The Appraisal Institute of Canada’s written designation examination tests your ability to apply the First Principles of Value by answering a series of questions that reflect “real life” work experience. Specifically, the examination consists of one case study worth 40 marks and three short questions each worth 20 marks, for a total of 100 marks. The complete exam is to be answered in a three hour period. Below is a sample case study question and answer to help you prepare for what to expect from the examination.

SAMPLE CASE STUDY
You have been asked to establish the market value of a single family dwelling in a mature suburban area. It has come to your attention that the corner of the main building on the subject property encroaches on the neighbouring property by 17 inches.

Bearing in mind the First Principles of Value:

• How would you establish the value impact of this issue?
• What specific issues would you pursue to assist in finding your conclusions?
• In relation to function and purpose, how much would you research these issues?

Click here for a guide to responding to this question.

SAMPLE WORK EXPERIENCE QUESTION
You will choose three short answer questions from a selection of seven options. The short answer questions are worth a total of 60 marks. For example, consider the following sample:

Real estate is governed by a combination of local, provincial, and federal legislation, as well as case law. Discuss one situation from your experience where local, provincial, federal, or case law was a key consideration in the assignment; explain the impact, and how you addressed this.

Where your answers must reflect your own work experience, describe:

• The specific property or assignment that you are referring to in a manner that is sufficient for the reader to determine its specific location.
• Provide the building name and address (if known), or as many details as possible regarding its location, plus a brief (1-2 two sentences) general description of the land and buildings. 

Your answers will be graded on the following criteria:

• Explain why you believe the situation is suitable for the question being posed – e.g., a challenging assignment dealing with highest and best use, legal issues, land use issues, etc.
• Provide details as to how you met the challenges of this situation. You should explain your reasoning process, what you did and why, and outline both successes and failures. If you relied on additional resources, you should describe these. Finally, discuss any remaining issues from your approach.

Last updated November 30, 2009