Candidate members of the Appraisal Institute of Canada (AIC) represent the future of the appraisal profession, individuals who are pursuing the rigorous AIC Program of Professional Studies and preparing to complete the final requirements for one of the Appraisal Institute of Canada’s prestigious professional designations. Admission to candidacy is open only to those who either hold a degree, or have 10 or fewer remaining requirements for the AACI, P. App designation (degree and AIC curriculum). To qualify for Candidate membership, you must be of legal age, and have successfully completed a recognized Foundations of Real Estate Appraisal course (UBC BUSI 330 or equivalent), as well as the AIC We Value Canada workshop (online only). Candidate members typically work actively in the profession as appraisers-in-training, within the limits defined by the Canadian Uniform Standards of Professional Appraisal Practice (CUSPAP), policies and regulations. Candidates participate in AIC’s Professional Liability Insurance program and can take on increasingly complex assignments as they gain expertise and knowledge, under the direction and mentorship of designated members.
As full members of AIC, Candidates are accorded certain privileges including the right to prepare and take limited responsibility for appraisal reports under the supervision of a designated member. As non-designated members, all assignments they undertake, and how they identify themselves, must be in strict compliance with the Canadian Uniform Standards of Professional Appraisal Practice and the Institute's Code of Ethics.
Candidates must be insured for errors and omissions in accordance with AIC’s bylaws, and if they are signing appraisal reports or similar documents, they must be registered with a designated member in good standing of AIC who acts as co-signer for said reports. Failure to do so is a breach of the standards of professional practice and invalidates the insurance coverage on the reports.
Candidates must be mentored either by the co-signer or another designated member in accordance with AIC’s mentoring policies. Candidates must participate in the Applied Experience Program, successfully complete a minimum of one university credit course per year, and complete all the requirements for designation with AIC within a ten-year period from date of becoming a Candidate member, failing which they will forfeit their Candidate status.
Last updated September 22, 2010