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    General Appraiser Income Approach/Part 2

    Register
    On Demand
    Date
    On Demand
    Sponsor
    Appraisal Institute
    Location
    Instructor
    David C. Lennhoff, MAI, SRA, AI-GRS
    Jacinto A. Munoz, Jr., MAI, SRA, AI-GRS, AI-RRS
    Kenneth G. Foltz, MAI, SRA
    Larry T. Wright, MAI, SRA, AI-GRS
    Class Time
    27 hours
    Exam Time
    3 Hours
    Full Price
    $595.00
    AI Price
    $490.00
    Course Description
    After a diagnostic quiz on the six financial functions of one and a brief review, the course begins 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 material on how to select and support 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 you for not only the course exam but also the certification exam.

     

    Who Should Enroll
    • Those seeking general real property appraiser certification
    • Underwriters
    • Lenders
    • Assessors
    AI CE Points
    Attend:
    175
    Attend & Pass Exam:
    225
    Pass Only:
    200
    State Approvals
    State QE/CE Course & Exam Course Only Exam Only Delivery Format Approval Format Start Date Expire Date State Code
    AK CE 27 27 Online Online 06/13/2022 06/13/2025 18879
    AK QE 30 27 3 Online Online 06/13/2022 06/13/2025 18879
    AL CE 30 27 3 Online Online 10/01/2022 09/30/2024 C02797
    AL QE 30 27 3 Online Online 10/01/2022 09/30/2024 C02797
    AR CE 30 30 Online Online 07/26/2022 07/26/2024
    AR QE 33 30 3 Online Online 07/26/2022 07/26/2024
    AZ CE 30 27 3 Online Online 06/18/2022 06/18/2025 56996
    AZ QE 30 27 3 Online Online 06/18/2022 06/18/2025 56996
    CA CE 27 27 Online Online 12/11/2022 12/10/2026 10754200
    CA QE 30 27 3 Online Online 12/11/2022 12/10/2026 10754200
    CO CE 27 27 Online Online 06/29/2022 06/18/2025 2214
    CO CE 30 27 3 Online Online 06/29/2022 06/18/2025 2214
    CO QE 30 27 3 Online Online 06/29/2022 06/18/2025 2214
    CT CE 18 18 Online Online 09/13/2023 06/18/2025 AAL.001098
    CT QE 30 28 2 Online Online 09/05/2023 06/18/2025 APR.000309
    DC CE 27 27 Online Online 02/29/2024 02/28/2026 4018
    DC QE 30 27 3 Online Online 02/29/2024 02/28/2026 4018
    DE CE 30 27 3 Online Online 06/18/2022 06/18/2025 56996
    DE QE 30 27 3 Online Online 06/18/2022 06/18/2025 56996
    FL CE 20 20 Online Online 07/27/2023 07/27/2025 0009437
    FL QE 30 27 3 Online Online 07/24/2023 07/26/2025 0009437
    GA CE 30 27 3 Online Online 06/29/2022 60462
    GA CE 27 27 Online Online 06/29/2022 60461
    GA QE 30 27 3 Online Online 06/29/2022 60462
    HI CE 27 27 Online Online 01/01/2024 12/31/2024 23-501
    HI QE 30 27 3 Online Online 01/01/2024 12/31/2024 23-501
    IA CE 27 27 Online Online 06/29/2022 06/28/2025 A518-1103
    IA CE 30 27 3 Online Online 06/29/2022 06/28/2025 A518-1102
    IA QE 30 27 3 Online Online 06/29/2022 06/28/2025 A518-1104
    ID CE 27 27 Online Online 05/31/2022 06/18/2025
    ID QE 30 27 3 Online Online 05/31/2022 06/18/2025
    IL CE 27 27 Online Online 01/01/2023 12/31/2024 575.001543
    IL QE 30 27 3 Online Online 01/01/2023 12/31/2024 573.000544
    IN CE 30 27 3 Online Online 06/18/2022 06/18/2025 56996
    IN QE 30 27 3 Online Online 06/18/2022 06/18/2025 56996
    KS CE 27 27 Online Online 01/01/2024 12/31/2024 189.C24.R
    KS QE 30 27 3 Online Online 01/01/2024 12/31/2024 308.P24.R
    KY CE 30 27 3 Online Online 07/01/2023 06/30/2024
    KY CE 27 27 Online Online 07/01/2024 05/30/2025
    KY QE 30 27 3 Online Online 07/01/2023 06/30/2024
    KY QE 30 27 3 Online Online 07/01/2024 05/30/2025
    LA CE 27 27 Online Online 06/29/2022 06/18/2025 A0184
    LA QE 30 27 3 Online Online 06/29/2022 06/18/2025 A0184
    MA CE 27 27 Online Online 05/17/2022 06/28/2024 120087
    MA QE 30 27 3 Online Online 03/30/2023 06/25/2025 120154
    MD CE 30 27 3 Online Online 06/18/2022 06/18/2025 56996
    MD QE 30 27 3 Online Online 06/18/2022 06/18/2025 56996
    ME CE 30 27 3 Online Online 06/18/2022 06/18/2025 56996
    ME QE 30 27 3 Online Online 06/18/2022 06/18/2025 56996
    MI CE 27 27 Online Online 09/05/2023 09/05/2026 20 - 948475
    MI QE 30 27 3 Online Online 08/25/2022 06/28/2025 3041
    MN CE 30 27 3 Online Online 08/01/2023 07/31/2025 1018765
    MN QE 30 27 3 Online Online 08/01/2023 07/31/2025 1018764
    MO CE 27 27 Online Online 06/03/2022 06/18/2025
    MO QE 30 27 3 Online Online 06/03/2022 06/18/2025
    MS CE 27 27 Online Online 06/29/2019 04/26/2025 MAB #49342
    MS QE 30 27 3 Online Online 06/29/2019 04/26/2025 MAB #49342
    MT CE 30 27 3 Online Online 09/12/2022 06/18/2025 REA-CEC-REC-15635
    MT QE 30 27 3 Online Online 09/12/2022 06/18/2025 REA-CEC-REC-15635
    NC QE 30 27 3 Online Online 01/01/2024 12/31/2024
    ND QE 30 27 3 Online Online 08/30/2010 QE-201016
    NE QE 30 27 3 Online Online 06/18/2022 06/18/2025 1192470.02
    NH CE 30 27 3 Online Online 06/29/2019 06/18/2025
    NH QE 30 27 3 Online Online 12/28/2023 06/18/2025
    NJ CE 27 27 Online Online 06/18/2022 06/18/2025 2022-3476
    NJ QE 30 27 3 Online Online 06/18/2022 06/18/2025 2022-3476
    NM CE 30 27 3 Online Online 09/25/2023 06/18/2025 4334
    NM QE 30 27 3 Online Online 09/25/2023 06/18/2025 4334
    NV CE 30 27 3 Online Online 05/01/2024 04/30/2025 CE.0009694-A
    NV QE 30 28 2 Online Online 08/01/2023 07/31/2024 PL.0009356-A
    NY CE 30 27 3 Online Online 01/01/2024 12/31/2024 A2971-27
    NY QE 30 27 3 Online Online 10/01/2023 09/30/2024 Q0214-G7
    OH CE 27 27 Online Online 01/01/2024 12/31/2024 923402706A 23
    OH QE 30 27 3 Online Online 06/18/2022 06/18/2025 56996
    OK CE 27 27 Online Online 05/26/2022 06/18/2025 960
    OK QE 30 27 3 Online Online 06/29/2019 06/18/2025 60Q
    OR CE 27 27 Online Online 06/06/2022 06/18/2025 APIN-Q-0622-8933
    OR QE 30 27 3 Online Online 06/06/2022 06/18/2025 APIN-Q-0622-8933
    PA CE 27 27 Online Online 06/29/2022 06/28/2025
    PA QE 30 27 3 Online Online 06/16/2022 06/28/2025
    PR CE 30 27 3 Online Online 06/18/2022 06/18/2025 56996
    PR QE 30 27 3 Online Online 06/18/2022 06/18/2025 56996
    RI CE 27 27 Online Online 06/03/2022 06/18/2025 REA.0001895-CE
    RI QE 30 27 3 Online Online 06/03/2022 06/18/2025 REA.0001895-CE
    SC QE 30 27 3 Online Online 08/31/2014 08/31/2024 AS.1QE-13
    SD QE 30 27 3 Online Online 08/13/2010 09/21/2025 SD 513
    TN CE 14 14 Online Online 10/01/2020 03/31/2025 1429
    TN QE 30 27 3 Online Online 04/14/2009 03/31/2025 1429
    TX CE 27 27 Online Online 06/18/2022 06/18/2024 TX Provider #:10 Course #: 43829
    TX CE 27 27 Online Online 06/19/2024 06/18/2025 TX Provider #:10 Course #: 48435
    TX QE 30 27 3 Online Online 07/25/2022 06/18/2025 TX Provider #8038 Course #: 27896
    UT CE 27 27 Online Online 10/01/2022 09/30/2024 AC220910
    UT QE 30 28 2 Online Online 10/01/2022 09/30/2024 AQ211111
    VA CE 30 27 3 Online Online 06/18/2022 06/18/2025 56996
    VA QE 30 27 3 Online Online 09/01/2022 08/31/2024 4006000624
    VT CE 27 27 Online Online 02/04/2021 02/04/2025
    VT QE 30 27 3 Online Online 02/04/2021 02/04/2025
    WA CE 27 27 Online Online 06/08/2022 06/28/2025 A4177
    WA QE 30 27 3 Online Online 06/08/2022 06/28/2025 A4177
    WI CE 30 27 3 Online Online 06/18/2022 06/18/2025 56996
    WI QE 30 27 3 Online Online 06/18/2022 06/18/2025 56996
    WV CE 27 27 Online Online 06/29/2022 06/28/2025
    WV QE 30 27 3 Online Online 06/29/2022 06/18/2026
    WY CE 27 27 Online Online 06/29/2022 06/28/2025
    WY QE 30 27 3 Online Online 06/29/2022 06/28/2025
    Course Objectives
    • Forecast incomes and expenses for a multiyear holding period.
    • Forecast reversions for a multiyear holding period.
    • Discount overall mortgage and equity cash flows to present value.
    • Use yield capitalization formulas to calculate present value.
    • Use data and sources to select and support risk-adjusted discount rates.
    • Solve problems in lease analysis, risk and investment analysis, leverage, and subdivision analysis.
    • Value partial interests.
    Course Details

    Program Overview:

    Online Syllabus

    Assignments:
    No

    Equipment:

    Additional Information:

    Exam:
    You will have 90 days from the time that you complete the course to take the proctored, offline exam. Testing center locations in your area can be found by clicking on this link:www.pearsonvue.com/ai.
    Exam FAQ

    Online Course Access
    Go to www.appraisalinstitute.org and log in with the username and password you used when you registered. Click on the red “My Account” button if you are not automatically taken to your account page.
    1. Click "Education and Events" on the right navigation menu.
    2. Find the course under the “Online Courses” heading and click the “Begin” button.
    IMPORTANT NOTE: Once this button is clicked, your access length time (e.g. 90 days) will begin. Only click when you intend to start the course. If you are returning, once you have started the course, click the “Continue” button to continue.

    Technology-Based Education Student Disclaimer
    I agree to the terms and policies set forth under the Appraisal Institute Education Policy. I also certify that I am the person identified under Personal Data and that I will personally complete each assigned component of instruction and any examination(s). I understand and agree that if I misrepresent my identity or arrange for someone else to represent himself or herself as me at any time during the Appraisal Institute online course or seminar, I will be immediately removed from the course or seminar and I will not be entitled to any refund. I further understand that if I am a Designated member, Candidate for Designation, Practicing Affiliate, or Affiliate of the Appraisal Institute and participated in any misrepresentation of identity, by affirmative act or failure to act, I will be the subject of a peer review proceeding under Regulation No. 6 for violation of the Code of Professional Ethics and Standards of Professional Practice of the Appraisal Institute, and such peer review proceeding may result in termination of my Appraisal Institute membership, candidacy, and/or affiliation.

    Other Details
    For information about how on demand online education programs work, registration and cancellation policies, and other details, see our On Demand Online Education Frequently Asked Questions.

    Requirements:

    Online Education FAQ

    Additional Course Offerings
    Sponsor Date Location Format
    Hoosier State Chapter June 11-14, 2024 Indianapolis, IN Classroom View Details Register
    North Texas Chapter August 19-22, 2024 Dallas, TX Classroom View Details Register
    North Star Chapter September 23-26, 2024 Bloomington, MN Classroom View Details Register