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International Equivalency Course: General Education Schedule (PDF)

Education Catalog (PDF)
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Students should check state approvals prior to registering for any Appraisal Institute program.

ClassroomOn-Demand Online EducationLive Online (Synchronous)

This course has been designed to aid professional real estate appraisers located throughout the world in establishing a standardized measurement of their individual valuation knowledge, expertise, and experience. It is a theoretical-based curriculum with descriptions, examples, and discussions that will stimulate real estate valuation professionals from any region.

This course is also intended to provide foundational or general education requirements necessary to progress to the more stringent, upper-division courses that need to be completed to obtain your MAI designation, offered through the Appraisal Institute. The MAI designation is recognized as the preeminent general appraisal professional designation and recognized by governments, regulators, and practitioners around the globe.

In this course a general understanding of appraisal theories, principals, and analysis techniques will be introduced, described, and tested.The course outline includes an introduction, ten interactive modules, homework problems, a course conclusion, and an exam. Each module walks the student through a logical progression of thought and practice. Each portion of the course is intended to be applicable to International Valuation Standards (IVS), the Uniform Standards of Professional Appraisal Practice (USPAP), and other valuation standards utilized by individual governments and jurisdictions. We hope the best for you and your career and look forward to working with you as you endeavor to meet your professional goals.

To receive the equivalency credit, do I have to complete the course and pass the exam, or can I challenge and pass the exam only, without completing the course?
The requirement is that a general Candidate whose principal place of business is outside of the United States has to pass the examination associated with the International Equivalency Course: General. You are not required to complete the course. If you pass this examination, you will be deemed to have satisfied the Level I education requirement for the MAI designation. However, the Admissions Committee of the Appraisal Institute highly recommends completing the course prior to taking the exam, as it may increase the exam success rate.

Register for course with examination: Click here.You will have 90 days from the time that you complete the course to take the proctored exam.
Register for examination only:
Please contact

About the Examination:

  • Testing center locations in your area can be found by clicking on this link: Once you complete the course or register for the exam only, the testing center will contact you with processes and regulations regarding the examination.
  • The exam is a 50 question multiple choice exam for which you have three hours to complete. You must score 70% or over to pass.
  • If you receive a letter indicating that you have failed an exam, you have the opportunity to retake the exam twice within one year of the date of the original exam. If you fail the re-exam twice, you are then required to retake that course before the examination may be taken again.

Cost: $250.00 (US) Member Price $250.00 (US) Regular Price


  • Module 1: Concept Highlights
  • Module 2: Highest and Best Use and Land Valuation
  • Module 3: Subdivision Development Analysis and Cost Estimates
  • Module 4: Depreciation
  • Module 5: Sales Comparison Approach - Introduction
  • Module 6: Sales Comparison Approach - Analysis
  • Module 7: Income, Vacancy, and Expense Estimates
  • Module 8: Rates and Procedures Used in Capitalization
  • Module 9: Yield Capitalization Applications
  • Module 10: Course Review
Learning Objectives:
  • Identify the seven steps of the valuation process and the questions that need to be asked at each step.
  • Describe the sections of an appraisal report and identify the items typically addressed in each section.
  • Identify the relationships between the three approaches to value and the appraisal principles of substitution, supply and demand, balance, and externalities.
  • List the steps needed for independent analysis.

AI CE Credit for Designated members and Practicing Affiliates
• Attend Only = 180 points
• Attend and Pass Exam = 195 points

General [Gen]

Required Technology
A financial calculator is required for this class. You can take a financial calculator into the exam provided you clear the memory banks before hand. The allowed calculators are: HP 10b, HP 10bii, HP 12c, HP 17bii, HP17bii+, HP 19bii calculators or Texas Instruments (TI) BA II PLUS. Other calculators are prohibited.

Recommended Text
None Specified.

AI Price: $ 250.00
Full Price: $ 250.00

Click Here for State Approvals

Kenneth G. Foltz, MAI, 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.

Additional Information
Please allow 1 hour after registration to start an online session in progress (on or after the session start date). Go to 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".

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