KREAB Criteria FAQ
Revised: October 2019
Page 1 of 9
How to Enter the Real Property Appraisal Profession in Kentucky
The following is intended to provide basic information for individuals who are considering entry
into the real property appraisal profession in the Commonwealth of Kentucky. For more specific
information about the requirements, please contact the Kentucky Real Estate Appraisers Board
@ 859-623-1658, Fax 859-623-2598, or visit the web site at www.kreab.ky.gov.
The Kentucky Real Estate Appraisers Board was created in 1992 as a voluntary act by the
Kentucky General Assembly in compliance with the provisions of the Financial Institutions
Reform, Recovery, and Enforcement Act (Title XI). The five (5) member Board consists of two
appraisers, two active lenders, and one consumer. The Board staff consists of a Staff Assistant,
and Investigator.
What is the demand for qualified real property appraisers?
There is a wide array of clients who use real estate appraisers. For instance, lenders use them
for loan collateral purposes; lawyers use them in property disputes, such as divorces; insurance
companies use them to assist in determining the value of the property to be insured; and
property owners may use them when appealing tax assessments, for estate purposes and
estimating a property’s value when buying or selling real estate.
Do I need to obtain a credential or license in order to appraise real property?
Federal law requires all individuals appraising properties in a federally related loan transaction
to be either state licensed or certified. The appraisal law in Kentucky contains language that
requires individual appraisers to have a license or certification only when appraising properties
for loans that will be granted by federally insured lenders that are considered federally related
transactions, real estate related loan transactions for Government Sponsored Enterprises, or for
other clients that require the services of a state licensed or certified real property appraiser.
If I become a Kentucky credentialed real property appraiser, will I be expected to
comply with the KREAB statutes and regulations if the purpose of the assignment is
not intended for federally related transactions or real estate related loan
transactions?
Yes. Licensed or certified credential holders shall comply with KRS Chapter 324A and the
regulations of 201 KAR Chapter 30 regardless of the appraisal assignment type or the intended
use.
Who regulates real property appraisers in Kentucky?
The Kentucky Real Estate Appraisers Board is given authority by KRS Chapter 324A and the
administrative regulations of 201 KAR Chapter 30 to comply with the mission of real property
appraisal law. In addition to issuing licenses and certificates, the Board is also responsible for
disciplining appraisers. Title XI requires the Board laws and regulations to comply with the
minimum criteria of the Appraiser Qualifications Board and the minimum appraisal Standards
promulgated in the Uniform Standards of Appraisal Practice (USPAP). The Kentucky Board
received regular oversight from the Appraisal Subcommittee (ASC), made up of members of the
Federal Financial Institutions Examination Council (FFIEC).
KREAB Criteria FAQ
Revised: October 2019
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What are the minimum qualifications I will need in order to become a state licensed or
certified appraiser in the Commonwealth of Kentucky?
The Appraiser Qualifications Board of The Appraisal Foundation sets the qualifications for real
property appraisers. The qualifications cover education, experience, examination and
continuing education. For example, to become a Kentucky credentialed real property appraiser
you will need to first complete a specific course curriculum of topics in real property appraisal
education courses. The Associate credential (required to begin training experience) requires a
minimum of 90 classroom hours of appraisal instruction, a 7 hour Mandatory KY Supervisor and
Associate Course and annually complete 14 hours of continuing education. The following table
lists the education, examination, and experience requirements for each of the credentials
recognized by the Kentucky Real Estate Appraisers Board. The information is contained in
administrative regulation 201 KAR 30:190:
Figure 1- Credentials and Respective Qualifying Requirements
Credential
Education
Requirements
Experience
Requirements
Examination
Requirements
College
Requirements
Associate
90 Hours*
7 hour KY Mandatory
Supervisor/Associate
Course
None
None
None
Licensed
Residential
150 Hours*
1,000 Hours
in no
fewer than 6-Months
AQB
–
Licensed
Residential
None
Certified
Residential
200 Hours*
1,500 Hours
in no
fewer than 12-Months
AQB
–
Certified
Residential
See Below Options**
Certified General
300 Hours*
3,000 Hours in no
fewer than 18
months, of which
1,500 hours must by
in non-residential
appraisal work
AQB
–
Certified
General
Bachelor’s
degree or
higher
*Refer to table on Page 6 for specific course titles.
**College Level Education for Certified Residential Six (6) options
Option 1 – Bachelor’s Degree in any field of study
Option 2 - Associates Degree in a field of study related to:
Business Administration
Accounting
Finance
Economics; or
Real Estate
KREAB Criteria FAQ
Revised: October 2019
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Option 3 – Successful completion of 30 semester hours of college-level courses in
each of the following specific topic areas and hours:
English Composition (3 hours)
Microeconomics (3 hours)
Macroeconomics (3 hours)
Finance (3 hours)
Algebra, Geometry, or Higher Math (3 hours)
Statistics (3 hours)
Computer Science (3 hours)
Business Law or Real Estate Law (3 hours)
Two elective courses in any of the above topics or in Accounting,
Geography, Agricultural Economics, Business Management or Real
Estate (3 hours)
Option 4 – Successful completion of at least 30 semester hours of College Level
Examination Program (CLEP) examinations that cover each of the specific topic
areas in: (See below)
Figure 2- College Level Examination Program Examinations
CLEP EXAMS
CLEP
SEMESTER
HOURS
GRANTED
APPLICABLE COLLEGE COURSES
College Algebra
3
Algebra, Geometry, Statistics, o
r higher
mathematics
College Composition
6
English Composition
College Composition Modular
3
English Composition
College Mathematics
6
Algebra, Geometry, Statistics, or higher
mathematics
Principles of Macroeconomics
3
Macroeconomics or Finance
Princi
ples of Microeconomics
3
Microeconomics or Finance
Introductory Business Law
3
Business Law or Real Estate Law
Information Systems
3
Computer Science
Option 5 – Any combination of Option 3 and Option 4 that includes all of the topics
identified in Option 3.
Option 6 – No college-level education required. This option applies only to
appraisers who have held a Licensed Residential credential for a minimum of five
(5) years and have no record of any adverse, final, and non-appealable disciplinary
action affecting the Licensed Residential appraiser’s legal eligibility to engage in
appraisal practice within the five (5) years immediately preceding the date of
application for a Certified Residential credential.
KREAB Criteria FAQ
Revised: October 2019
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Do I need a criminal background check?
Yes. KRS 324A.100 requires a national and state criminal background check for each initial
applicant to be licensed or certified as a real property appraiser. This requirement does not
include any appraiser applying for a credential in Kentucky that holds a current
license/certification in another state. This requirement also does not apply to an Active
Associate applying for Licensed Residential, Certified Residential, or Certified General.
Do I need a college degree or to have completed college level courses to become a
Kentucky licensed or certified real property appraiser?
Please refer to the above table, which lists the applicable college information.
Am I required to complete the KY 7 hour Supervisor Associate Course?
Yes. It is mandatory. A first time supervisor and a new associate shall attend a Kentucky-specific
seven (7) hour board-approved course in supervision practices prior to beginning supervision or
training. To remain eligible to provide supervision, a supervisor shall attend the board-approved
course every three (3) years. To continue logging creditable experience, an associate shall
attend the board-approved course every three (3) years.
How can I find out about available educational offerings in appraising?
Please visit the Kentucky Real Estate Appraisers Board web site at www.kreab.ky.gov for a list of
approved appraisal education providers and a list of approved education courses. The Kentucky
Board will also recognize courses approved by appraiser regulatory agencies in other states on a
case-by-case basis. It is the responsibility of the student seeking education approval to provide
the KREAB with the course description, the course daily time outline, a completion certificate
indicating that the student successfully completed the course, including successful completion
of a closed book examination.
How can I gain the necessary experience?
The Kentucky Real Estate Appraisers Board requires any person initially entering the field of real
property appraising to 1) complete the 90 hours of classroom instruction in appraisal courses
listed in the above table, 2) apply to the KREAB for an Associate Real Property Appraiser
credential; 3) complete the KY mandatory 7 hour Supervisor and Associate course; and 4) to
work under the supervision of a Kentucky certified residential or certified general real property
appraiser. See Figure 1, Column 2 on page two for respective duration requirements.
What must I have to do to qualify to sit for the AQB national examination?
To qualify to take the state examination, you must complete all qualifying appraisal classroom
education that is listed in the above table for the appropriate credential, the college
requirement, if applicable, and have acquired the necessary experience required for the
appropriate credential.
How much time should I allocate to complete the examination?
Depending on the classification you are seeking to obtain, the examination might last between 4
to 6 hours for licensed residential and certified residential, and between 6 to 8 hours for
certified general. Each of the examinations will have a total of 150 questions that will be scored.
KREAB Criteria FAQ
Revised: October 2019
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Is it required that I complete the college degree or course requirements prior to sitting
for the AQB national examination?
Yes. All education and experience requirements must be completed before sitting for the AQB
national examination.
Do appraisers have to follow any set of performance standards or guidelines?
Licensed and Certified real property appraisers in the Commonwealth of Kentucky are required
to follow the statutes within KRS Chapter 324A and the administrative regulations in 201 KAR
Chapter 30. Included in KRS Chapter 324A is a requirement that appraiser’s licensed and
certified in Kentucky must also follow the Uniform Standards of Professional Appraisal Practice
when completing assignments of appraisal, appraisal review and appraisal consulting within the
Commonwealth of Kentucky.
May I appraise any type of real property once I become state licensed or certified?
The Kentucky Real Estate Appraisers Board administrative regulation 201 KAR 30:190 recognizes
the following credentials of real property appraiser within the Commonwealth of Kentucky:
1. Associate – The scope of practice for the Kentucky Licensed Associate classification is
the appraisal of those properties that the supervising certified appraiser is permitted, by
his/her current credential assuming proper supervision by the supervising appraiser.
2. Licensed Residential - May appraise non-complex 1-4 unit residential properties with a
transaction value less than $1,000,000 and complex 1-4 residential units having a
transaction value less than $250,000.
3. Certified Residential – May appraise 1-4 unit residential properties without regard to
transaction value or complexity.
4. Certified General – May appraise all types of property. Although an appraiser might
hold a general certification, competency is required.
I previously held a Kentucky credential, what will I be required to complete if I wish
now to apply for the credential level I originally held?
Any person who has not held a credential within six months of the application date for a
Kentucky Real Property Appraiser credential will be expected to comply with 1) all items of
appraisal education (See Figure 1 on page 2), 2) satisfy all experience requirements; 3)
successfully complete the AQB examination, and 4) complete the college courses or applicable
degree. Additionally, as of July 1, 2003 experience for an initial applicant can be considered
credible only while the applicant was working under the direct supervision of a Kentucky
certified real property appraiser.
What will be the Kentucky Real Estate Appraisers Board expectations for an applicant
who is licensed or certified and is now applying for another credential category?
KREAB Criteria FAQ
Revised: October 2019
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An applicant who holds a credential and applies to the Kentucky Board for a different credential
will be expected to 1) comply with all additional appraisal education that is required for the
applicable credential level, 2) satisfy all college education requirements, 3) successfully
complete the applicable AQB national examination, and 4) complete all experience expectations
for the credential level.
The table on the following page contains the initial education course topics and classroom hour
requirements for each Kentucky real property appraiser license or certified credential, and the
added education, examination and experience requirements when moving from one credential
to another under the current criteria requirements.
If I am certified in another State and move to Kentucky and apply for the same
credential, will I be expected to comply with the Kentucky qualifying education,
examination, and experience requirements?
No. If an individual applies to the Kentucky Real Estate Appraisers Board while holding a real
property appraiser credential from another State, that individual will be granted the same
credential by the KREAB, provided the applicant is in good standing and the State appraiser
regulatory agency requirements for licensure/certification are same as Kentucky requirements.
If an applicant cannot demonstrate good standing with the all the States appraiser regulatory
agencies at the time of application, the application will not be considered credible.
If I am certified in another State and apply to Kentucky for a reciprocal credential, will
I be expected to comply with the Kentucky qualifying education, examination, and
experience requirements?
No. If an individual applies to the Kentucky Real Estate Appraisers Board while holding a real
property appraiser credential from another State, that individual will be granted the same
credential by the KREAB, provided the applicant is in good standing and the State appraiser
regulatory agency requirements for licensure/certification are same as Kentucky requirements.
If an applicant cannot demonstrate good standing with the all the States appraiser regulatory
agencies at the time of application, the application will not be considered credible.
If I am certified in another State and apply to Kentucky for a reciprocal credential, will
I be expected to comply with the Kentucky continuing education requirements?
Yes. All Kentucky Real Estate Appraiser license/credential holders must comply with the same
continuing education requirements.
KREAB Criteria FAQ
Revised: October 2019
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Figure 3- Required Topic Matrix of Course Offerings for Each Credential and Moving From One Credential to Another
1 2 3 4 5 6 7
Required Core Curriculum Topics
Associate Real
Property
Appraiser
Licensed
Residential Real
Property
Appraiser
Certified
Residential
Initial
Certified
General
Initial
Certified
Residential
From
Associate
Certified
General
From
Associate
Certified
General
From
Residential
7 hour-Supervisor Associate Mandatory
Course
YES
1 Basic Appraisal Principles 30 30 30 30
2 Basic Appraisal Procedures 30 30 30 30
3 Uniform Standards of Professional
Appraisal Practice (National Course)
15 15 15 15
4 Market Analysis/Highest and Best Use 15 15 15 30 15 15
5 Sales Comparison and Income Approach 30 30 30 30 30 15
6 Site Valuation and Cost Approach 15 15 30 15 30 15
7 Income Property Appraisal 60 60 45
8 Report Writing and Case Studies 15 15 30 15 30 10
9 Advanced Residential Applications & Case
Studies
15 15
10 Statistics, Modeling and Finance 15 15 15 15
11 Electives (Real Estate and Real Estate
Appraisal Courses)
20 30 20 30
Total 90 Hours 150 Hours 200 Hours 300 Hours 110 Hours 210 Hours 100 Hours
Columns 5, 6 and 7 list the course topics that will be required for completion when a current credential holder applies for one or the other credentials listed.
Note 1: An applicant for Associate must complete the 7 hour Supervisor Associate Mandatory Course.
Note 2: In addition to moving from one credential to another, an applicant must also complete the national AQB examination for the credential being applied for, and complete
any additional experience requirements.
KREAB Criteria FAQ
Revised: October 2019
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REQUIRED KENTUCKY TOPIC CURRICULUM
Core Curriculum
Each applicant, making initial request to the Kentucky Board must successfully complete courses listed
below. Each course completed must include at minimum 15-hours class time, and require a closed-book
examination that is pertinent to the educational offering.
KY ASSOCIATE REAL PROPERTY APPRAISER CREDENTIAL
Curriculum – Associate Real Property Appraiser Hours
Basic Appraisal Principles
30
Basic Appraisal Procedures
30
Market Analysis & Highest and Best Use
15
National USPAP Update course or its Equiva
lent
15
Total Hours
Associates are also required to complete a 7-hour KY mandatory Supervisor/Associate course.
90
KY LICENSED RESIDENTIAL REAL PROPERTY APPRAISER CREDENTIAL
Curriculum – Licensed Residential Real Property Appraiser Hours
Basic Appr
aisal Principles
30
Basic Appraisal Procedures
30
Residential Market Analysis & Highest and Best Use
15
National USPAP Update course or its Equivalent
15
Residential Appraiser Site Valuation and Cost Approach
15
Residential Sales Comp
arison and Income Approaches
30
Residential Report Writing & Case Studies
15
Total Hours
150
KY CERTIFIED RESIDENTIAL REAL PROPERTY APPRAISER CREDENTIAL
Curriculum – Certified Residential Real Property Appraiser Hours
Basic Appraisal Pr
inciples
30
Basic Appraisal Procedures
30
Residential Market Analysis & Highest and Best Use
15
National USPAP Update course or its Equivalent
15
Residential Appraiser S
ite Valuation and Cost Approach
15
Residential Sales Comparison an
d Income Approaches
30
Residential Report Writing & Case Studies
15
Statistics, Modeling and Finance
15
Advanced Residential Applications and Case Studies
15
Appraisal Subject Matter Electives
20
TOTAL HOURS
200
KREAB Criteria FAQ
Revised: October 2019
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KY CERTIFIED GENERAL REAL PROPERTY APPRAISER CREDENTIAL
Curriculum – Certified General Real Property Appraiser Hours
Basic Appraisal Principles
30
Basic Appraisal Procedures
30
General Appraiser Market Analysis & Highest and Best Use
30
National USPA
P Update course or its Equivalent
15
General Appraiser Income Approach
60
General Appraiser Sales Comparison Approach
30
General Appraiser Site Valuation and Cost Approach
30
General Appraiser Report Writing and Case Studies
30
Statistic
s, Modeling and Finance
15
Appraisal Subject Matter Electives
30
TOTAL HOURS
300
