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