Appraiser Liability 101: Essential Concepts
Approved in CA, HI, OR and TX. More states soon!
Preview from Appraiser Liability 101
4 Appraiser CE Hours
Approved in CA, HI, OR and TX
More states soon!
Course Orientation and Education Policies
Please read this Course Orientation to make sure that Appraiser Liability 101 is right for you and that it will meet your expectations. In particular, if you are seeking continuing education credit in a state, please review the information about current state approvals below.
Appraisers who complete this course and who are insured by LIA Administrators & Insurance Services are eligible for up to a $50 discount on their next E&O policy premium. ($50 if the per claim limit on the policy is $500,000 or higher; $25 if the claim limit is lower.)
Course Summary and Learning Method
This four-hour online course covers current liability trends affecting appraisers and dispels some common myths and misunderstandings. It is focused primarily on appraisals and appraisal reviews for mortgage loans. Actual lawsuits and claims form the foundation of the program.
These are the types of questions answered by the course: Who sues appraisers? What do they sue for? What are the most common errors that lead to lawsuits? How do the USPAP concepts of intended use and user relate to an appraiser’s potential liability? Based on recent case law, how can an appraiser best protect themselves against unwarranted liability? What liability exposures exist for appraisal review work?
The course content consists of video lectures by attorney Peter Christensen with quizzes following each chapter. The course uses a mastery-based learning method which divides the course content into seven chapter videos. Students show mastery of the content by successfully completing short quizzes after each video chapter. Students are given automated feedback for incorrect quiz responses before they move on to the next chapter.
Acknowledgment of Course Orientation
This Course Orientation contains important information about the suitability of this course for you and contains our education policies. If you choose to enroll in the course, you will be acknowledging that you have read and understand the Course Orientation.
Continuing Education Approval
You are welcome to take the course regardless of whether you are seeking continuing education credit hours. However, if you are seeking official education credit, please be sure that credit is currently available in your state(s) of licensure.
Appraiser Liability 101: Essential Concepts is approved by the following state appraiser licensing and certification agencies as of February 12, 2019:
- California (Approval No. 1910722001, expires 1/17/23)
- Hawaii (Index No. 19-001, expires 12/31/19)
- Oregon (Course Approval No. VALE-C-0119-0001, expires 1/2/22)
- Texas (Course No. 36259, expires 1/2/22)
- More states soon!
The instructor for this course is attorney Peter Christensen. Peter maintains a law practice focused on assisting clients with legal and regulatory matters concerning real estate valuation and litigation. His clients include appraisers and valuation firms, as well as technology companies and investors. He also serves as the general counsel of LIA Administrators & Insurance Services, which provides professional liability insurance to more than 15,000 individual real estate appraisers and firms.
The learning objectives of the course are to provide practicing real estate appraisers with an ability to do the following:
- Understand the key legal elements of a professional negligence claim and, based on that knowledge, identify the main liability risks in appraisal work.
- Recognize the most common parties who file lawsuits against appraisers in relation to appraisals for lending purposes.
- Understand why and how the USPAP concepts of client/intended user and intended use relate to legal claims against appraisers.
- Critically evaluate intended use and user language and develop intended use and user language that reduces liability risk.
- Critically evaluate appraisal report forms for liability risks they may create.
- Understand the most common problems in appraisals raised in claims.
- How to make effective disclosures in appraisal reports.
- Handle common liability threats and actual claims properly.
- Understand the importance of the appraiser’s work file to liability prevention.
- Know how the statute of limitations works for common claims against appraisers.
- Spot and address key liability issues in new forms of appraisal work (“hybrid appraisals”).
- Understand the special liability characteristics of appraisal review work.
- Understand supervisor and trainee risk.
- Differentiate and understand the different liability risks posed by non-lending appraisal assignments.
- Understand key aspects of professional liability insurance.
- Understand how limited liability entities relate to individual professional liability.
The discussion primarily relates to appraisal work for lending assignments. An emphasis is placed on developing the appraiser’s ability to apply the learned concepts to this type of work.
Course content and access questions:
Peter Christensen (Instructor)
No Course Prerequisites, Supplemental Materials or Assignments
There are no prerequisites or supplemental materials required for the course. All elements required for completion are contained in the learning platform. There are no outside assignments or homework. A few pieces of optional outside reading are made available to students, but they are not required elements of the course.
Technical Requirements for Accessing the Course
The course is accessed in a cloud-based learning platform. A student needs a desktop or laptop computer with one of the up-to-date internet browsers listed below and needs internet access supplied by cable modem, DSL, T-1 or a similar connection with sufficient speed to view YouTube-type videos. A student may access the course at any time of day.
The learning platform supports the following internet browsers:
- Google Chrome – latest two versions
- Mozilla Firefox – latest two versions
- Apple Safari – latest version
- Microsoft Internet Explorer – 9 and higher (for optimal Internet Explorer experience, please use the latest version of Edge, if possible)
Other and older browsers can still be used, but some features may not look or work as intended. We recommend that you use a current version of one of the above browsers.
Enrolling in this course begins on www.valuationeducation.com, our home website.
- On www.valuationeducation.com, you’ll find our available courses under the “Course” heading.
- Choose the course you want to enroll in (Appraiser Liability 101) and then click on the “Buy Course” button.
- Enter the requested registration information – it’s important to use your real name, so that we can give you proper education credit.
- When registering, you will also choose a password.
- Pay the course fee by Visa or Mastercard.
- After registering and paying the fee, you’ll either be taken to the course automatically or you can go to our learning platform by clicking on the “Log In or Register” button in the upper right corner.
- You will see the course you are registered for by clicking on the “My Learning” tab on the left slide.
- You may now log in and out of your course anytime.
- You can return to the course by returning to our home page www.valuationeducation.com and clicking on the “Log In or Register” button in the right upper corner.
- Registration and access to the course is available at any time of day.
General Course Policies
- Course Fee. The fee for this course is $50. This is the only fee charged for the course, and there are no other materials that must be purchased to take the course or receive credit.
- Time for Completion. Students have 90 days after registration to complete the course at their own pace before their online access expires. However, if students need more time for any reason (including illness), they may email the instructor. When requested, we will extend the time to complete the course by an additional 90 days.
- Refunds. Students may obtain a full refund of the course fee for any reason during the initial 90-day access period, if they have not completed the course beyond the chapter 1 quiz. Refunds will be issued by check within 30 days of a proper request. Students found to be cheating or committing fraud in the course are not eligible for any refunds.
- Quizzes and Grading. There are seven quizzes following each chapter video. The course utilizes a mastery based learning method. Thus, students must complete each chapter and pass each quiz with a score of at least 70% (or higher if required in the student’s licensing state) to move onto the next chapter. Students are given feedback in the learning platform for incorrect answers and may take the quizzes as many times as needed to master the subject matter and achieve a passing score.
- No Final Exam, Except In States Where Required. Other than the seven mastery quizzes following each chapter, no final exam is given at the end of the course, unless required by state law or regulation. At this time, these states are: none.
- Attestation of Student Identity. When logging into the course and at the time of completion, students are required to attest to their identity and that they personally have completed all elements of the course.
- Cheating or Fraud. Any cheating or fraud with respect to student identity or other aspects of the course will be reported to applicable state appraiser licensing and certifying agencies. Such students will not receive course credit or a refund.
- Course Evaluation. At the end of the course, there is an online evaluation form. The course is not considered complete until the course evaluation has been completed.
- Completion of Entire Course Required for Credit. Students must complete the entire course to receive education credit. There is no partial credit.
- Student Assistance. Students are encouraged to seek help from the instructor when necessary to improve their learning. Contact information is provided to students in this orientation and in the learning platform.
How to Navigate the Course
While we provide written course navigation instructions below, students may find it easier to follow the course navigation video provided at the beginning of the course and as well in the “Resource Center” in the learning platform:
- If you have already registered for a course, go to valuationeducation.com and click on login in the upper right-hand corner of the homepage. This will bring you to the learning platform.
- Once you have entered the online learning platform, click on “My Learning” in the menu on the left edge of the page. If you wish to hide or show this menu, click on the three small lines on the left of the page, just to the right of the Valuation Education logo near the top.
- From the “My Learning” page, when your mouse is over the box labeled with the course title, it should darken and show the words “launch course” in the center. Click this to enter the course.
- Now you are in your course. From here, you will watch videos that contain the course content and take knowledge quizzes after every chapter. The chapters and quizzes are laid out sequentially from the top to the bottom of the page. To move on to the next video or quiz, the previous one must be completed in full.
- To watch a video chapter, simply press the play button in the bottom right of the video player. You will not be able to scrub through or fast forward within a video until it has been watched completely through once; after that, you can go back and forth through each video at your convenience.
- While viewing a chapter, you can move on to the next chapter, if unlocked, by clicking the blue box with an arrow in the upper right corner.
- You can exit the course by click the red x in the upper left corner.
- While taking a quiz, click the “Save and Continue” button below the answer choices to move on to the next question.
- To exit a quiz at any time, click the “Exit Assessment” button in the upper right. Your responses will be saved.
Accessibility – Americans with Disabilities Act
We want students to have access to the course regardless of disability and we will make reasonable accommodations to assist students with disabilities in taking the course. Students with visual impairments may enlarge the viewed content and/or listen to the audio in the videotaped segments of the course and may use a reader or assistant for the purpose of completing the quizzes, or call us for assistance. Students with hearing impairments may follow the video segment presentations by using the written course transcript available to students in the learning platform. It contains a complete text of the video segments. Please contact us if there are further ways that we can accommodate a disability.
Non-Discrimination and Equal Opportunity Policy
Valuation Education does not discriminate on the basis of race, color, religion, gender, gender expression, age, national origin, disability, marital status, sexual orientation, or military status, in any of its activities or operations. We are committed to providing an inclusive and welcoming environment for all students and staff.