General Appraiser Income Approach/Part 2

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Students should check state approvals prior to registering for any Appraisal Institute program.

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Who should enroll
  • Those seeking general real property appraiser certification
  • Underwriters
  • Lenders
  • Assessors
Description After a diagnostic quiz on the six financial functions of one and a brief review, General Appraiser Income Approach/Part 2 opens with a thorough treatment of discounted cash flow (DCF) analysis. Topics include identifying components of a DCF, projecting cash flows, analyzing leases, solving for value in a variety of common situations, and supporting the discount rate. The effects of debt financing, including cash equivalence and equity analysis, are covered in detail. Income patterns and property models, including residual and other applications, are followed by material on how to select and support the discount rate. Also presented are the strengths and weaknesses of direct and yield capitalization. The final section reviews and summarizes the mathematical concepts involved with income capitalization and prepares the participant for not only the course exam but also the certification exam.

 

Objectives
  • Forecast incomes and expenses for a multiyear holding period.
  • Forecast reversions for a multiyear holding period.
  • Discount overall mortgage and equity cash flows to present value.
  • Use yield capitalization formulas to calculate present value.
  • Use data and sources to select and support risk-adjusted discount rates.
  • Solve problems in lease analysis, risk and investment analysis, leverage, and subdivision analysis.
  • Value partial interests.


Refer to this page for details of state approval hours for this course.

  • 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:

    200
  • Pass Exam Only:

    200
  • Pass Exam Only:

    200
27 hours
90
No
Yes
3
Intermediate
None specified

Online Education FAQ

Synchronous Requirements
National Registry of CPE SponsorsThe Appraisal Institute is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. 

State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Nashville, TN, 37219-2417. Web site: www.nasba.org

Delivery Method: Group-Live


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.

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

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.

Technology-Based Education Student Disclaimer
I agree to the terms and policies set forth under the Appraisal Institute Education Policy. I also certify that I am the person identified under Personal Data and that I will personally complete each assigned component 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.

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.



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

No offerings at this time

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