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    General Appraiser Income Approach/Part 2

    Register
    February 29 - April 2, 2024 San Juan, PR
    Date
    February 29 - April 2, 2024
    Location
    San Juan, PR
    Sponsor
    Puerto Rico and Caribbean Chapter
    Instructor
    J. Javier Ortiz del Valle, MAI
    Rafael E. Bonnin-Suris, MAI
    Class Time
    27 hours
    Exam Time
    3 Hours
    No Longer Available
    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
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    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:
    Table of Contents and Overview
    Course Schedule

    Assignments:
    No

    Equipment:

    Additional Information:
    Course Materials Include:

    • Course Handbook (489 pp.)
    • Solutions Booklet and Self-Study Problems (396 pp.)
    • Case Study Solutions (48 pp.)
    • Symbols & Formulas (18 pp.)

    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:
    None specified

    Additional Course Offerings
    Sponsor Date Location Format
    Appraisal Institute On Demand Online View Details Register
    Chicago Chapter March 18-21, 2024 Chicago, IL Classroom View Details Register
    Appraisal Institute March 18-28, 2024 Synchronous View Details Register
    Tennessee Chapter April 8-11, 2024 NASHVILLE, TN Classroom View Details Register
    Bluegrass Chapter April 15-18, 2024 Louisville, KY Classroom View Details Register
    Northern California Chapter May 20-23, 2024 Walnut Creek, CA Classroom View Details Register
    Hoosier State Chapter June 11-14, 2024 Indianapolis, IN Classroom View Details Register
    North Star Chapter September 23-26, 2024 Bloomington, MN Classroom View Details Register
    Event Information

    Registrants MUST CHECK their individual states for approval BEFORE registering for the Program. Before registering for the Program, registrants understand and agree that continuing education credit for this program MAY NOT be available in their state on the date of the Program. The Appraisal Institute is not responsible if credit is not available for the Program in individual states. Please note: State exceptions for virtual education may expire PRIOR to the offering date.

     

    SCHEDULE:

    February 29 to April 2, 2024 (Atlantic Standard Time), classes to be held on Tuesdays and Thursdays

    ·      6:00 p.m. – 9:00 p.m. 


    This class has been approved for 27 hours of continuing education plus an additional 3 hours for successful completion of exam in Puerto Rico 2024-0126-1232.



    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.