National USPAP Update Information
Important Information regarding the 7 hour National USPAP Update course required completion date.
Revised Language in 201 KAR 30:030
The revised language within regulation 201 KAR 30:030 requires all Kentucky Licensed/Certified Appraisers shall complete the 7-Hour National USPAP Course, or its equivalent approved by the AQB, between January 1st and June 30th of each even number year (example 2010, 2012, 2014, etc.).
The language shall allow Kentucky Licensed and Certified Appraisers to receive credit for the AQB approved 7-Hour National USPAP Update Course if the course is completed prior to January 1 of an even numbered year and provided the course includes the USPAP Update material that will be effective January 1 of the even numbered year following the course completion date.
The revised rule shall apply to “all” Kentucky certified and licensed appraisers, 1) regardless of when a credential was first received, 2) regardless of whether the certificate holder is a Kentucky resident, 3) whether the credential was received by reciprocity from another State, or 4) regardless of when a Kentucky credential holder last completed the 15-hour USPAP Course or the 7-Hour USPAP Update Course.*
*Q: Will continuing education credit be awarded for completion of the current 7-Hour Update Course that included the 2008-2009 USPAP, if the completion date was after June 30, 2009, but before the 2010-2011 revised course is available?
A: Yes. The above course will be recognized for 7 of the 14 hours of required KREAB continuing education. But, a Kentucky licensed or certified appraiser who completed the course must also complete the 7-Hour Update that will include the 2010-2011 USPAP revisions prior to June 30, 2010.
Therefore, a Kentucky licensed or certified appraiser can be awarded 14 hours of Kentucky continuing education for successfully
completing the two USPAP courses listed above during the 2009-2010 renewal period.