Basic Appraisal Principles

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

 

 

Sponsor Date Location Delivery Format Check
State Approvals
 
Appraisal Institute On Demand Online  Check Register
North Star Chapter July 11-14, 2022 St. Cloud, MN Classroom  Check Register
Appraisal Institute July 11-21, 2022 Synchronous  Check Register
Chicago Chapter August 15-18, 2022 Chicago, IL Classroom  Check Register
Appraisal Institute September 06-16, 2022 Synchronous  Check Register
Massachusetts/Rhode Island and Maine Chapter September 16-24, 2022 Braintree, MA Classroom  Check Register

Program State Approval & Hours

Some AI educational programs may not be approved in every state and every delivery format. To see a list of all state approvals across all formats for this course, please use the link below.

View all approvals for this course

Who should Enroll

  • Beginning real property appraisers
  • Real estate professionals
  • Users of appraisal services
  • College students
  • Accountants

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

Exam

Yes, 2 hours

Level

Basic

Appraisal Institute CE Points

Attend: 150 AI Points,  Attend and Pass Exam: 200 AI Points,  Pass Only: 150 AI Points

Class Time

28 hours

Assignments

No

Program Overview

Classroom & Synchronous

Online & Synchronous

Required and/or Recommended Equipment

Classroom & Synchronous

Online
  • 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

    System Requirements

    Classroom & Synchronous
    None

    Online

    Synchronous

Additional Information

Classroom & Synchronous
Course Materials Include:
  • Course Handbook (430 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.
 

Online

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.

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.


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

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