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PUBLIC PROTECTION CABINET

Real Estate Appraisers Board

(New Administrative Regulation)

831 KAR 3:050.Examinations.

RELATES TO:

KRS Chapter 324A, 12 U.S.C. § 3350

STATUTORY AUTHORITY:

KRS 324A.040

CERTIFICATION STATEMENT:

NECESSITY, FUNCTION, AND CONFORMITY:

KRS 324A.020 and 324A.035 require the Real Estate Appraisers Board, with the review of the director of the Division of Real Property Boards, to promulgate administrative regulations necessary to carry out the provisions of KRS Chapter 324A. This administrative regulation is necessary to comply with Title XI of the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (12 U.S.C. § 3331 through 12 U.S.C. § 3351), and KRS Chapter 324A. KRS 324A.035(3)(a), (b), and (e) require the board to establish by administrative regulations requirements for classifications of appraisers, certification and licensure, and examination of applicants for certification or licensure. KRS 324A.040 requires the Board to establish examination requirements for certification and licensure. This administrative regulation describes examination requirements for certification and licensure.

Section 1.

Examination.

(1)

An applicant for certification as a certified general real property appraiser, a certified residential real property appraiser, or for licensure as a licensed residential real property appraiser shall pass an examination specific to the certification or license applied for and approved by:

(a)

The board; and

(b)

The Appraiser Qualifications Board of the Appraisal Foundation.

(2)

A passing score from an examination shall be valid for two (2) years from the date of the passing score being reported to the applicant.

(3)

There is no examination requirement for an associate real property appraiser credential. An applicant for credentialing as an associate real property appraiser shall pass the appropriate end-of-course examinations in all prerequisite qualifying education courses to receive credit for those courses.

Section 2.

Board Approval.

(1)

Prior to being approved to take the national appraisal examination for credit toward licensure or certification by the board, an applicant shall complete all education and experience requirements for the credential set forth in administrative regulations 831 KAR 3:030 and 831 KAR 3:040.

(2)

To receive board approval to take a national appraisal examination for credit toward licensure or certification by the board, prior to taking the examination an individual shall submit:

(a)

A completed Application for Examination Approval;

(b)

The fee required by 831 KAR 3:010 Section 1(1)(a);

(c)

Proof of completion of the required education as established in administrative regulation 831 KAR 3:030; and

(d)

Proof of completion of the required experience as established in administrative regulation 831 KAR 3:040, including:

1.

An Appraisal Log as established in administrative regulation 831 KAR 3:040; and

2.

Sample appraisal reports, file memoranda, and other documentation requested by the board to confirm the applicant's appraisal experience.

(3)

An applicant for examination shall receive approval from the board before scheduling the examination.

JOHN DEXTER OUTLAW, Board Chairperson

TRACY CARROLL, Director

RAY A. PERRY, Secretary

APPROVED BY AGENCY: March 25, 2026

FILED WITH LRC: March 30, 2026 at 2:50 p.m.

PUBLIC HEARING AND COMMENT PERIOD: A public hearing on this administrative regulation shall be held on June 24, 2026, at 1:00 P.M. Eastern Time at the Mayo-Underwood Building, Room 133CE, 500 Mero Street, Frankfort, Kentucky 40601. Individuals interested in being heard at this hearing shall notify this agency in writing by five workdays prior to the hearing, of their intent to attend. If no notification of intent to attend the hearing was received by that date, the hearing may be canceled. A transcript of the public hearing will not be made unless a written request for a transcript is made. If you do not wish to be heard at the public hearing, you may submit written comments on the proposed administrative regulation. Written comments shall be accepted through June 30, 2026. Send written notification of intent to be heard at the public hearing or written comments on the proposed administrative regulation to the contact person.

CONTACT PERSON: Patrick Riley, General Counsel, Kentucky Real Estate Appraisers Board, 500 Mero Street, Frankfort, Kentucky 40601, Email patrick.riley@ky.gov, Tel. (502) 782-2618.

REGULATORY IMPACT ANALYSIS AND TIERING STATEMENT

Contact Person:

Patrick Riley

Subject Headings:

Boards and Commissions, Real Estate, Licensing, Fees

(1) Provide a brief summary of:

(a) What this administrative regulation does:

This regulation provides the requirements for the examination for certification and licensure and the steps necessary for an applicant to take prior to the examination.

(b) The necessity of this administrative regulation:

This regulation is necessary to establish requirements for examinations for certification and licensure.

KRS 324A.035 authorizes and requires the Board to promulgate administrative regulations for certification or licensure of appraisers who perform appraisals of real property including examination of applicants for certification or licensure.

(d) How this administrative regulation currently assists or will assist in the effective administration of the statutes:

The Board is charged with licensing and regulating the practice of appraisal in Kentucky. This administrative regulation will assist in the effective administration of examinations for licensure and certification by ensuring that only individuals qualified by education and experience may sit for examination, in accordance with the prerequisites for examination required by the Real Property Appraiser Qualification Criteria of the Appraisal Foundation Appraiser Qualifications Board.

(2) If this is an amendment to an existing administrative regulation, provide a brief summary of:

(a) How the amendment will change this existing administrative regulation:

Not applicable.

(b) The necessity of the amendment to this administrative regulation:

Not applicable.

(d) How the amendment will assist in the effective administration of the statutes:

Not applicable.

(3) Does this administrative regulation or amendment implement legislation from the previous five years?

Yes, this regulation implements the following legislation from the previous five years. HB 172 (Acts Chapter 21) "AN ACT relating to the Kentucky Real Estate Appraisers Board;" effective June 29, 2021. HB 403 (Acts Chapter 182) "AN ACT relating to real property boards;" effective July 15, 2024.

(4) List the type and number of individuals, businesses, organizations, or state and local governments affected by this administrative regulation:

As of October 22, 2025, the Board licenses and regulates over 1,564 individual appraisers and 106 appraisal management companies ("AMCs") that will be affected by this administrative regulation, as follows: 721 Certified General Real Property Appraisers, 664 Certified Residential Real Property Appraiser, 13 Licensed Residential Real Property Appraisers, and 166 Associate Real Property Appraisers. This regulation will impact an unknown number of prospective applicants for certification and licensure. Further, an unknown number of current licensees who are applying for an upgraded certification will also be impacted.

(5) Provide an analysis of how the entities identified in question (4) will be impacted by either the implementation of this administrative regulation, if new, or by the change, if it is an amendment, including:

(a) List the actions that each of the regulated entities identified in question (4) will have to take to comply with this administrative regulation or amendment:

Current licensees will not need to take any new steps to comply with this regulation. This regulation is a new regulation and recodification of prior 201 KAR Chapter 30. Prospective applicants for certification and licensure will need to follow the examination requirements set forth in this administrative regulation.

(b) In complying with this administrative regulation or amendment, how much will it cost each of the entities identified in question (4):

This regulation will impose no new costs on licensees.

Prospective applicants for certification and licensure will be able to identify examination requirements.

(6) Provide an estimate of how much it will cost the administrative body to implement this administrative regulation:

(a) Initially:

There will be no additional cost to the Board to implement this administrative regulation initially.

(b) On a continuing basis:

There will be no additional cost to the Board to implement this administrative regulation on a continuing basis.

(7) What is the source of the funding to be used for the implementation and enforcement of this administrative regulation or this amendment:

There is no additional funding necessary to implement this administrative regulation.

(8) Provide an assessment of whether an increase in fees or funding will be necessary to implement this administrative regulation, if new, or by the change if it is an amendment:

The implementation of this administrative regulation requires no increase in fees or funding.

(9) State whether or not this administrative regulation establishes any fees or directly or indirectly increases any fees:

This administrative regulation does not establish any fees and neither directly nor indirectly increases any fees.

(10) TIERING: Is tiering applied?

No, tiering is not applied because this administrative regulation applies equally to all individuals interested in applying for certification or licensure.

FISCAL IMPACT STATEMENT

(1) Identify each state statute, federal statute, or federal regulation that requires or authorizes the action taken by the administrative regulation:

KRS 324A.015, 324A.020, 324A.035, KRS 324A.040, Chapter 324A, 12 U.S.C. § 3350

(2) State whether this administrative regulation is expressly authorized by an act of the General Assembly, and if so, identify the act:

(3)(a) Identify the promulgating agency and any other affected state units, parts, or divisions:

The Kentucky Real Estate Appraisers Board ("Board") is the agency responsible for implementing this regulation. No other divisions of state or local government entities should be affected.

(b) Estimate the following for each affected state unit, part, or division identified in (3)(a):

1. Expenditures:

For the first year:

There is no cost to administer this administrative regulation for the first year.

For subsequent years:

There is no cost to administer this administrative regulation for subsequent years.

2. Revenues:

For the first year:

This administrative regulation is not intended to generate revenue for any state or local government agency for the first year.

For subsequent years:

This administrative regulation is not intended to generate revenue for any state or local government agency for subsequent years.

3. Cost Savings:

For the first year:

There are no cost savings to administer this administrative regulation for the first year.

For subsequent years:

There are no cost savings to administer this administrative regulation for subsequent years.

(4)(a) Identify affected local entities (for example: cities, counties, fire departments, school districts):

None

(b) Estimate the following for each affected local entity identified in (4)(a):

1. Expenditures:

For the first year:

N/A

For subsequent years:

N/A

2. Revenues:

For the first year:

N/A

For subsequent years:

N/A

3. Cost Savings:

For the first year:

N/A

For subsequent years:

N/A

(5)(a) Identify any affected regulated entities not listed in (3)(a) or (4)(a):

N/A

(b) Estimate the following for each regulated entity identified in (5)(a):

1. Expenditures:

For the first year:

N/A

For subsequent years:

N/A

2. Revenues:

For the first year:

N/A

For subsequent years:

N/A

3. Cost Savings:

For the first year:

N/A

For subsequent years:

N/A

(6) Provide a narrative to explain the following for each entity identified in (3)(a), (4)(a), and (5)(a)

(a) Fiscal impact of this administrative regulation:

None.

(b) Methodology and resources used to reach this conclusion:

Methodology and resources used are the fiscal department within the Public Protection Cabinet, Division of Real Property Boards.

(7) Explain, as it relates to the entities identified in (3)(a), (4)(a), and (5)(a):

(a) Whether this administrative regulation will have a "major economic impact", as defined by KRS 13A.010(14):

This administrative regulation is not intended or anticipated to have a major economic impact as defined by KRS 13A.010(14).

(b) The methodology and resources used to reach this conclusion:

Methodology and resources used are the fiscal department within the Public Protection Cabinet, Division of Real Property Boards.

FEDERAL MANDATE ANALYSIS COMPARISON

(1) Federal statute or regulation constituting the federal mandate.

12 U.S.C. 3345, 12 U.S.C. 3347

(2) State compliance standards.

KRS 324A.020, KRS 324A.035, KRS 324A.040

(3) Minimum or uniform standards contained in the federal mandate.

12 U.S.C. 3345, 12 U.S.C. 3347

(4) Will this administrative regulation impose stricter requirements, or additional or different responsibilities or requirements, than those required by the federal mandate?

This administrative regulation does not impose stricter requirements, or additional or different responsibilities or requirements, than those required by the federal mandate.

(5) Justification for the imposition of the stricter standard, or additional or different responsibilities or requirements.

This administrative regulation does not impose a stricter standard, or additional or different responsibilities or requirements.

PUBLIC PROTECTION CABINET

Real Estate Appraisers Board

(New Administrative Regulation)

831 KAR 3:050.Examinations.

RELATES TO:

KRS Chapter 324A, 12 U.S.C. § 3350

STATUTORY AUTHORITY:

KRS 324A.040

CERTIFICATION STATEMENT:

NECESSITY, FUNCTION, AND CONFORMITY:

Section 1.

Examination.

(1)

(a)

The board; and

(b)

The Appraiser Qualifications Board of the Appraisal Foundation.

(2)

A passing score from an examination shall be valid for two (2) years from the date of the passing score being reported to the applicant.

(3)

Section 2.

Board Approval.

(1)

(2)

To receive board approval to take a national appraisal examination for credit toward licensure or certification by the board, prior to taking the examination an individual shall submit:

(a)

A completed Application for Examination Approval;

(b)

The fee required by 831 KAR 3:010 Section 1(1)(a);

(c)

Proof of completion of the required education as established in administrative regulation 831 KAR 3:030; and

(d)

Proof of completion of the required experience as established in administrative regulation 831 KAR 3:040, including:

1.

An Appraisal Log as established in administrative regulation 831 KAR 3:040; and

2.

Sample appraisal reports, file memoranda, and other documentation requested by the board to confirm the applicant's appraisal experience.

(3)

An applicant for examination shall receive approval from the board before scheduling the examination.

JOHN DEXTER OUTLAW, Board Chairperson

TRACY CARROLL, Director

RAY A. PERRY, Secretary

APPROVED BY AGENCY: March 25, 2026

FILED WITH LRC: March 30, 2026 at 2:50 p.m.

CONTACT PERSON: Patrick Riley, General Counsel, Kentucky Real Estate Appraisers Board, 500 Mero Street, Frankfort, Kentucky 40601, Email patrick.riley@ky.gov, Tel. (502) 782-2618.

REGULATORY IMPACT ANALYSIS AND TIERING STATEMENT

Contact Person:

Patrick Riley

Subject Headings:

Boards and Commissions, Real Estate, Licensing, Fees

(1) Provide a brief summary of:

(a) What this administrative regulation does:

This regulation provides the requirements for the examination for certification and licensure and the steps necessary for an applicant to take prior to the examination.

(b) The necessity of this administrative regulation:

This regulation is necessary to establish requirements for examinations for certification and licensure.

(d) How this administrative regulation currently assists or will assist in the effective administration of the statutes:

(2) If this is an amendment to an existing administrative regulation, provide a brief summary of:

(a) How the amendment will change this existing administrative regulation:

Not applicable.

(b) The necessity of the amendment to this administrative regulation:

Not applicable.

(d) How the amendment will assist in the effective administration of the statutes:

Not applicable.

(3) Does this administrative regulation or amendment implement legislation from the previous five years?

(4) List the type and number of individuals, businesses, organizations, or state and local governments affected by this administrative regulation:

(a) List the actions that each of the regulated entities identified in question (4) will have to take to comply with this administrative regulation or amendment:

(b) In complying with this administrative regulation or amendment, how much will it cost each of the entities identified in question (4):

This regulation will impose no new costs on licensees.

Prospective applicants for certification and licensure will be able to identify examination requirements.

(6) Provide an estimate of how much it will cost the administrative body to implement this administrative regulation:

(a) Initially:

There will be no additional cost to the Board to implement this administrative regulation initially.

(b) On a continuing basis:

There will be no additional cost to the Board to implement this administrative regulation on a continuing basis.

(7) What is the source of the funding to be used for the implementation and enforcement of this administrative regulation or this amendment:

There is no additional funding necessary to implement this administrative regulation.

(8) Provide an assessment of whether an increase in fees or funding will be necessary to implement this administrative regulation, if new, or by the change if it is an amendment:

The implementation of this administrative regulation requires no increase in fees or funding.

(9) State whether or not this administrative regulation establishes any fees or directly or indirectly increases any fees:

This administrative regulation does not establish any fees and neither directly nor indirectly increases any fees.

(10) TIERING: Is tiering applied?

No, tiering is not applied because this administrative regulation applies equally to all individuals interested in applying for certification or licensure.

FISCAL IMPACT STATEMENT

(1) Identify each state statute, federal statute, or federal regulation that requires or authorizes the action taken by the administrative regulation:

KRS 324A.015, 324A.020, 324A.035, KRS 324A.040, Chapter 324A, 12 U.S.C. § 3350

(2) State whether this administrative regulation is expressly authorized by an act of the General Assembly, and if so, identify the act:

(3)(a) Identify the promulgating agency and any other affected state units, parts, or divisions:

The Kentucky Real Estate Appraisers Board ("Board") is the agency responsible for implementing this regulation. No other divisions of state or local government entities should be affected.

(b) Estimate the following for each affected state unit, part, or division identified in (3)(a):

1. Expenditures:

For the first year:

There is no cost to administer this administrative regulation for the first year.

For subsequent years:

There is no cost to administer this administrative regulation for subsequent years.

2. Revenues:

For the first year:

This administrative regulation is not intended to generate revenue for any state or local government agency for the first year.

For subsequent years:

This administrative regulation is not intended to generate revenue for any state or local government agency for subsequent years.

3. Cost Savings:

For the first year:

There are no cost savings to administer this administrative regulation for the first year.

For subsequent years:

There are no cost savings to administer this administrative regulation for subsequent years.

(4)(a) Identify affected local entities (for example: cities, counties, fire departments, school districts):

None

(b) Estimate the following for each affected local entity identified in (4)(a):

1. Expenditures:

For the first year:

N/A

For subsequent years:

N/A

2. Revenues:

For the first year:

N/A

For subsequent years:

N/A

3. Cost Savings:

For the first year:

N/A

For subsequent years:

N/A

(5)(a) Identify any affected regulated entities not listed in (3)(a) or (4)(a):

N/A

(b) Estimate the following for each regulated entity identified in (5)(a):

1. Expenditures:

For the first year:

N/A

For subsequent years:

N/A

2. Revenues:

For the first year:

N/A

For subsequent years:

N/A

3. Cost Savings:

For the first year:

N/A

For subsequent years:

N/A

(6) Provide a narrative to explain the following for each entity identified in (3)(a), (4)(a), and (5)(a)

(a) Fiscal impact of this administrative regulation:

None.

(b) Methodology and resources used to reach this conclusion:

Methodology and resources used are the fiscal department within the Public Protection Cabinet, Division of Real Property Boards.

(7) Explain, as it relates to the entities identified in (3)(a), (4)(a), and (5)(a):

(a) Whether this administrative regulation will have a "major economic impact", as defined by KRS 13A.010(14):

This administrative regulation is not intended or anticipated to have a major economic impact as defined by KRS 13A.010(14).

(b) The methodology and resources used to reach this conclusion:

Methodology and resources used are the fiscal department within the Public Protection Cabinet, Division of Real Property Boards.

FEDERAL MANDATE ANALYSIS COMPARISON

(1) Federal statute or regulation constituting the federal mandate.

12 U.S.C. 3345, 12 U.S.C. 3347

(2) State compliance standards.

KRS 324A.020, KRS 324A.035, KRS 324A.040

(3) Minimum or uniform standards contained in the federal mandate.

12 U.S.C. 3345, 12 U.S.C. 3347

(4) Will this administrative regulation impose stricter requirements, or additional or different responsibilities or requirements, than those required by the federal mandate?

This administrative regulation does not impose stricter requirements, or additional or different responsibilities or requirements, than those required by the federal mandate.

(5) Justification for the imposition of the stricter standard, or additional or different responsibilities or requirements.

This administrative regulation does not impose a stricter standard, or additional or different responsibilities or requirements.

Page Generated: 4/1/2026, 6:19:17 PM

Title 831 | Chapter 003 | Regulation 050REG

831 KAR 3:050.Examinations.

RELATES TO:

STATUTORY AUTHORITY:

CERTIFICATION STATEMENT:

NECESSITY, FUNCTION, AND CONFORMITY:

Section 1.

(1)

(a)

(b)

(2)

(3)

Section 2.

(1)

(2)

(a)

(b)

(c)

(d)

1.

2.

(3)

831 KAR 3:050.Examinations.

RELATES TO:

STATUTORY AUTHORITY:

CERTIFICATION STATEMENT:

NECESSITY, FUNCTION, AND CONFORMITY:

Section 1.

(1)

(a)

(b)

(2)

(3)

Section 2.

(1)

(2)

(a)

(b)

(c)

(d)

1.

2.

(3)