30

30

BCS/LAP-100A (01/09) Michigan Department of Energy, Labor & Economic Growth Testing, Education & Program Services P.O. Box 30018, Lansing, MI 48909 (517) 241-9231 FAX (517) 241-7539 www.michigan.gov/bcstesting Page 6 of 7

TOPIC MATRIX

General Matrix Model Revised AQB Real Property Appraiser/Criteria Core Curriculum Guide Note 1 Curriculum Content GN-1 Subtopics General Appraiser Site Valuation & Cost Approach (30 Hours) A. Site Valuation 1 Methods 2 Case Studies B. Cost Approach 1 Concepts & Definitions 2 Replacement/Reproduction Cost New 3 Accrued Depreciation 4 Methods of Estimating Accrued Depreciation 5 Case Studies Exam Hours Qualification Criteria Hours Appraiser Trainee Req. Comp. Bal. Licensed Residential Req. Comp. Bal. Certified Residential Req. Comp. Bal. Certified General Req. Comp. Bal. 30

General Appraiser Income Approach (60 Hours) A. Overview B. Compound Interest C. Lease Analysis D. Income Analysis E. Vacancy & Collection Loss F. Estimating Operating Expenses & Reserves G. Reconstructed Income & Expense Statement H. Stabilized Net Operating Income Estimate I. Direct Capitalization J. Discounted Cash Flow K. Yield Capitalization L. Partial Interests M. Case Studies Exam Hours

60

BCS/LAP-100A (01/09) Michigan Department of Energy, Labor & Economic Growth Testing, Education & Program Services P.O. Box 30018, Lansing, MI 48909 (517) 241-9231 FAX (517) 241-7539 www.michigan.gov/bcstesting Page 7 of 7

TOPIC MATRIX

General Matrix Model Revised AQB Real Property Appraiser/Criteria Core Curriculum Guide Note 1 Curriculum Content GN-1 Subtopics General Appraiser Report Writing & Case Studies (30 Hours) A. Writing & Reasoning Skills B. Common Writing Problems C. Report Options & USPAP Compliance D. Case Studies Exam Hours Qualification Criteria Hours Appraiser Trainee Req. Comp. Bal. Licensed Residential Req. Comp. Bal. Certified Residential Req. Comp. Bal. Certified General Req. Comp. Bal. 30

Appraisal Subject Matter Electives (20 Hrs Cert. Res.) (30 Hrs Cert. Gen.)

20

30

Exam

TOTAL HOURS

75

150

200

300