International Equivalency Course: General

This course has been designed to aid professional real property valuers located throughout the world in establishing a standardized measurement of their individual valuation knowledge, expertise, and experience. This theory-based curriculum includes descriptions, examples, and discussions that will stimulate real property 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, which is conferred by the Appraisal Institute. The MAI designation is recognized by governments, regulators, and practitioners around the globe as the preeminent general appraiser professional designation.

In this course, a general understanding of appraisal theories, principles, and analysis techniques will be introduced, described, and tested. The course outline includes an introduction, 10 interactive modules, homework problems, a course conclusion, and an exam. Each module walks the participant 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 used by individual governments and jurisdictions. We wish the best for you in your career and look forward to working with you as you endeavor to meet your professional goals.

International valuers who wish to pursue the MAI designation

• Identify the seven steps of the valuation process and the questions that need to be asked at each step.    
• Describe the sections of a valuation 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.

• Basic Appraisal Principles
• Basic Appraisal Procedures
• General Appraiser Income Approach/Part 1

Yes, 3 hours

Intermediate/Advanced

Attend: 180 AI Points,  Attend and Pass Exam: 195 AI Points,  Pass Only: 180 AI Points

37 hours

No

Online Syllabus

• A financial calculator is required. The accepted model used in the program is the HP-12C. AI education programs that require a financial calculator are developed with HP-12C keystrokes; using this model is highly recommended.
• You must be familiar with calculator operation when the program begins. Do not enroll 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.
• HP-12C calculator User’s Manual.

Online Education FAQ

Exam:

• You will have 90 days from the time that you complete the course to take the proctored, offline exam. 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.
• Testing center locations in your area can be found by clicking on this link: www.pearsonvue.com/ai.
• Exam FAQ
• 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 re-take the course before the examination may be taken again.

 

Equivalency Credit Without Course:
To receive the equivalency credit, do you have to complete the course and pass the exam, or can you 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 examination only: Please contact international@appraisalinstitute.org.

   

Online Course Access
Go to www.appraisalinstitute.org and log in with the username and password you used when you registered. Click on the red “My Account” button if you are not automatically taken to your account page.
1. Click "Education and Events" on the right navigation menu.
2. Find the course under the “Online Courses” heading and click the “Begin” button.
IMPORTANT NOTE: Once this button is clicked, your access length time (e.g. 90 days) will begin. Only click when you intend to start the course. If you are returning, once you have started the course, click the “Continue” button to continue.

Other Details
For information about how on demand online education programs work, registration and cancellation policies, and other details, see our On Demand Online Education Frequently Asked Questions.

• The Appraisal of Real Estate, 15th ed.
• The Dictionary of Real Estate Appraisal, 6th ed.
• Capitalization Theory and Techniques, Study Guide, 3rd ed.
• The Appraiser Workbook, 2nd ed.