If you are considering a career in professional valuation services, your journey should begin with Basic Appraisal Principles. This four-day course will introduce you to real property concepts and characteristics, legal considerations, influences on real estate values, types of value, economic principles, market area analysis, highest and best use, and ethical considerations. The course will provide a solid foundation in basic appraisal principles no matter what appraisal specialty you pursue. By successfully completing the course and exam, you will have met most states' education requirements in the content area identified as basic appraisal principles.
Students have 45 days from the session start date to complete the course material for this program. This course is completed at the student's own pace.
Do I have to take the course exam?
You are required to complete and pass a proctored offline exam if:
• you are taking this class to meet state qualifying education requirements
• you are taking this class to meet the qualifying education requirements for an Appraisal Institute designation
You may be required to complete and pass a proctored offline exam if:
• you are taking this class to meet state continuing education requirements. Most states do not require the exam for CE credit, but please confirm this with your state licensing board.
You are not required to complete and pass a proctored offline exam if:
• if you are taking this class to meet the continuing education requirements of an Appraisal Institute designation
You will have 90 days from the time that you complete the course to take the proctored exam. Testing center locations in your area can be found by clicking on this link: www.pearsonvue.com/ai.
Module 1: The Appraiser and Public Trust
Module 2: The Nature of Real Estate
Module 3: Rights and Interests in Real Estate
Module 4: Legal Description of Real Estate
Module 5: Forms of Property Ownership
Module 6: Controls on Ownership
Module 7: Contracts, Leases, and Deeds
Module 8: The Nature of Value
Module 9: Market Value
Module 10: Influences on Real Estate Values
Module 11: Economic Principles
Module 12: Applied Economics in Real Estate
Module 13: Market Fundamentals
Module 14: Real Estate Math Basics
Module 15: Math Applications in Real Estate
Module 16: Measurements and Statistics
Module 17: Introduction to Financial Calculations
Module 18: Time Value of Money Concepts
Module 19: Analyzing Market Areas
Module 20: The Nature of Appraisals
Module 21: Appraisal Principles in Practice
Module 22: Exam Content Review
• Recognize the components of ethical and competent appraisal practice.
AI CE Credit for Designated members and Practicing Affiliates
• Recognize the distinctive differences among land, real property, real estate, and personal property.
• Recognize and identify the three major land description systems.
• Recognize the major components that appear in all definitions of market value.
• Recognize the definitions of the economic principles of change, anticipation, supply and demand, competition, substitution, balance, externalities, and highest and best use.
• Solve basic real estate math problems in fractions, decimals, and percents.
• Solve for mean, median and mode.
• Use a financial calculator to perform mortgage calculations and to solve problems in simple and compound interest.
• Recognize the definitions of appraisal practice, valuation services, appraisal review, and appraisal consulting.
• Identify the basic components in the appraisers scope of work decision.
• Attend Only = 150 points
• Attend and Pass Exam = 200 points
• Pass Exam Only = 150 points
The cost of this course includes a student manual that will be available for immediate download via the knowledge center.
A financial calculator is required. The accepted model used in the course is the HP-12C. Candidates taking most AI exams may bring their own calculator to use during the exam. Candidates should be fully aware that AI courses are developed with HP12C keystrokes, and that using an HP12C is highly recommended.
IMPORTANT! You will be asked to clear the calculator's memory before and after the examination. Only one calculator is permitted in the testing room.
Laptops, cellular phones, tablets, iPads, wearable technology (smart watch, Apple Watch, Google Glass, etc.), and other devices that can store data or connect to the Internet are NOT permitted during the exam. In addition, all watches, wallets, bags, and purses must be removed and stored out of reach prior to taking 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
• The Appraisal of Real Estate, 14th ed.
• The Dictionary of Real Estate Appraisal, 5th ed.
Click Here for State Approvals
Richard C. DuBay, SRPA, SRA
I agree to the terms and policies set forth under the Appraisal Institute Online Education Policy. I also certify that I am the person identified above under Personal Data and that I will personally complete each assigned module of instruction and any examination(s). I understand and agree that if I misrepresent my identity or arrange for someone else to represent himself or herself as me at any time during the Appraisal Institute online course or seminar, I will be immediately removed from the course or seminar and I will not be entitled to any refund. I further understand that if I am a member of the Appraisal Institute and participated in any misrepresentation of identity, by affirmative act or failure to act, that I will be the subject of a peer review proceeding under Regulation No. 6 for violation of the Appraisal Institute's Code of Professional Ethics and Standard of Professional Appraisal Practice, and that such peer review proceeding may result in termination of my Appraisal Institute membership.
Please allow 1 hour after registration to start an online session in progress (on or after the session start date). Go to www.appraisalinstitute.org and log in with the username and password you used when you registered. You will automatically be taken to the "My Appraisal Institute" page. Near the middle of that page your course will be listed with a link next to it that says "Go To Class".