The Appraisal Institute of Canada (AIC) is the premier national association for real estate valuation professionals. AIC assures high standards in the appraisal profession through the granting of the Canadian Residential Appraiser (CRA, P.App) and the Accredited Appraiser Canadian Institute (AACI, P.App) designations.
Since 1998, the UBC Real Estate Division has been given the responsibility for administering the courses comprising the Appraisal Institute of Canada’s educational program. The AIC program is designed for highly-motivated people seeking to join the real property valuation profession as well as for valuation practitioners already employed in the industry who want to upgrade their education. Successful completion of these courses also earns student degree credits toward UBC’S Bachelor of Business in Real Estate Program (BBRE).
Getting Started with AIC
The starting point for a career in real estate valuation is to become an AIC Candidate Member. This requires completion of the following courses: AIC 101, ITPP, and BUSI 330. For more details, see the table below and also the AIC's Why Become an Appraiser and Path to Designation webpages.
Getting Started with the UBC Real Estate Division
The first step with UBC is to enroll in BUSI 330. You will first need to be formally admitted to UBC - this application for admission must be made directly to the Real Estate Division (NOT to UBC's central admissions office). The minimum entry requirement to UBC Programs is graduation from high school at the university entrance level (see Program Admission for details).
AIC Program Structure
AIC’s professional designations are the Canadian Residential Appraiser (CRA) and Accredited Appraiser Canadian Institute (AACI). The CRA and AACI programs require completion of the AIC Education Program and additional Professional Designation Requirements as noted below. The number of courses required depends on each student's academic background. Exemptions and transfer credit are considered for previous post-secondary education, so most students achieve their designation without taking all the specified courses. Please see www.realestate.ubc.ca/transfers for more information on course equivalencies and transcript reviews.
UBC Certificates in Valuation
UBC/AIC Certificate in Residential Valuation (CRV): The CRV is achieved by students who have a degree from a Canadian university and complete the CRA designation requirements.
UBC/AIC Post-Graduate Certificate in Real Property Valuation program (PGCV): The PGCV offers an accelerated path towards the AACI designation. Eligibility requires students to have a business degree or a degree with a business focus from a Canadian university.
UBC/AIC Course Details
All courses are designed to be completed by online learning. The courses include a set of printed materials plus online resources. Students are assessed on a series of multiple choice assignments, written projects, online examinations, and case studies. Most courses include webinars and instructional videos.
Most courses are 13 weeks in length and are offered in Winter Term 1 (September-December) and in Winter Term 2 (January-April), with selected courses also available also in Summer Term 1 (June-September). Subject to prerequisites, students may take the courses in any order. Most AIC Education Program students are working professionals and find one course per term manageable. However, students wishing to accelerate their program may register for more than one course at the same time.
Students should expect to commit at least ten hours per week to their studies and assignments. The material is not easy. Diligence, organization, and self-discipline are vital. Each course has a set schedule for assignments, projects, and online examinations – please note there are fees imposed for late submissions of assignments and projects, as well as for deferral of examinations or transferring to subsequent terms.
Classroom Offerings of the AIC Program
The following institutions provide classroom offerings of courses leading to the Appraisal Institute of Canada's CRA and AACI designations, as well as to UBC's Diploma in Urban Land Economics.
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Professional Designation Requirements
- Becoming an AIC Candidate: requires completion of BUSI 330, AIC 101 – Introduction to the Appraisal Profession, and Introduction to Professional Practice (ITPP). Contact your AIC Provincial Affiliate Office for designation details.
- Proof of Course Completion: when you are ready to apply for designation, you will need to show proof to the AIC provincial affiliate office that you have completed the education program. Students can provide a printout of their "Course History" or grade letters from their courses. In rare cases, AIC may require submission of official transcripts.
- Post-Education Requirements: in addition to the UBC/AIC courses, candidates must complete the Applied Experience Program (link is for AIC members only) in order to obtain their AIC designation. The Applied Experience written examination is completed with the Real Estate Division.
- Degree Requirement: candidates must hold a degree from an accredited university in order to attain use of AIC designations. Please refer to the Appraisal Institute of Canada's education requirements and to the degree completion opportunities information page. Successful completion of AIC's courses will earn students between 50 and 60 degree credits towards UBC's Bachelor of Business in Real Estate Program (BBRE).
Additional Notes on AIC’s Education Program
- BUSI 344/444: Past graduates of BUSI 444 will receive credit towards the BUSI 344 requirement. AIC also recognizes completion of the BUSI 444 Case Study Examination as an equivalent for the BUSI 398 Residential Property Guided Case Study.
- BUSI 293 Introduction to Financial Accounting: This requirement may be fulfilled by taking any recognized accounting course, such as BUSI 293 offered through the Diploma in Accounting Program (DAP) Office. Separate program regulations and fees apply; contact the Diploma in Accounting Office for registration details. See the Course Equivalency Matrices for alternative accounting courses.
- Students taking courses at other institutions: You are subject to residency requirements for academic programs (e.g., DULE requires 50% of courses to be completed at UBC). Please Contact Us if you have any questions.
AIC Continuing Professional Development (CPD) Courses and Credits
UBC offers AIC members a number of avenues to achieve credits towards AIC’s Continuing Professional Development Program.
- UBC’s CPD self-study courses: offer AIC "guaranteed credits" in a range of valuation related topics.
- UBC CPD webinars: provide live online instructions on topics of interest to AIC members; normally offered in November and December only.
- BUSI Credit Courses: completion of BUSI courses provides members with a maximum of 12 CPD credits per course.
- AIC CPD courses:
- Professional Practice Seminar (PPS) Online Course: required for all AIC members within each 2-year CPD cycle. (7 CPD credits)
- Introduction to Professional Practice (ITPP): required for individuals interested in becoming an AIC Candidate Member. (14 CPD credits)
- Effective Co-Signing: Guiding and Overseeing Candidates: required for CRA and AACI designated members who co-sign reports on behalf of candidates. (7 CPD credits)
Links to Useful Pages
UBC/AIC Post-Graduate Certificate in Real Property Valuation Program (PGCV)
UBC/AIC Certificate in Residential Valuation
Introduction to Professional Practice Course (ITPP)
Guided Case Studies
Course Offerings
Course Descriptions
Course Equivalencies and Transcript Reviews
Tuition and Additional Fees
BUSI Examinations
Applied Experience Examination
Important Dates
CPD Opportunities for AIC Members
Degree Completion Opportunities
Frequently Asked Questions
Awards
Admission and Registration
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