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General Appraiser Income Approach/Part 1 Education Schedule (PDF)
Education Catalog (PDF)
Some AI educational programs may not be approved in every state.
Students should check state approvals prior to registering for any Appraisal Institute program.

ClassroomOn-Demand Online EducationLive Online (Synchronous)

After a brief review and introduction, General Appraiser Income Approach/Part 1 opens with a graphic treatment of the time value of money, the six financial functions of a dollar, and important associated concepts. A thorough, detailed analysis of gross income including leases and the various expenses appropriately deducted from gross income follows, with realistic case studies of several income property types. Direct capitalization is then presented using overall capitalization rates, band of investment, and residual techniques. Substantial class time is devoted to practicing the taught concepts to prepare participant for the exam.

National Registry of CPE SponsorsThe Appraisal Institute is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Nashville, TN, 37219-2417. Web site:

Delivery Method: Group-Live

Program Overview
• Table of Contents and Overview (PDF)
• Schedule (PDF)

Recommended Text
• Rates and Ratios Used in the Income Capitalization Approach
• Mathematics for Real Estate Appraisers
• Capitalization Theory and Techniques Study Guide, 3rd ed.
• The Dictionary of Real Estate Appraisal, 5th ed.
• The Appraisal of Real Estate, 14th ed.

Ordering Information
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Please contact the sponsoring chapter for information on fees applicable to chapter programs.

• A financial calculator is required. The accepted model used in the course is the HP-12C. Note: Cellular phones, tablets, iPads, and other devices that connect to the Internet are NOT permitted during the exam.
• HP-12C calculator user's manual
• You must be familiar with calculator operation when the course begins. Answers to problems in course material are shown using the HP-12C. Do not come to class expecting to be taught how to use a financial calculator.
• Free Review: Using a Financial Calculator; Formulas, Symbols, Math Review, and Sample Problems; and Financial Calculator Practice Exercises
• For additional help with the HP-12C calculator, take our online seminar, Using Your HP-12C Financial Calculator

AI CE Credit for Designated Members and Practicing Affiliates
• Attend Only = 150 points (general) or 175 points (residential)
• Attend and Pass = 200 points (general) or 225 points (residential)
• Pass Exam Only = 150 points (general) or 200 (residential)

Basic Appraisal Principles
Basic Appraisal Procedures

Students must sign a waiver at the beginning of the course stating that they have the prerequisites. If they do not, they will not hold the Appraisal Institute responsible and will not expect to receive special attention during the course.

Who Should Enroll
• Those seeking General Appraiser certification
• Underwriters
• Lenders
• Assessors

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Class Schedule & Location

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