(1) Acceptable appraisal experience includes but is not limited to the following:

(a) fee and staff appraisals;

(b) ad valorem tax appraisals, in accordance with ARM 24.207.508;

(c) review appraisals;

(d) appraisal analysis;

(e) real estate appraisal consulting;

(f) highest and best use analysis;

(g) appraisal feasibility analyses or studies; and

(h) eminent domain appraisals.

(2) Acceptable appraisal experience must be for an unrelated client or where the applicant has no financial interest in the property.

(3) All applicants claiming appraisal experience shall have made a substantial contribution in arriving at a value conclusion as evidenced by the applicant's signature on the report or the applicant's name listed in the report. Each appraisal shall show progressive participation in the appraisal process as documented in the experience log approved by the board.

(4) All evidence of appraisal activity must be supported by written file memoranda or written report and made available to the board for review.

(5) The experience log claimed by an applicant shall be on forms prescribed by the board which shall include:

(a) type of property;

(b) date of report;

(c) address of appraised property;

(d) description of work performed;

(e) number of work hours;

(f) scope of work completed by trainee; and

(g) scope of work completed by approved mentor.

(6) All experience submitted to the board must be done in conformance with the Uniform Standards of Professional Appraisal Practice (USPAP) as promulgated by The Appraisal Foundation that is current at the time the appraisal is completed.

(7) Qualifying experience must be obtained within five years prior to application date, unless otherwise determined by the board.

(8) Timber and mineral appraisal does not qualify as real estate appraisal experience, unless performed in conjunction with a real estate appraisal involving real property.

(9) The board will use the following maximum hourly credit as a guide toward the crediting of experience hours:

(a) single family residential (one unit dwelling)

(i) self-contained report 40

(ii) summary report 12

(iii) restricted use report 12

(b) multifamily residential (two to four units) 20

(i) self-contained report 40

(ii) summary report 20

(iii) restricted use report 20

(c) residential vacant land less than ten acres 8

(i) self-contained report 16

(ii) summary report 8

(iii) restricted use report 8

(d) individual residential subdivision sites (per site)

(not to exceed 20 hours - two sites per subdivision) 5

(i) self-contained report 10

(ii) summary report 5

(iii) restricted use report 5

(e) land (undeveloped nonresidential tracts, residential multifamily sites, commercial sites, industrial sites, land in transition, etc.) 20

(i) self-contained report 60

(ii) summary report 20

(iii) restricted use report 20

(f) rural, agricultural, or residential ten to 160 acres 20

(i) self-contained report 60

(ii) summary report 20

(iii) restricted use report 20

(g) rural, agricultural, or residential 160 to 1000 acres with improvements

(i) self-contained report 100

(ii) summary report 50

(iii) restricted use report 50

(h) rural, agricultural, or residential over 1000 acres with improvements

(i) self-contained report 120

(ii) summary report 60

(iii) restricted use report 60

(i) residential multifamily (5-12 units) (apartments, condominiums, townhouses, mobile home parks, etc.) 35

(i) self-contained report 70

(ii) summary report 35

(iii) restricted use report 35

(j) residential multifamily (13+ units) (apartments, condominiums, townhouses, mobile home parks, etc.) 40

(i) self-contained report 120

(ii) summary report 60

(iii) restricted use report 60

(k) commercial single tenant (office building, retail store, restaurant, service station, bank, day care center, etc.) 35

(i) self-contained report 70

(ii) summary report 35

(iii) restricted use report 35

(l) commercial multitenant (office building, shopping center, hotel, etc.) 60

(i) self-contained report 120

(ii) summary report 60

(iii) restricted use report 60

(m) industrial (warehouse, manufacturing plant, etc.) 60

(i) self-contained report 180

(ii) summary report 60

(iii) restricted use report 60

(n) institutional (nursing home, hospital, school, church, government building, etc.) 60

(i) self-contained report 180

(ii) summary report 60

(iii) restricted use report 60

(10) Review appraisals will be allowed a maximum 1/3 the allotted time found in (9).

(11) The board may provide a variance from the hourly standards provided in (9) and (10). To be considered for such a variance, an applicant must submit a written request for a variance supported by documentation, which demonstrates the need for additional credit hours.