Appraisal Institute
MAI Designation and SRA Designation Requirements for Candidates

Summary of Requirements for General Candidates for Designation seeking MAI Designated Membership

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

Good Moral Character

The Candidate for Designation must have good moral character.

Status In Good Standing

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

Standards and Ethics

Must provide proof of passing an applicable USPAP course/exam and complete Appraisal Institute Business Practices and Ethics course.

NOTE: Candidates for Designation who practice solely outside the United States may complete the International Valuation Standards course instead of the USPAP course.

Required Courses/Exams

Required to have a general state certification (or equivalent) to be approved for Candidate program, OR 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
• General Appraiser Site Valuation & Cost Approach
• General Appraiser Income Approach/Part I
• General Appraiser Income Approach/Part II

Credit must be received for the following course and examination:

• General Appraiser Report Writing & Case Studies

Credit must be received for the following Level II examinations:

• Advanced Income Capitalization
• Advanced Market Analysis and Highest and Best Use
• Advanced Concepts & Case Studies or equivalents
• Quantitative Analysis

Note: The Appraisal Institute may offer an equivalency exam as a substitute for the examinations noted above except for the Standards, Ethics, and Report Writing courses. For more information on the MAI education requirements, click here.

College Degree Requirement

Must have received at least a four-year degree from an accredited college or university or alternative (alternatives expire 12/31/13).

For more information on the college degree requirement and alternatives, click here.

Comprehensive Exam

Must pass the AI General Comprehensive Examination.

For more information on the comprehensive exam, click here.

Appraisal Experience

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

For more information on the experience requirement and alternative, click here.

Demonstration of Knowledge

Must receive credit for the Demonstration of Knowledge Requirement.
For more information on the Demonstration of Knowledge, click here.

For complete information on requirements, refer to Regulation No. 2 and the SRA Procedure Manual.

Status In Good Standing

Must be a residential Candidate for Designation in good standing.

Standards and Ethics

Must provide proof of passing an applicable USPAP course/exam and complete Appraisal Institute Business Practices and Ethics course.

NOTE: Candidates for Designation who practice solely outside the United States may complete the International Valuation Standards course instead of the USPAP course.

Required Courses/Exams

Required to have a general or residential state certification (or equivalent) to be approved for the Candidate program, OR the following examinations are required:

• Basic Appraisal Principles
• Basic Appraisal Procedures

Must pass the following examination:

• Residential Equivalency Exam

A residential Candidate who holds an active general or residential state certification will be eligible to take and pass this equivalency examination for credit towards the following examinations:

1. Residential Appraiser Site Valuation and Cost Approach
2. Residential Sales Comparison and Income Approaches
3. Residential Report Writing and Case Studies

• Residential Market Analysis and Highest & Best Use
• Real Estate Finance, Statistics, Valuation Modeling
• Advanced Residential Applications and Case Studies/Part 1 (15 hrs) (Course & Exam required)

Note: The Appraisal Institute may offer an Equivalency Examination to substitute for some of the above examinations except for the Standards, Ethics and Report Writing courses.

College Degree Requirement

Must have received at least a two-year degree from an accredited college or university or alternative (alternatives expire 12/31/13).

For more information on the college degree requirement and alternatives, click here.

Appraisal Experience

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

For more information on the experience requirement and alternative, click here.

Demonstration of Knowledge

Must receive credit for the Residential Demonstration of Knowledge Requirement.

For more information on the residential Demonstration of Knowledge requirement, click here.