Appraiser Liability 50: Lending Work (Not for CE Credit)

What’s this course about? It’s about preventing liability for appraisers performing appraisal work for lenders. It’s equally relevant to residential and commercial appraisers. The content consists of 7 chapter videos by attorney Peter Christensen. Appraisers are always surprised by how interesting the real world lawsuits in the course are.

For $25, you can add Peter Christensen’s book Risk Management for Real Estate Appraisers and Appraisal Firms (published by the Appraisal Institute, 230 pages, with a regular retail price of $60).

Completion of Appraiser Liability 50 also qualifies you for LIA’s insurance discount, explained below.

However, please note that this version of the course is not approved for state appraiser continuing education credit. It is for your knowledge and self-protection (and entertainment). If want a course for CE credit, please check if Appraiser Liability 101 is approved in your state.

Use these buttons to purchase the course with or without the Book. If purchased, the book will be sent by U.S. Mail to the address you provide during check out:

Course Orientation and Policies for Appraiser Liability 50

Welcome

Please read this Course Orientation to make sure that Appraiser Liability 50 is right for you and will meet your expectations. In particular, please note that this course is not approved for appraiser CE education by any state appraiser board. It is offered for your knowledge and self-protection — most appraisers also find it interesting. If you want a course for CE credit, please take a look at Appraiser Liability 101: Essential Concepts to see if it is approved in your state.

What’s the Difference Between this Course and Appraiser Liability 101?

The content is actually the same. The main difference is that since Appraiser Liability 50 does not need to meet the technical requirements for CE approval, it moves faster because there are slightly fewer quiz questions and because certain content (about “hybrid” appraisals) is optional. You also don’t have to watch each video chapter in its entirety — you can focus on the parts you want.

E&O Discount for Completing Appraiser Liability 50

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. The discount can be up to $50 if the per claim limit of your policy is $500,000 or higher; it is $25 if the claim limit is lower. The discount is limited, however, to the amount you pay for the course. Thus, if you buy just the online course without the book, the maximum discount is $25. If you buy the course with the book, the maximum discount is $50. Completing Appraiser Liability 50 means successfully passing all of the quizzes.

Course Summary

This 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 seven video lectures by attorney Peter Christensen with quizzes following each video.

Course Instructor

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.

Learning Objectives

The learning objectives of the course are to provide practicing real estate appraisers with an ability to do the following: 

  1. Understand the key legal elements of a professional negligence claim and, based on that knowledge, identify the main liability risks in appraisal work.
  2. Recognize the most common parties who file lawsuits against appraisers in relation to appraisals for lending purposes.
  3. Understand why and how the USPAP concepts of client/intended user and intended use relate to legal claims against appraisers.
  4. Critically evaluate intended use and user language and develop intended use and user language that reduces liability risk.
  5. Critically evaluate appraisal report forms for liability risks they may create.
  6. Understand the most common problems in appraisals raised in claims.
  7. How to make effective disclosures in appraisal reports.
  8. Handle common liability threats and actual claims properly.
  9. Understand the importance of the appraiser’s work file to liability prevention.
  10. Know how the statute of limitations works for common claims against appraisers.
  11. Optional content: Spot and address key liability issues in new forms of appraisal work (“hybrid appraisals”).
  12. Understand the special liability characteristics of appraisal review work.
  13. Understand supervisor and trainee risk.
  14. Differentiate and understand the different liability risks posed by non-lending appraisal assignments.
  15. Understand key aspects of professional liability insurance.
  16. Understand how limited liability entities relate to individual professional liability.

Contact Information

Course content and access questions:
Peter Christensen (Instructor)
peter@valuationeducation.com

Registration Instructions

Enrolling in this course begins on www.valuationeducation.com, our home website.

  1. On www.valuationeducation.com, you’ll find our available courses under the “Course” heading.
  2. Choose the course you want to enroll in and then click on the “Buy Course” button.
  3. Enter the requested registration information – it’s important to use your real name, so that we can give you proper education credit (if applicable).
  4. When registering, you will also choose a password.
  5. Pay the course fee by Visa or Mastercard.
  6. 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.
  7. You will see the course you are registered for by clicking on the “My Learning” tab on the left slide.
  8. You may now log in and out of your course anytime.
  9. 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.
  10. Registration and access to the course is available at any time of day.

Specific Course Policies

  1. 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, they may email the instructor.  When requested, we will extend the time to complete the course by an additional 90 days.
  2. No Refunds for this Course. No refunds will issued for this course or the book, unless the course suffers a technical problem and becomes unavailable.
  3. Quizzes and Grading. There are six quizzes following each chapter video.  Students must pass each quiz with a score of at least 70% to complete the course. 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.
  4. No Final Exam. Other than the quizzes following each chapter, no final exam is given at the end of the course.
  5. 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.
  6. Completion of Entire Course Required for E&O Discount. Students must complete the entire course by passing each quiz in order to receive the E&O discount from LIA. There is no partial credit.

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:

  1. 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.
  2. 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.
  3. 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.
  4. 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.
  5. 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.
  6. 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.
  7. You can exit the course by click the red x in the upper left corner.
  8. While taking a quiz, click the “Save and Continue” button below the answer choices to move on to the next question.
  9. To exit a quiz at any time, click the “Exit Assessment” button in the upper right. Your responses will be saved.