Summary of Requirements for MAI Membership

For complete information on requirements refer to Regulation No. 1 and the MAI Procedure Manual.

The Associate member must be a general Associate member in good standing for at least 12 months prior to applying for MAI Designated membership.

Unless AQB criteria for general state certification or certain degrees are attained, the following
Level I Exams are required:

• Basic Appraisal Principles
• Basic Appraisal Procedures
• Real Estate Finance, Statistics, Valuation Modeling        
• General Appraiser Market Analysis and Highest and Best Use
• General Appraiser Sales Comparison Approach (or equivalent)
• General Appraiser Site Valuation & Cost Approach (or equivalent)
• General Appraiser Income Approach/Part I (or equivalent)
• General Appraiser Income Approach/Part II (or equivalent)

Credit must be received for the following Level II course and examination:

• Report Writing and Valuation Analysis OR General Appraiser Report Writing & Case Studies

• Advanced Income Capitalization
• Advanced Market Analysis and Highest and Best Use or equivalent
• Advanced Sales Comparison and Cost Approaches
• Advanced Applications

Note: The Associate member must attend and pass an approved report writing course as listed above.  The Appraisal Institute may offer an Equivalency Examination to substitute for the above examinations (other than Standards, Ethics and Report Writing).

Must submit proof of at least a four-year college degree from an accredited college or university providing an official transcript sent directly from the college to the Admissions Department.

Appraisal Institute
Attn: Admissions
550 W. Van Buren Street, Suite 1000
Chicago, IL 60607

Check for institution accreditation at http://ope.ed.gov/accreditation/Search.aspx

Must pass the Appraisal Institute General Comprehensive Examination.

Must receive credit for 4,500 hours of Specialized Experience, over at least a 36-month period.

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.

Summary of Requirements for SRA Membership
For residential associate members admitted on or after January 1, 2005
For complete information on requirements refer to Regulation No. 2 and the SRA Procedure Manual.

The Associate member must be a residential Associate member in good standing.

Unless AQB criteria for general or residential state certification is attained, the following exams are required:

• Basic Appraisal Principles (30 hrs)
• Basic Appraisal Procedures (30 hrs)

Credit must be received for the following Appraisal Institute Examinations:

• Residential Market Analysis and Highest & Best Use (15 hrs)
• Residential Appraiser Site Valuation and Cost Approach (15 hrs)
• Residential Sales Comparison and Income Approaches (30 hrs)
• Residential Report Writing and Case Studies (15 hrs)
• Advanced Residential Applications and Case Studies/Part 1(15 hrs) (Course & Exam required)
• Real Estate Finance, Statistics, Valuation Modeling (15 hrs)

Note: The Associate member must attend Course Advanced Residential Applications and Case Studies/Part 1.  The Appraisal Institute may offer an Equivalency Examination to substitute for the above examinations (other than Standards, Ethics and Report Writing).

Must submit proof of an associate degree or higher OR successfully pass the following from an accredited college:

• English Composition;
• Principles of Economics (Micro or Macro);
• Finance;
• Algebra, Geometry or higher mathematics;
• Statistics;
• Introduction to Computers - Word processing/spreadsheets; and
• Business or Real Estate Law.

The course hours must total at least 21 semester credit hours. If an accredited college, junior college, community college or university accepts the College-Level Examination Program (CLEP) examination(s) and issues a transcript for the exam, showing its approval, it will be considered as credit for the college course.  Learn more about CLEP at http://www.collegeboard.com/student/testing/clep/about.html

Must receive credit for 3,000 hours of Residential Appraisal Experience (must cover at least a 24-months)

Must receive credit for Residential Demonstration Appraisal Report (narrative), Modular Demonstration of Knowledge, Residential Demonstration Report 45-Hour Package (Advanced Residential Applications and Case Studies/Part 1 and Advanced Residential Report Writing/Part 2), or General Demonstration Appraisal Report (not the research project or three appraisal report alternatives).