PP202 Development of a Personal Property Appraisal: Research and Analysis

Includes Multiple Live Events. The next is on 07/29/2024 at 10:00 AM (EDT)

2024 Personal Property Appraisal Summer Camp

To register for all four Personal Property Principles of Valuation classes (PP201, PP202, PP203, and PP204) and save $500, please click here.

Class Date/Time 

Monday, July 29, 2024 - Friday, August 2, 2024
10:00am - 6:00pm

Class registration will close Monday, July 22, 2024.

Registration Includes

  • One registrant log-in to the live sessions
  • Electronic student materials

Class Format

PP202 is being presented online via Zoom and will be taught by a live instructor over the course of three days with an exam on the fourth day. Students will meet virtually with the instructor over the internet and will engage in discussions, exercises, and post-session assignments. 

Students will need to have their webcams enabled for the duration of the class.

Class Schedule 

All Times are Eastern US

Session 1 - Monday, July 29 - 10:00am - 6:00pm
Session 2 - Wednesday, July 31 - 10:00am - 6:00pm
Session 3 - Friday, August 2 - 10:00am - 6:00pm
Exam Proctoring - Monday, August 5 - 10:00am - 1:00pm

Please note: Partial credit will not be awarded for this offering. Students must participate in three (3) live online sessions to complete the course and receive full credit. The sessions will not be recorded and/or made available after the class.

Continuing Education (CE)

Class provides 28.8 ASA CE Instructional Hours and 3 Exam Hours.

Additional Information 

ASA-accredited members (AM, ASA, FASA) who would like to attend this class will receive a 50% discount. This discount will be automatically applied at checkout. 

Course Description

PP202 is the second class in the Principles of Valuation course of study of the American Society of Appraisers (ASA) for Personal Property Appraisers. The PP202 class covers the development of the scope of work for appraisal assignments, including methods of research and analysis of markets, and Approaches to Value. This course also provides students with expanded appraisal terminology. Students research the property they selected in PG201 and learn to analyze the data to conclude value - they will learn to communicate that information in a professional appraisal report in PP203. The class instructor will be available to assist in final selection of the property. Note: The property should have a Replacement Value of at least $5,000.00 but not exceeding $250,000.00. This course is a prerequisite for PP203. Successful completion of PP201 is a prerequisite for this course. 

Instructional Methods

Instructor will present material through lecture and PowerPoint as well as classroom exercises and group discussions. Overnight assignments may be given for review and discussion, as well as for the next class.

Course Audience

This course provides individuals wishing to become appraisers, or related professionals interested in augmenting their valuation skills, with the second course introducing the research and appraisal development concepts necessary for appraisal practice. Candidates who have previously successfully completed this course and designated appraisers may wish to retake this class to brush up and stay informed about the currently accepted appraisal research and development requirements.

Learning Level 


Learning Outcomes 

Upon completion of this course, students will gain a solid knowledge of: 

  • The scope of work process
  • Research methods Analysis of markets and sales
  • Approaches to value
  • Developing the workfile for the appraisal assignment
  • Review and expansion of appraisal terminology

Continuing Education and Contact Hours

28.8 ASA CE Instructional Hours and 3 Exam Hours


Students must successfully complete PP201 prior to registering for PP202.

Required Reading Prior to Class

ASA Monographs

Students should purchase, download, and read Monographs #5, #6, and #7 from The Appraisal of Personal Property Monograph Series.

Previously read Monographs should also be reviewed.

Monographs are available for purchase here. Please note: monographs must be downloaded within three (3) days of purchase.


The current edition of the Uniform Standards of Professional Appraisal Practice (USPAP) and the USPAP Guidance and Reference Manual must be purchased and brought to class. Prior to class, students should read:

  • The Scope of Work Rule - USPAP
  • The Definitions - USPAP
  • Standard 7 - USPAP
  • Advisory Opinions 28 and 29 - USPAP Guidance and Reference Manual

ASA members can purchase the USPAP book here. Non-members can purchase the book directly from The Appraisal Foundation here.

The USPAP Guidance and Reference Manual can be purchased from The Appraisal Foundation here.

Additional Required Reading

McNulty, Tom, Art Market Research - 2nd Edition. Chapters 1-4, 6, 8, and 9 (fine art) or chapters 1-3, 5, and 7-9 (decorative art). 

Recommended Reading

Lanmon, Dwight P. Evaluating Your Collection: The 14 Points of Connoisseurship, 1999.

Southeastern Registrars Association. Basic Condition Reporting, A Handbook, 5th ed., 2022


All course materials included with your registration are PDF Download Only items made available to students prior to the start of the class and are not for resale or distribution. All downloadable materials are accessible via your education dashboard (login required). Once eMaterials have been posted for download, the class is no longer refundable.

Accessing eMaterials

eMaterials are provided electronically in PDF format and posted to the class within the Education Dashboard for all registrants to securely access prior to the start of the class. Attendees should come to class prepared with an electronic or printed copy of all eMaterials to use as a reference. OnDemand course registrants receive access to materials immediately following registration.

PDF course materials are presented in color, are bookmarked, and comment enabled. When opting to print downloaded materials, it is recommended that personal print settings be adjusted to print in black and white (or grayscale) and consider printing double-sided on recycled paper.

Certificate of Completion

Please allow 5-10 business day following successful completion of the course or final exam to receive a formal status notification and access to a certificate of completion. The certificate will be available to view and/or download from within the class listed in your Education Dashboard.

Please read the following information in its entirety to ensure a successful exam experience. 

  1. ASA requires the use of a PC/Mac/laptop with webcam capabilities in order to take your online exam. Mobile devices are not acceptable.
  2. The day of your exam, please login to your online open examination session via the Zoom link/details within the Contents tab above. 
  3. Make sure your webcam is on and that you are muted.
  4. Your examination session will be monitored by an online proctor (either an ASA staff member or an instructor). This individual will provide you with their contact information should you need to reach them during the exam.
  5. Your exam may be accessed via the class page on your dashboard.
  6. PLEASE NOTE – You may not reference any of the course materials or classroom notes, nor may you access any websites or any other resources during the exam.
  7. Lastly, ASA has transitioned to online exams to accommodate the continuation of learning. In the unlikely event you run into any technical issues or you are inadvertently kicked out of the exam, we STRONGLY recommend you keep a written record of all your answers on a separate piece of paper as you take the exam. In case there is an unforeseen issue, you will have your answers at the ready to reload into the exam software or to send to ASA via email as backup.

Financial Assistance

ASA’s Educational Foundation recognizes students who choose to invest their time in appraisal studies by providing assistance to students demonstrating a financial need. Please visit the Educational Foundation's webpage for more information and to download an application.


Zoom Session #1
07/29/2024 at 10:00 AM (EDT)  |  480 minutes
07/29/2024 at 10:00 AM (EDT)  |  480 minutes
Zoom Session #2
07/31/2024 at 10:00 AM (EDT)  |  480 minutes
07/31/2024 at 10:00 AM (EDT)  |  480 minutes
Zoom Session #3
08/02/2024 at 10:00 AM (EDT)  |  480 minutes
08/02/2024 at 10:00 AM (EDT)  |  480 minutes
PP202 Class Evaluation
18 Questions
18 Questions We appreciate you taking the time to complete this course evaluation. Your feedback is vital to ASA to provide quality education and courses. Thank you in advance for your valuable feedback as it will continue to help ASA shape future educational initiatives. Sincerely, The ASA Education Team
Exam Proctoring Session
08/05/2024 at 10:00 AM (EDT)  |  180 minutes
08/05/2024 at 10:00 AM (EDT)  |  180 minutes
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PP202 Exam
100 Questions  |  1 attempt  |  180 minute limit  |  75/100 points to pass  |  Graded as Pass/Fail
100 Questions  |  1 attempt  |  180 minute limit  |  75/100 points to pass  |  Graded as Pass/Fail
Exam Acknowledgement
PP202 Course Certificate
31.80 CE credits  |  Certificate available
31.80 CE credits  |  Certificate available Open certificate for the option to print.