Basic Appraisal Principles

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

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

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



Who should enroll
  • Beginning real property appraisers
  • Real estate professionals
  • Users of appraisal services
  • College students
  • Accountants
Description

If you are considering a career in professional valuation services, your journey should begin with Basic Appraisal Principles. This 30-hour course will introduce you to real property concepts and characteristics, legal considerations, influences on real estate values, types of value, economic principles, market area analysis, highest and best use, and ethical considerations. The course should provide a solid foundation in basic appraisal principles no matter what appraisal specialty you pursue. By successfully completing the course and exam, you will have met most states’ education requirements in the content area identified as basic appraisal principles.

Co-developed by the Appraisal Institute, ASA, and ASFMRA

 

 

Objectives
  • Recognize the components of ethical and competent appraisal practice.
  • Recognize the distinctive differences among land, real property, real estate, and personal property.
  • Recognize and identify the three major land description systems.
  • Recognize the major components that appear in all definitions of market value.
  • Recognize the definitions of the economic principles of change, anticipation, supply and demand, competition, substitution, balance, externalities, and highest and best use.
  • Solve basic real estate math problems in fractions, decimals, and percentages.
  • Solve for mean, median, and mode.
  • Use a financial calculator to perform mortgage calculations and to solve problems in simple and compound interest.
  • Recognize the definitions of appraisal practice, valuation services, appraisal review, and other key terms.
  • Identify the basic components in the appraiser’s scope of work decision.
Prerequisites None


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

  • Attended Only:

    150
  • Attended Only:

    150
  • Attended Only:

    150
  • Attend and Pass Exam:

    200
  • Attend and Pass Exam:

    200
  • Attend and Pass Exam:

    200
  • Pass Exam Only:

    150
  • Pass Exam Only:

    150
  • Pass Exam Only:

    150
28 hours
90
No
Yes
2
Basic
  • 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, take our online seminar Using Your HP-12C Financial Calculator
  • HP-12C calculator User’s Manual
Course Materials Include:
  • Course Handbook (432 pp.)
  • Suggested Solutions (160 pp.) 
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.
 

The cost of this course includes a course handbook that will be available for immediate download.

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.

Course Materials Include:
  • Course Handbook (432 pp.)
  • Suggested Solutions (160 pp.)
 


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

Register to take this online course:

Register Now