Review Theory - Residential

Some AI educational programs may not be approved in every state.

To register for this program, go to the bottom of the page.



Who should enroll
  • Certified residential real property appraisers
  • Attorneys
  • Accountants
  • Government agency reviewers
  • Users of appraisal services
Description

Review Theory—Residential is the fundamental review course that all reviewers of residential appraisals and reviews should have in their educational background. It is a required course for individuals pursuing the Appraisal Institute Residential Review Designation (AI-RRS, Appraisal Institute Residential Review Specialist).

At the core of this course is the review process. Participants explore the seven steps in the process as they apply to reviews of residential work including, but not limited to, those subject to GSE requirements. To be a reviewer, an appraiser must learn how to develop opinions of completeness, accuracy, adequacy, relevance, and reasonableness relative to the work under review. These opinions must be refined through tests of reasonableness to develop reconciled opinions of appropriateness and credibility.

The material addresses how requirements of the review process compare with those of the Fannie Mae Form 2000/Freddie Mac Form 1032, One-Unit Residential Review Form, as well as other GSE documents such as the Fannie Mae Selling Guide. Other topics include complex or challenging residential review assignments such as those involving limited data, nonconforming properties, less common ownership types, or unusual properties such as geodesic domes and hobby farms. By taking this course, participants will gain invaluable confidence in the fundamentals of review.

Objectives
  • Define review.
  • Distinguish between appraisal and review.
  • Evaluate the necessary knowledge and skills required to complete reviews.
  • Distinguish between trivial and material errors.
  • Identify types of review assignments and the process employed in the reviewer’s scope of work.
  • Recognize regulatory compliance issues for review appraisers.
  • Identify the steps necessary to communicate the review effectively.
Prerequisites
Required:
 

None. However, this course was written for appraisers at the certified residential level.

Recommended:

Residential Market Analysis and Highest & Best Use



Click below for details of state approval hours for this program

Program State Approvals
  • Attended Only:

    175
  • Attended Only:

    175
  • Attended Only:

    175
  • Attend and Pass Exam:

    225
  • Attend and Pass Exam:

    225
  • Attend and Pass Exam:

    225
  • Pass Exam Only:

    100
  • Pass Exam Only:

    100
  • Pass Exam Only:

    100
15 hours
Yes. After you register for this class, please go to your Education and Events page for
details on what you must complete BEFORE class begins.
 
To access your Education and Events page, log on to the Appraisal Institute website at https://ai.appraisalinstitute.org/eweb (click on the three horizontal lines to the left of the AI logo and select “My
AI Account” from the drop-down menu).
 
Yes
2
Advanced
A basic-function calculator is required. You may use a financial calculator if you wish. N/A A basic-function calculator is required. You may use a financial calculator if you wish.

Course Materials Include:

  • Course Handbook (354 pp.)
  • Pre-Class Downloads (3 MB)
  • Pre-Class Memo (1 p.)

Designated members, Candidates for Designation, and Practicing Affiliates will receive the discounted AI Price for review designation education courses: Review Theory—Residential and Review Case Studies—Residential. All others will pay full price. Review Theory—Residential is required for individuals pursuing the Appraisal Institute Residential Review Designation (AI-RRS – Appraisal Institute Residential Review Specialist). See more information regarding the requirements for the review designation.

If you are currently designated, view more information on the alternative path.

If you are currently a Candidate for Designation, or wish to become a Candidate, view here for the specific designation requirements.
 
You will be asked to clear the calculator’s memory before and after the examination. Only one calculator is permitted in the testing room. Examinees taking most AI exams may bring their own calculator to use during the exam. 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.
Course Materials Include:
  • Course Handbook (354 pp.)
  • Pre-Class Downloads (3 MB)
  • Pre-Class Memo (1 p.)
Designated members, Candidates for Designation, and Practicing Affiliates will receive the discounted AI Price for review designation education courses: Review Theory—Residential and Review Case Studies—Residential. All others will pay full price. Review Theory—Residential is required for individuals pursuing the Appraisal Institute Residential Review Designation (AI-RRS – Appraisal Institute Residential Review Specialist). See more information regarding the requirements for the review designation.
 
  • If you are currently a Candidate for Designation, or wish to become a Candidate, view here for the specific designation requirements.
 
Disclaimer
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 Designated member, Candidate for Designation, Practicing Affiliate, or Affiliate of the Appraisal Institute and participated in any misrepresentation of identity, by affirmative act or failure to act, I will be the subject of a peer review proceeding under Regulation No. 6 for violation of the Code of Professional Ethics and Standards of Professional Practice of the Appraisal Institute, and such peer review proceeding may result in termination of my Appraisal Institute membership, candidacy, and/or affiliation.


This course allows the option to test out of the course. Click to Challenge examination.


NOTE: States DO NOT  provide credit for challenge examinations.

Classroom Offerings

Sponsor Date Location Instructor(s)

Synchronous Offerings

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