National USPAP Update Information
Important Information regarding the 7 hour National USPAP Update course required completion date.
Revised Language in 201 KAR 30:125
The revised language within regulation 201 KAR 30:125 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 May 15th of each even number year (example 2016, 2018, 2020 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 2014-2015 USPAP, if the completion date was after May 15, 2015, but before the 2016-2017 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 2016-2017 USPAP revisions prior to May 15, 2016.
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 2016 renewal period.