DEPARTMENT OF REGULATORY AGENCIES
DIVISION OF REAL ESTATE
BOARD OF REAL ESTATE APPRAISERS
4 CCR 725-2

NOTICE OF PROPOSED PERMANENT RULEMAKING HEARING
November 3, 2016

CHAPTER 4:	STANDARDS FOR REAL ESTATE APPRAISAL LICENSING EXAMINATIONS

Pursuant to and in compliance with Title 12, Article 61 and Title 24, Article 4, C.R.S. as amended, notice of proposed rulemaking is hereby given, including notice to the Attorney General of the State of Colorado and to all persons who have requested to be advised of the intention of the Colorado Board of Real Estate Appraisers (the “Board”) to promulgate rules, or to amend, repeal or repeal and re-enact the present rules of the Board.

STATEMENT OF BASIS

The statutory basis for the rules titled the Board of Real Estate Appraisers is Chapter 7 of Title 12, Article 61, Colorado Revised Statutes, as amended.  

STATEMENT OF PURPOSE

The purpose of this rule is to effectuate the legislative directive to promulgate necessary and appropriate rules in conformity with the statute and the provisions of the federal Financial Institutions Reform, Recovery and Enforcement Act of 1989 as amended.

SPECIFIC PURPOSE OF THIS RULEMAKING

The purpose of this rule is to modify the standards necessary for real estate appraisal licensing examinations.

Proposed New, Amended and Repealed Rules

Deleted material is showed by struck through; new material is indicated by Small Caps or underline. Rules, or portions of rules, which are unaffected are reproduced.  Readers are advised to obtain a copy of the complete rules of the Board at www.dora.colorado.gov/dre.

CHAPTER 4:	STANDARDS FOR REAL ESTATE APPRAISAL LICENSING EXAMINATIONS

4.1	Any person wishing to apply for any appraiser’s license shall must register for and achieve a passing score on the appropriate level of examination with the testing service designated by the Board. No other examination results will be accepted. The appropriate levels of examination for the respective levels of licensure are as follows:

License Level	Examination	
Licensed Ad Valorem Appraiser	Licensed Ad Valorem Appraiser	
Licensed Appraiser	Licensed Real Property Appraiser	
Certified Residential Appraiser	Certified Residential Appraiser	
Certified General Appraiser	Certified General Appraiser	

4.2	Examinees shall must comply with the standards of test administration established by the Board and the testing service.

4.3	A passing score on an examination shall will be valid for two (2) years from the examination date. Failure to file a complete application within the two (2) year period will result in the examination grade being void.

4.4	Examinations will be given only to duly qualified applicants for an appraiser's license; however, one instructor from each appraisal qualifying education course provider approved pursuant to Board Rule 3.3 may take the examination one time during any twelve (12) month period in order to conduct research for course content.

4.6	Examinations developed by or contracted for by the Board for licensed and certified appraisers shall must comply with Title XI, FIRREA the Real Property Appraiser Qualification Criteria as defined in Board Rule 1.32.

4.7	Repealed.

4.8	Examinees may use financial calculators during the examination process. The memory functions of any such calculator shall must be cleared by the testing service staff prior to the beginning and after the conclusion of the examination.

A hearing on the above subject matter will be held on Thursday, November 3, 2016, at the Colorado Division of Real Estate, 1560 Broadway, Suite 1250-C, Denver, Colorado 80202 beginning at 9:00 a.m. 

Any interested person may participate in the rule making through submission of written data, views and arguments to the Division of Real Estate.  Persons are requested to submit data, views and arguments to the Division of Real Estate in writing no less than ten (10) days prior to the hearing date and time set forth above. However, all data, views and arguments submitted prior to or at the rulemaking hearing or prior to the closure of the rulemaking record (if different from the date and time of hearing), shall be considered.

Please be advised that the rule being considered is subject to further changes and modifications after public comment and formal hearing.