Basic Appraisal Procedures
The Basic Appraisal Procedures Course is a 30-hour introductory appraisal course that meets the standards set forth by The Appraisal Foundation's required core curriculum. (Click here for a topic matrix).
The course covers the valuation process including defining the appraisal problem, collecting and selecting data, describing the subject property, the three traditional approaches to value (cost approach, sales comparison approach, and income approach), reconciliation, communicating the appraisal results, and sample completed appraisals. This course represents a critical piece of the knowledge foundation that is required for a student to begin their appraisal career.
For each chapter in the course there are key vocabulary words, examples, quizzes, and exams that are provided to reinforce important concepts and test the students' knowledge.
- Overview of Approaches To Value
- Valuation Procedures - Definition of the Problem
- Valuation Procedures - Collecting and Selecting Data
- Valuation Procedures - General Data Analysis
- Property Description - Location (Market Area and Neighborhood)
- Property Description - Geographic and Geologic Characteristics Land / Site
- Land / Site Considerations for Highest and Best Use
- Property Description - Improvements - Architectural Styles & Types of Construction
- Valuation Procedures - Specific Data Analysis - Highest and Best Use
- Valuation Procedures - Specific Data Analysis - Sales Comparison Approach
- Specific Data Analysis - Cost Approach
- Valuation Procedures - Specific Data Analysis - Income
- Reconciliation and Final Opinion of Value
- Communicating the Appraisal
- Residential Applications
Course Completion Certificate
In order to receive your Course Completion Certificate for the Basic Procedures course, you must successfully complete (with a score of 75 percent or greater) each of the exams and one final exam.
The final exam must be taken under the supervision of a proctor. The guidelines for identifying and utilizing a qualified proctor are provided under the Testing link above.
Additionally, the student must submit an affidavit certifying that the person receiving credit for the course is the same person who took the course. All exams are taken on the Internet, and the exams are instantly graded.
The following reference book is provided by VanEd:
- Basic Appraisal Principles by Henry Harrison & Burton Lee.
Using the Course Materials
The course is designed to use the course textbook in close conjunction with the internet material as follows:
- read the online learning objectives associated with each chapter,
- study the corresponding chapter in the textbook,
- take the online practice quizzes, typically covering two to three pages of textbook material,
- work the online exercise problems at the completion of each chapter,
- study the online flashcards, and
- complete the online chapter exam.
All chapter exams must be successfully completed prior to taking the online final exam.
Quizzes, exercises and exams are all graded instantly.
Exercises include mathematical calculators, interactive worksheets, keyword concepts and short answers. The instructor's responses to the exercises are provided immediately after the student submits his or her answers.
All testing and grading will occur online. Testing includes quizzes, section exams, and a final exam.
Quizzes are intended to reinforce important concepts and are distributed throughout the course. There is typically one quiz for each two or three pages of text material and each quiz question references the relevant page in the text. If, after two attempts, there are still incorrect answers to the quiz, the correct answers are provided. All quizzes within a section must be completed prior to taking the section exam.
There are two types of exams: section exams, and a final exam. A passing score of 75 percent is required for each exam, and students must pass all exams to complete the course. Exams are graded immediately and results provided online. If a passing score is not achieved, the student is told which questions were answered incorrectly and given a 'study hint' that points to the material the student should review before attempting the exam again.
Final Exam Proctor
The course final exam must be taken online in the presence of a proctor according to the following guidelines:
- Identify a proctor - acceptable proctors include:
- Notary Publics
- A non-related individual: ( by neither blood or employment)
Prior arrangement requirements:
i. Fax proctor's telephone number
ii. A copy of government issued photo identification
iii. E-mail address
Van Education Center will acknowledge acceptance of the proctor by e-mailing the proctor an affidavit with the proctor's name, students completed and acknowledgement of prior acceptance of the proctor.
If the proctor is one of a, b, or c above no prior approval of the proctor by Van Education Center is required.
- Student must present the proctor with government issued photo identification.
- Complete the closed book exam without removing questions or answers. This includes the prohibition of copying, printing, or otherwise removing material from the test.
- Student should insure the proctor completes a Proctor Affidavit (included in the course).
- Student should complete a Student Affidavit (included in the course).
- Mail original Proctor Affidavit and Student Affidavit to:
Van Education Center
5345 Arapahoe Ave, Suite 7
Boulder, CO 80303
Please CLICK HERE to open the Appraisal School Catalog
The International Distance Education Certification Center (IDECC) has accepted this course delivery. Students who take this course are encouraged to provide IDECC with feedback about their learning experience. A feedback email address is available at www.IDECC.org.
VanEd is also interested in your feedback. Please contact us by telephone (1-800-652-8857) or by email (firstname.lastname@example.org).
Appraisal Foundation Certification
The Appraisal Foundation's Appraisal Qualifications Board (AQB) maintains a course approval program. Independent appraisal educators who are selected for their knowledge and experience in appraising and appraisal education have reviewed all courses that are approved by the AQB. The AQB chief reviewer also reviews the courses to assure objectivity and quality control.
The AQB does not require participation in this program but it is strongly encouraged. Van Education Center is pleased to state that all of our appraisal classes have been approved by the AQB.