International Equivalency Course: General

• 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.

Program Overview:
Online Syllabus

Assignments:
No

Equipment:

• 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.

Additional Information:

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.

   

Requirements:

Online Education FAQ

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

• 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.