The function of the ASB is to develop, interpret and amend the Uniform Standards for Professional Appraisal Practice (USPAP). The ASB also promotes the use, understanding and enforcement of USPAP. Title VI of the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA) requires that real estate appraisers hired to work on federally related transactions must conduct appraisals in accordance with USPAP.

The new Personal Property Appraiser Minimum Qualifications Criteria adopted on July 30, 1998 by the Appraiser Qualifications Board are recommended guidelines. They are not a requirement for state certification. In fact, there is no state certification requirement for personal property appraisers, only real estate and commercial property appraisers. The AQB criteria, however, does designate that appraisers have attained a certain level of professional development and are committed to meeting the USPAP standards that pertain to personal property appraising. It is likely that personal property appraisers hired to do work for the federal government, state governments, insurance companies, attorneys, lending institutions, etc., will eventually be required by those entities to meet the new AQB Criteria.

We, The American Society of Agricultural Appraisers, are currently developing a series of seminars designed to meet the education portion of the new AQB Criteria. Information about our seminars is available on this website. We want our members to be on the cutting edge of their profession.

With this background information in mind let's take a look at the new AQB Personal Property Appraiser Minimum Qualifications Criteria.

NEW MINIMUM QUALIFICATIONS CRITERIA FOR PERSONAL PROPERTY APPRAISERS
On July 30, 1998 the Appraiser Qualifications Board (AQB) adopted new criteria for becoming an AQB Qualified personal appraiser. The new requirements are as follows:

I. All course work requires that each candidate pass a COMPREHENSIVE EXAMINATION.
A. The examination will cover personal property appraisal principles and theory, and the Uniform Standards of Professional Practice (USPAP) To sit for the examination you must first demonstrate:
1. Successful completion of the qualifying education requirement, and
2. Successful completion of the qualifying experience requirement.

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