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After a diagnostic quiz on the six financial functions of one and a brief review, General Appraiser Income Approach/Part 2 opens with a thorough treatment of discounted cash flow (DCF) analysis. Topics include identifying components of a DCF, projecting cash flows, analyzing leases, solving for value in a variety of common situations, and supporting the discount rate. The effects of debt financing including cash equivalence and equity analysis are covered in detail. Income patterns and property models including residual and other applications are followed by selecting and supporting the discount rate. Also presented are the strengths and weaknesses of direct and yield capitalization. The final section reviews and summarizes the mathematical concepts involved with income capitalization and prepares the participant for not only the course exam but also the certification exam.
 | The 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 |
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Program Overview
Table of Contents and Overview [PDF] 
Course Schedule [PDF]
Recommended Text
Capitalization Theory and Techniques Study Guide, 3rd ed.
Mathematics for Real Estate Appraisers
Rates and Ratios Used in the Income Capitalization Approach
The Appraisal of Real Estate, 13th ed.
Ordering Information
To order books and other materials go to
our store
Tuition
Please contact the sponsoring chapter for information on fees applicable to chapter programs.
Required
HP12C calculator HP12C calculator user's manual You must be familiar with calculator operation when the course begins. Answers to problems in course material are shown using the HP12C. Do not come to class expecting to be taught how to use a financial calculator. Free Review—Using a Financial Calculator; Symbols and Formulas, Capitalization Selection Tree, and Sample Problems; and Financial Calculator Practice ExercisesFor additional help with the HP12C calculator, take our online seminar, Using Your HP12C Financial Calculator.Laptops NOT REQUIRED
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Appraisal Institute Hours
30 hours (including 3-hour exam)
To receive credit, participants must attend 100% of the program.
AI CE Credit for Designated Members and Candidates for Designation
This program is approved for 1 hour of Appraisal Institute CE credit for every hour taken.
Prerequisites
Basic Appraisal Principles
Basic Appraisal Procedures
General Appraiser Income Approach/Part 1
Students must sign a waiver at the beginning of the course stating that they have the prerequisites. If they do not, they will not hold the Appraisal Institute responsible and will not expect to receive special attention during the course.
Who Should Enroll
Those seeking general Appraiser Certification, underwriters, lenders, and assessors.
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Class Schedule & Locations
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06/10/2013 - 06/13/2013
Location: San Diego, CA
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Sponsor: San Diego
Contact: Patti Kreutzer, Executive Director, (858) 292-7324
Instructor: Lennhoff, David C., MAI, SRA
06/24/2013 - 06/27/2013
Location: St. Paul, MN
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Sponsor: North Star
Contact: Maribelle Cushman, (651) 633-0676
Instructor: Dowling, Vincent M., MAI, SRA & Pending, Instructor
07/10/2013 - 07/13/2013
Location: Clive, IA
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Sponsor: Iowa
Contact: Wayne Hennessey, (515) 971-5285
Instructor: Potts Sr., Douglas A., MAI
07/23/2013 - 07/26/2013
Location: Ontario, CA
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Sponsor: Southern California
Contact: Lianna Chaparyan / Linda Zimmer, (818) 957-5111x20
Instructor: Dowling, Vincent M., MAI, SRA
08/13/2013 - 08/16/2013
Location: Atlanta, GA
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Sponsor: Atlanta Area
Contact: Suzanne Brockway, (770) 803-0024
Instructor: Lennhoff, David C., MAI, SRA & Vernor, PhD, James D., MAI
09/10/2013 - 09/13/2013
Location: Nashville, TN
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Sponsor: Greater Tennessee
Contact: Myra Withers, (615) 916-9700
Instructor: Sellers, Leslie P., MAI, SRA
09/23/2013 - 09/26/2013
Location: Chicago, IL
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Sponsor: Chicago
Contact: LA Anderson, (312) 616-9406
Instructor: Urubek, John H., MAI
10/18/2013 - 10/22/2013
Location: Houston, TX
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Sponsor: Houston
Contact: Lori Wilkins, (713) 668-1757
Instructor: Moorman, Robert L., MAI
10/23/2013 - 10/26/2013
Location: Ft. Washington, PA
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Sponsor: Philadelphia Metropolitan
Contact: Tiffany L. Lewis, (610) 326-0100
Instructor: Hughes III, Albert R., MAI
11/05/2013 - 11/08/2013
Location: Kent, WA
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Sponsor: Seattle
Contact: Darcy Galvan, (206) 622-8425
Instructor: DeWeese, Gary S., MAI & Safer, Allen N., MAI
11/18/2013 - 11/21/2013
Location: Indianapolis, IN
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Sponsor: Hoosier State
Contact: Shannon O'Keefe, (317) 815-1340
Instructor: Scheidt, Don R., MAI, SRA & Wagner, Stephen S., MAI, SRA
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