John,
My impression of the course is that it is very broad in its scope. The ASB's intention for this course is to avoid the chapter-verse mentality that the updates tend to take, and instead focus on the big picture. This course is oriented toward the underlying concepts and principles of appraisal ethics and appraisal practice rather than licensing and enforcement issues, per se. The course was instructed by Danny Wiley (ASB Chair) and and Kenneth Kaiser, also of the Appraisal Standards Board. There were also a few other members of the Foundation, past and present, in the class. The two instructors tag-teamed their way through the material on a fairly brisk pace. Both instructors are very knowledgable, communicatve and approachable. I would rate both the instructors with an "A", and the course material with an "A-". Especially since I know they are probably looking and they haven't graded my test yet... 8O
For anyone who is enrolled in the course I have the following recommendations:
The instructors will not cover the course material itself in a comprehensive manner; they try to stick to the high points. Nevertheless, all of the material is relevant to both the general goals of the course (instructor competence) as well as passing the test itself.
Pre-Course preparation:
Spend the recommended 10-15 hours studying the course material they send you (also available as a download from their site), including all of the practical examples, test questions and the illustrative charts.
Memorize the relevant terms from the Definitions section of the USPAP, as many of the concepts and principles revolve around very precise usage of these terms.
In particular, bone up on the elements of the USPAP relating to Intended Use, Intended User, and Scope of Work. Statement on Standards #7 and #9 will be referred to frequently.
At the course meeting:
Try to avoid getting the instructors off track. Their schedule is tight and they stick to it. Actually, a better way to put it is 'don't try to get the instructors off track, they won't do it (much).' They refer to off-subject discussions as "shooting rabbits", as in, when a rabbit jumps up out of a hole and makes a run for it....
Try to avoid getting into a debate about the terms 'reliability' vs. 'credibility'. It doesn't look like they're going to swap out the term 'reliable' any time soon. There is a section in the course that addresses that issue.
Don't get hung up on rigid interpretations of appraisal theory and practice as defined (by the pinheads) in mortgage lending work. Instead, think 'big picture'. Eventually, USPAP compliance will be judged strictly relative to the intended users and intended uses. What will work for one user and/or use will be inappropriate for another. Actually, it's already like that, except not everyone knows it yet.
Try to avoid attempting to pin the ASB down on enforcement issues. IMO, their position seems to be 'the states don't tell us how to set appraisal standards, and we don't tell them how to enfore the law.'
Their tests are Multiple Choice, often with more than 1 right answer. They are seeking the best and most complete answer. Bring your best test-taking mind-set with you, you'll need it. Not everyone will be able to pass this test.
FYI, the members of the ASB apparently monitor this forum. They know who we are, some of us (like myself) by name. In my case I'm still not entirely sure that's a good thing.... :twisted:
