Review Theory - General

• 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.

Program Overview:
Table of Contents and Overview
Course Schedule

Assignments:

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.
• For help with the HP-12C calculator, take our online seminar Using Your HP-12C Financial Calculator.
• HP-12C calculator User’s Manual.

Additional Information:

Course Materials Include:

• Course Handbook (429 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.

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

Recommended Documents and Texts:

• Uniform Standards of Professional Appraisal Practice (current edition)
• Appraisal Institute Standards of Valuation Practice (SVP) (current edition)
• Review Theory and Procedures: A Systematic Approach to Review in Real Property Valuation
• Appraising the Appraisal: The Art of Appraisal Review, 2nd ed.
• The Appraisal of Real Estate, 15th ed.

Other Useful Texts:

• Capitalization Theory and Techniques Study Guide, 3rd ed.
• Market Analysis for Real Estate, 2nd ed.
• Subdivision Valuation, 2nd ed.
• Scope of Work, 3rd ed.
• The Dictionary of Real Estate Appraisal, 7th ed.
• The Appraiser’s Workbook, 2nd ed. [out of print but available through online sources].