Ch. 594 LAWS OF MARYLAND
15.5-506.

(A) AN APPLICANT WHO OTHERWISE QUALIFIES FOR A
CERTIFICATE IS ENTITLED TO BE EXAMINED AS PROVIDED IN THIS
SECTION.

(B) THE COMMISSION PERIODICALLY SHALL GIVE EXAMINATIONS
TO APPLICANTS AT THE TIMES AND PLACES THAT THE COMMISSION
DETERMINES.

(C) THE COMMISSION SHALL GIVE EACH QUALIFIED APPLICANT
NOTICE OF THE TIME AND PLACE OF EXAMINATION.

(D) TO TAKE AN EXAMINATION, AN APPLICANT SHALL PAY A $50
EXAMINATION FEE TO THE COMMISSION.

(E) (1) EXCEPT AS OTHERWISE PROVIDED IN THIS SUBSECTION,
THE COMMISSION SHALL DETERMINE THE SCOPE AND THE PASSING
SCORE FOR EXAMINATIONS GIVEN UNDER THIS SUBTITLE.

(2) THE FORM OF AN EXAMINATION SHALL BE WRITTEN.

(3) AN EXAMINATION SHALL TEST KNOWLEDGE OF:

(I) TECHNICAL TERMS COMMONLY USED IN REAL
ESTATE APPRAISING AND ECONOMIC CONCEPTS APPLICABLE TO REAL
ESTATE;

(II) REAL ESTATE APPRAISAL THEORY AND PRACTICE
AND REAL ESTATE APPRAISAL PROCESS;

(III) STANDARDS FOR THE DEVELOPMENT AND
COMMUNICATION OF REAL ESTATE APPRAISALS;

(IV) STANDARDS OF CONDUCT THAT THE COMMISSION
ADOPTS UNDER § 15.5-208 OF THIS TITLE;

(V) THEORIES OF DEPRECIATION, COST ESTIMATING,
METHODS OF CAPITALIZATION, THE MATHEMATICS OF REAL ESTATE
APPRAISAL, AND OTHER PRINCIPLES THAT ARE APPROPRIATE FOR THE
CERTIFICATE FOR WHICH THE APPLICANT APPLIES;

(VI) BASIC REAL ESTATE LAW; AND

(VII) MISCONDUCT FOR WHICH DISCIPLINARY
PROCEEDINGS MAY BE STARTED AGAINST A CERTIFIED REAL ESTATE
APPRAISER FOR RESIDENTIAL REAL ESTATE OR A CERTIFIED REAL
ESTATE APPRAISER FOR GENERAL REAL ESTATE.

15.5-507.

(A) SUBJECT TO THE PROVISIONS OF THIS SECTION, THE
COMMISSION MAY WAIVE THE EXAMINATION REQUIREMENTS OF THIS

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