Basic Appraisal Principles

• 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.

Program Overview:
Table of Contents and Overview
Course Schedule

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 Using Your HP-12C Financial Calculator.
• HP-12C calculator User’s Manual.
  

Additional Information:

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

Requirements:
None

• The Appraisal of Real Estate, 15th ed.
• The Dictionary of Real Estate Appraisal, 7th ed.