What is the Course Approval Program (CAP) and how does it work?

The AQB Course Approval Program (CAP) is a voluntary program designed to: 1) encourage the development of high quality real estate appraisal education; and 2) centralize the review process and alleviate the administrative burden on state regulatory agencies and education providers in obtaining multiple jurisdiction approvals.

Under the program, submitted courses are reviewed in depth by a qualified member of the AQB Course Review Panel. Course reviewers are independent appraisal educators who have extensive experience in course development, review or instruction in the real estate or appraisal field and have substantial education and/or experience in the appraisal field (an overview of the reviewer’s backgrounds will be available in a secure area of The Appraisal Foundation’s web site). Courses also receive a summary review by an AQB Board Member to assure objectivity and quality control. The AQB Board Member then presents a recommendation to the AQB for approval or rejection of the course. USPAP courses are approved for one year intervals while all others are approved for three years. States are encouraged to accept CAP-approved courses for their education requirements.

How accepted is the AQB Course Approval Program among the states and what is the fee structure?

Approximately half of all states currently accept courses approved through the AQB Course Approval Program. The fees for the review of Qualifying Education courses are as follows:

Courses 15 hours in length $1,000 (for three-year approval*)

Courses 16-29 hours in length $1 ,200 (for three-year approval*)

Course over 30 hours in length $1,400

(for three-year approval*)

*USPAP courses ore approved for one year.

A listing of courses approved to date, Course Approval

Program Policies, Procedures and Criteria as well as an

application can be found on the web site of The Appraisal

Foundation (www.appraisalfoundation .org).

What benefits does the Course Approval Program provide states?

The CAP can be used to assist states in their approval process by conducting the reviews required of courses and posting the material to the web site. Since many states do not have the resources and/or expertise to conduct the required reviews, this should provide a great service. The CAP also requires the completion of the course matrix which will assist states to allocate education hours between Required Core Curriculum topic areas.

To date, over 1 00 courses have been approved through the Course Approval Program.

What changes have been made in the Course Approval Program and how can it assist the states in approving courses?

The Course Approval Program has recently been revised to make it more user-friendly by eliminating duplicative material, simplifying the application process and establishing specific review time frames. The application has been revised to address the needs of most, if not all of the states’ requirements. Having a more universal application should eliminate the need for providers to complete state specific forms. The course matrix referenced above is required for all qualifying education courses submitted to the CAP. The timeframe for completing a review of any course that has been submitted is 75 days from the date of the receipt of the application. The Appraisal Foundation is also moving forward in establishing a secure web site which will contain approved course materials for states to access. This should reduce or eliminate the need for educational providers to submit hard copy material to every state for approval. The states will be able to print whatever information is needed for their files from the web site.

In order for courses to be valid under the new Criteria, will they be required to be approved through the AQB’s Course Approval Program?

No, states may still approve courses for qualifying and continuing education.

Can distance education courses be approved through the AQB’s Course Approval Program?

Yes, distance education courses are eligible for CAP approval. However, distance education courses not offered by an accredited college or university offering distance education courses in other disciplines, must have their delivery mechanism approved by the International Distance Education Certification Center (IDECC) prior to receiving CAP approval.