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Review Theory - General

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 general real property appraisers
  • Attorneys
  • Accountants
  • Government agency reviewers
  • Users of appraisal services
Description

Review Theory—General is the fundamental review course that all reviewers of assignments involving income-producing and other nonresidential properties should have in their educational background. It is a required course for individuals pursuing the Appraisal Institute General Review Designation (AI-GRS, Appraisal Institute General Review Specialist).

At the core of this course is the review process. Participants explore the seven steps outlined in this process as they apply to nonresidential properties. 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 provides a refresher on key valuation skills often required of reviewers, such as measuring financial feasibility in highest and best use analysis and various applications of the income capitalization approach. In addition, the course covers reporting reviews for income-producing property and the use of commercial review report forms, narrative reports, and oral review reports. Participants will gain practice in writing a scope of work statement for three types of assignments. They will also develop a template for a narrative review report on a property type of their choice (office, retail, apartment, etc.). By taking this course, participants will gain invaluable confidence in the fundamentals of review.
Objectives
  • 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 None. However, please note that this course was written for appraisers at the certified general level.
Classroom Online Synchronous


Click below for details of state approval hours for this program

Program State Approvals

  • Attended Only:

    275.00

  • Attended Only:

    275.00

  • Attended Only:

    275.00

  • Attend and Pass Exam:

    375.00

  • Attend and Pass Exam:

    375.00

  • Attend and Pass Exam:

    375.00

  • Pass Exam Only:

    100.00

  • Pass Exam Only:

    100.00

  • Pass Exam Only:

    100.00
30 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
3
Advanced
  • 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.
  • For help with the HP-12C calculator, take our online seminar Using Your HP-12C Financial Calculator.
  • HP-12C calculator User’s Manual.
 N/A
  • 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.
  • For help with the HP-12C calculator, take our online seminar Using Your HP-12C Financial Calculator.
  • HP-12C calculator User’s Manual.
A laptop computer is required. Word processing software must be installed and operational. This course includes writing exercises. Online Requirements

Live Online Education FAQ

A laptop computer is required. Word processing software must be installed and operational. This course includes writing exercises.

Course Materials Include:

  • Course Handbook (431 pp.)
  • Suggested Solutions (172 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 Advanced Education courses: Review Theory—General and Review Case Studies—General. All others will pay full price.

Review Theory—General is required for individuals pursuing the Appraisal Institute General Review Designation (AI-GRS – Appraisal Institute – General Review Specialist). For more information regarding the requirements for the review designation, please click here.

If you are currently designated, view for 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 (431 pp.)
  • Suggested Solutions (172 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 Advanced Education courses: Review Theory—General and Review Case Studies—General. All others will pay full price.
 
Review Theory—General is required for individuals pursuing the Appraisal Institute General Review Designation (AI-GRS – Appraisal Institute – General Review Specialist). For more information regarding the requirements for the review designation, please click here.

If you are currently designated, view for 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.

 
Each live online synchronous session runs for 4.0 hours each day with at least 2 breaks during that time. The course runs for 8 half-days.

Connection Information

Several minutes after you register, you will receive second e-mail which includes instructions in how to connect to the synchronous sessions. If you did not receive the connection information, please check your junk, spam, or quarantine folder.

Connection e-mail reminders are sent 1 week, 1 day, and 1 hour prior to synchronous session start time.

For questions, please e-mail sync@appraisalinstitute.org or call (312) 335-4473.

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.
Challenge Exam

Classroom Offerings

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Synchronous Offerings

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