Appraisal Institute MAI Designation and SRA Designation Requirements
This outline reflects an overview of the designation requirements for Associate Members admitted as of the dates listed below.
For specific information on their designation requirements, Associate Members should login to My Appraisal Institute to
view their Status Report.
Not an Associate Member yet? Take the first step towards earning the MAI or SRA by applying for Associate Membership. |
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MAI DESIGNATION
For general associate members admitted on or after January 1, 2008.
Below is a summary of MAI designation requirements. For complete information on requirements, refer to Regulation No. 1 and the MAI Procedure Manual. |
SRA DESIGNATION
For residential associate members admitted on or after January 1, 2005.
Below is a summary of SRA designation requirements. For complete information on requirements, refer to Regulation No. 2 and the SRA Procedure Manual. |
| Good Moral Character |
The Associate Member must have good moral character. |
| Membership in Good Standing |
The Associate Member must be an Associate Member in good standing. |
| Standards of Professional Practice (SPP) |
Must provide proof of passing an approved 15-hour National USPAP Course/Exam and pass the the Appraisal Institute's Business Practices and Ethics Course/Exam. |
| Required Courses/Exams |
Unless AQB criteria for general state certification or
certain degrees are attained, the following Level I Exams
are required:
- Basic Appraisal Principles
- Basic Appraisal Procedures
- General Appraiser Income Approach/Part I (or equivalent)
- General Appraiser Income Approach/Part II (or equivalent)
- General Appraiser Sales Comparison Approach (or equivalent)
- General Appraiser Site Valuation & Cost Approach (or equivalent)
- General Market Analysis and Highest and Best Use
- General Appraiser Report Writing & Case Studies
- Real Estate Finance, Statistics, Valuation Modeling
Credit must be received for the following Level II examinations:
NOTE: The associate member must attend the course Report Writing and Valuation Analysis.
Equivalents:
General Appraiser Income Approach/Part I AND General Appraiser Income Approach/Part II are equivalent to retired course, Basic Income Capitalization (40 hr) formerly 310
General Appraiser Sales Comparison Approach AND General Appraiser Site Valuation & Cost Approach are equivalent to retired course, General Applications (40 hr) formerly 320
General Market Analysis and Highest and Best Use is equivalent to retired course, Highest & Best Use and Market Analysis (40 hr) formerly 520
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Certified Exam: The residential associate member must pass the AQB approved Certified Residential Real Property Appraiser Examination.
Appraisal Institute Courses:
Appraisal Institute Examinations:
Total number of hours for Education MUST be at least 200 hours.
Suggested courses to complete education hours: Advanced Residential Report Writing/Part 2 (30 hours)
NOTE: The Appraisal Institute may offer an Equivalency Examination to substitute for the above examinations (other than Standards, Ethics and Report Writing). |
| College Degree Requirement |
At least a four-year college degree from an accredited college or university (documented by providing an official transcript sent directly from the college to the Associate and Affiliate Member Service Center). |
Associate degree or higher OR successfully pass the following from an accredited college:
- English Composition;
- Principles of Economics (Micro or Macro);
- Finance;
- Algebra, Geometry or higher mathematics;
- Statistics;
- Introduction to Computers - Word processing/spreadsheets; and
- Business or Real Estate Law.
The course hours must total at least 21 semester credit hours. If an accredited college, junior college, community college or university accepts the College-Level Examination Program (CLEP) examination(s) and issues a transcript for the exam, showing its approval, it will be considered as credit for the college course. |
| Demo Report |
Must receive credit for a demonstration appraisal report on an income producing property or receive credit for the research paper or three appraisal report alternative. |
Residential Demonstration Appraisal Report (narrative), Modular Demonstration of Knowledge, Residential Demonstration Report 45-Hour Package or General Demonstration Appraisal Report (not the research project or three appraisal report alternatives). |
| Comprehensive Exam |
Must pass the Appraisal Institute's General Comprehensive Examination. |
Not applicable. |
| Appraisal Experience |
The general associate member must receive credit for 4,500 hours of Specialized Experience, over at least a 36-month period.
Advisory Review: OPTIONAL |
3,000 hours of Residential Appraisal Experience (must cover at least a 24-month period)
Advisory Review: OPTIONAL |
