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Appraisal Institute MAI designation requirements.

Appraisal Institute MAI Designation Requirements

Membership/Ethics &    Must provide proof of passing an approved 15/
Standards/Good Moral   Hour National USPAP Course/Exam * and attend
Character              the Appraisal Institute course Business
                       Practices and Ethics

                       The Associate Member must be a general
                       Associate Member in good standing for at
                       least 12 months prior to applying for MAI
                       Designated Membership

                       The Associate must have a good moral
                       character

                       * Note: Associate Members who only practice
                       outside the United States may take the IVS
                       course instead of the USPAP course

Required Courses/      Unless AQB criteria for general or
Exams                  residential 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 11
                         (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 courses/examinations:

                       * Advanced Income Capitalization (Challenge
                         Exam available)
                       * General Market Analysis and Highest and
                         Best Use (Challenge Exam available)
                       * Advanced Sales Comparison and
                         Cost Approaches * (Challenge Exam available)
                       * Report Writing and Valuation Analysis
                         (Course & Exam required)
                       * Advanced Applications (Challenge Exam
                         available)

                       (Note: The Advanced Market Analysis and
                       Highest and Best Use (tentative release date
                       September 2010) is equivalent to retired
                       course Highest and Best Use and
                       Market Analysis (40 hr) (formerly Course 520).
                       General Associate Members who have not taken
                       required course Highest and Best Use and
                       Market Analysis (formerly Course 520) may
                       also use General Market Analysis and Highest
                       and Best Use to meet this requirement prior
                       to the release of Advanced Market Analysis
                       and Highest and Best Use. General Associate
                       Members who do not have credit for retired
                       course Highest and Best Use and Market
                       Analysis (formerly Course 520) or General
                       Market Analysis and Highest and Best Use will
                       be required to take Advanced Market Analysis
                       and Highest and Best Use upon its release.

College Degree         At least a four-year college degree from an
 Requirement           accredited college or university, documented
                       by providing an official transcript sent
                       directly from the college to Admissions
                       Department

Comprehensive Exam     Must pass the Appraisal Institute's General
                       Comprehensive Examination

Appraisal Experience   Must receive credit for 4,500 hours of
                       Specialized Experience (logged over at least
                       a 36-month period)

Demonstration Report   Must receive credit for a demonstration
                       appraisal report on an income-producing
                       property or receive credit for the research
                       project or three-appraisal report alternative

Note: Requirements effective January 2010.

For full requirement details, please refer to Regulation No. 1
and the MAI Procedure Manual. For more information on these
requirements, please see the Designation Requirement Tools page
under the Membership section at www.appraisalinstitute.org.
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Title Annotation:ABOUT THE APPRAISAL INSTITUTE
Publication:Appraisal Journal
Article Type:Table
Geographic Code:1USA
Date:Jun 22, 2010
Words:466
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