Racine-Dickie - Appraisal Institute of Canada

Candidate from A to ZOAAIC Conference24 April 20101

AIC Candidate Program from A to ZVisit the CANDIDATE CENTRAL webpage in the members sectionhttp://www.aicanada.ca/members/cmsPage.aspx?id=435Prepared byDominique Racine-DickieAIC Manager, Professional AffairsRevised: May 31, 2011

Who can be an AIC Candidate?As of January 1, 2007 applicants must:• Hold a university degree;OR•Have completed all curriculum requirements(university degree and AIC courses) for the AACIdesignation, less 10 courses;AND …Candidate from A to Z31-May-20113

Other Requirements for Candidacy• AIC introductory We Value Canada workshop;• An approved Foundations in Real EstateAppraisal course (BUSI 330 or approvedequivalent)In addition• All new Candidate members must complete themandatory Professional Practice (Standards)seminar within 24 months of the date ofadmission as a Candidate Member.Candidate from A to Z31-May-20114

University Degree - Definition• A four (4) year University degree at theBaccalaureate level;• A three (3) year University degree;• An applied undergraduate degree as granted bycommunity colleges and university colleges inseveral provinces; and• A Masters, post-graduate or post doctoraldegree or diplomaCandidate from A to Z31-May-20115

Maintenance of Candidate StatusCandidate from A to Z31-May-2011All Candidates are required to successfullycomplete one university credit course (CPY)towards designation each year to retain Candidatestatus.However, Candidates who have completed allcourse requirement(s) including the Guided CaseStudy have three (3) years from September 30 ofthe year they complete those requirements toobtain their designation. Failure to obtain theirdesignation within that timeframe will result in arenewal of the course per year requirement forthat Candidate.6

CPY – Exception PolicyAn exception to this policy may be granted onwritten application (email), in rare circumstances,such as:a) a situation where a Candidate has takenadditional courses in one year to prepare or anabsence the following year; orb) due to medical reasons, parental leave orserious family matters.Candidate from A to Z31-May-2011Current electronic UBC Transcript and other supportingdocuments are required for all applications.7

All CPY must be reported by September 30 of eachyear using the CPY web tool available in theMembers Section of the AIC website.http://www.aicanada.ca/members/cmsPage.aspx?id=285Candidate from A to Z31-May-20118

Candidate from A to Z31-May-20119

2011 CPY periodAll Candidates MUST report their successfullycompleted university level courses taken betweenOctober 1 st , 2010 and September 30 th , 2011.To be eligible a course must be:• Successfully completed before September 30,2011;Taken during the following sessions:• 2010 Fall session (September – December)• 2011 Winter session (January – April/May)• 2011 Summer session (June – September)Candidate from A to Z31-May-2011Courses starting in September 2011 will only be eligible forthe 2012 CPY (Oct. 1, 2011 to Sep. 30, 2012)10

Mandatory Professional PracticeSeminarCandidate from A to Z31-May-2011• Candidates must complete the MandatoryProfessional Practice Seminar (PPS) within 24months of becoming Candidate.• Candidate are also required to complete the PPSonce in every 5-year CPD cycle.• Candidate members who fail to complete theProfessional Practice Seminar will be subject to a$500 fine and suspension of their Candidatestatus until they successfully complete theSeminar and its examination and have paid thefine.12

Consequences of Being SuspendedCandidate from A to Z31-May-2011• Appraisal reports prepared by suspendedCandidates will have no insurance coverage evenif co-signed by a designated member in goodstanding.• Suspended Candidates will no longer be coveredby insurance for as long as they remainsuspended.• Will be removed from the Cosigning Registry anda notification will be sent to the responsibleDesignated member• Suspended Candidates remain members of AICand must continue to pay their annual dues andinsurance premium.13

Course Structure – CRA & AACIThe Canadian Residential Appraiser (CRA)designation requires up to seven courses, pluscompletion of a residential case study.The Accredited Appraiser Canadian Institute(AACI) designation requires up to eight additionalcourses, plus completion of an income oragricultural case study.Exemptions and transfer credit are considered forprevious post-secondary education, so moststudents achieve their designation without takingall the required courses.Candidate from A to Z31-May-2011Most AIC Education Program students are workingprofessionals and find one course per term manageable.14

Achieving the AACI DesignationWhere Do You Start?Candidate from A to Z31-May-201115

Achieving the CRA DesignationWhere Do You Start?Candidate from A to Z31-May-201116

Why the Applied ExperienceProgram? (AEP)The AEP ensures that all newly designatedmembers have obtained relevant experience inthe application of the First Principles of Value in aprofessional setting, and have developed theprofessional competencies expected by clients.Mentoring ensures that Candidates are guided intheir development and in the application of theprinciples of value and professional skills.Candidate from A to Z31-May-201117

AEP Minimal TimeCRA - one year of mentored applied experiencewithin the last two years preceding the applicationof sitting the CRA designation AE written exam.AACI - two years of mentored applied experiencewithin the last four years preceding theapplication of sitting the AACI, P.App designationAE written exam.Candidate from A to Z31-May-201118

Eligibility for EnrolmentTo be eligible to enter AEP, participants must:a) be a Candidate or CRA member of AIC in goodstanding, who have secured the agreement ofa qualified mentor to guide them through thecourse of the program;b) have completed the Professional PracticeSeminar, within 5 years of joining the AEP;Candidate from A to Z31-May-201119

AEP StepsCandidate from A to Z31-May-20111. Application ( to the affiliated provincialorganization)– AEP enrolment report (800 words) writtenand signed by both the Candidate and theMentor2. Application for Designation– Requires the successful completion of• All curriculum requirements;• Professional Practice Seminar;• Appropriate Guided Case Study or equivalent;• University degree (120 credits); and• Minimum term of required AEP along withCertification of Readiness by Mentor20

3. Examination Processa) AEP Written Examination consist of• One case study (40% of the mark)• Three short answer questions (60%)http://www.aicanada.ca/members/cmsPage.aspx?id=440a) AEP Professional Competency InterviewThe Professional Competency Interview is the finalstep on the path to designation. It is based onBehavioural Descriptive Interview (BDI) techniques,and is carried out by trained examiners forCandidates who have passed the AppliedExperience Written Examination.Candidate from A to Z31-May-2011http://www.aicanada.ca/members/cmsPage.aspx?id=44521

Other Sessions of Interest forMentors & Candidates• How to Prepare for the Competency Interview(PCI mock interview)Friday, June 10 from 8:30 to Noon• How to Prepare for the AIC Designation WrittenExamFriday, June 10 from 1:30 to 3:00 pmCandidate from A to Z31-May-201122

Q & ACandidate from A to Z31-May-201123

Candidate from A to Z24 February 201124