Complementing the knowledge acquired through formal studies is the completion of a Guided Case Study and participation in the Applied Experience Program (AEP). AEP ensures that all newly-designated members have obtained relevant experience in the application of the First Principles of Value in a professional setting, and have developed the professional competencies expected by the clients of AIC members. This program provides a framework for candidates to explore and apply the principles of value in real-life work situations, guided by a mentor, while at the same time gaining necessary qualifying practical experience.
Members of the Appraisal Institute of Canada (AIC) applying for designated status must complete the requirements of the AEP, including a written exam and a Professional Competency Interview (PCI). The written exam is based on the First Principles of Value and the PCI is based on the professional competencies.
Steps to the AEP
Formal enrolment in the AEP through the Applied Experience Program – Enrolment Agreement (link above) filed with the member’s provincial affiliated association office. To be eligible the member must:
Be a Candidate or CRA member of AIC in good standing, who has secured the agreement of a qualified mentor to guide them over the course of the program; and
Have successfully completed the AIC Professional Practice Seminar within the two-year period immediately preceding enrolment in the AEP.
The minimum experience requirement is counted from the day of acceptance into the AEP. Candidates shall be notified by the provincial affiliated association office of the date of acceptance.
Candidates proceeding to CRA or AACI designation: Commencing after the submission of the approved AEP Enrolment Agreement, Candidates must attain no less than:
- One year of mentored applied experience within the last two-year period preceding his or her application for sitting the CRA AE written exam; or
- Two years of mentored applied experience within the last four-year period preceding his or her application for sitting the AACI AE written exam.
Note: Candidates are reminded that the suggested time requirement is a minimum expectation. Only when the mentor has certified that the Candidate has acquired the necessary Professional Competencies, demonstrated knowledge of the First Principles of Value, completed all other requirements for designation and submitted the necessary documentation and fee to the Candidate’s provincial affiliate office will the Candidate be ready to move on to the final written examination and Professional Competency Interview.
CRAs proceeding to the AACI Designation: CRAs who wish to proceed to the AACI designation are required to complete a minimum of one (1) additional year of experience, which must immediately precede the date of application for sitting the AE examinations (written exam and Professional Competency Interview). The additional year will commence after the submission and approval of the AE Enrolment Agreement.
At the end of their mentored experience, the Candidate must submit their professional resume as well as the Certification of Readiness Report and the completed AEP Progress Report (link above) (mandatory for those enrolled after June 14, 2011 and optional for those enrolled prior to June 14, 2011) to the member’s provincial affiliated association. The Candidate will also be required to provide supporting documents confirming that they have successfully completed the AIC program of study and curriculum requirements to be eligible for the AEP examinations (written exam and Professional Competency Interview).
For the complete guide to completing the Applied Experience Requirements, please refer to the Applied Experience Program Guidelines (link above).