Appraisal Institute of Canada (AIC) Distance Education Program

Admission Requirements

Getting Started

To become an AIC Candidate Member, you will need
  1. BUSI 330 - Foundations of Real Estate Appraisal
  2. AIC 101 - Introduction to the Appraisal Profession
  3. AIC, Introduction to Professional Practice (ITPP)
These are the starting points for a career in appraisal.

This program has been 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.

  • Appraisal Institute of Canada (AIC) Education Program: the minimum entry requirement to UBC Programs is graduation from high school at the university entrance level (see Program Admission for details). The recommended entry requirement for the AIC Education Program is two years post-secondary studies, with completion of microeconomics and macroeconomics.
  • AIC Candidacy: AIC candidacy requires a minimum of BUSI 330 plus additional courses. See the AIC’s Path to AIC Designation webpage for details.
  • AIC Designation: AIC’s Canadian Residential Appraiser (CRA) and Accredited Appraiser Canadian Institute (AACI) designations require completion of the AIC Education Program and additional Professional Designation Requirements as noted below, plus a degree from an accredited university. See Degree Completion Opportunities for information on degree recognition of the AIC Program.

If you want more information on how to become an appraiser or about the appraisal profession in general, you may wish to review these Frequently Asked Questions or this series of informative videos on the Appraisal Institute of Canada website.

Course Structure

The AIC Education Program leads to AIC's designations, the Canadian Residential Appraiser (CRA) and Accredited Appraiser Canadian Institute (AACI). The CRA and AACI programs require completion of specified courses as well as a residential or income case study. 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 – see the "Achieving the CRA & AACI" program charts below.

Achieving the AACI Designation

Achieving the CRA Designation

All courses are designed to be completed by distance education, with written projects and multiple-choice assignments submitted according to a set schedule, followed by a final examination. The internet is used extensively as a learning resource.

Most courses are 13 weeks in length. Most courses 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. Students wishing to accelerate their program however, may register for more than one course at the same time.

Successful completion of AIC's courses will earn students between 50 and 60 degree credits toward the Bachelor of Business in Real Estate Program (BBRE), as offered by the University of British Columbia (UBC).

Students enrolled in the program prior to January 1, 2016 are required to complete the requirements of the former education program. See AIC Communiqué for changes as of January 1, 2016.

Required Courses

The following is an outline of the courses and designation requirements that new members and those former members reinstating their membership will be required to successfully complete, in order to achieve designated membership (effective January 1, 2016).

Pre-Core courses are required courses, however for those seeking immediate AIC Candidacy they do not need to be taken prior to enrolling in BUSI 330.

Pre-Core Requirements

The following requirements for AIC's designations are recommended to be completed before starting the AIC Education Program. [see note re:pre-core]

  • BUSI 100 / Microeconomics
  • BUSI 101 / Macroeconomics
  • 2 Years Post-Secondary Education

AIC Core Courses

In addition to the Pre-Core Courses, the following are required for both the CRA and AACI designations:

  • BUSI 111 BC Real Property Law and Real Estate Ethics (3 credits)
    OR BUSI 112 Canadian Real Property Law and Real Estate Ethics (3 credits)
  • BUSI 330 Foundations of Real Estate Appraisal (3 credits) (BUSI 121 is a recommended prerequisite)
  • BUSI 400 Residential Property Analysis (3 credits)
  • BUSI 433 Real Estate Business (3 credits)
    OR BUSI 443 Foundations of Real Property Assessment and Mass Appraisal (3 credits) (Recommend BUSI 330)
UBC/AIC Certificate in Residential Valuation (CRV): Students completing the CRA designation requirements who have a degree from a Canadian university and who meet the BUSI 100/101 prerequisites will also achieve UBC's CRV.

Canadian Residential Appraiser (CRA) designation requires the following courses, in addition to the Pre-Core and Core courses:

  • BUSI 121 Foundations of Real Estate Mathematics (3 credits)
    OR BUSI 344 Statistical and Computer Applications in Valuation (3 credits) (Recommend BUSI 121 & 330) [see note re:344/444]
  • BUSI 352 Case Studies in Residential Appraisal (3 credits) (AIC members prior to January 1, 2016 are exempt)

Professional Designation Requirements:

UBC/AIC Post-Graduate Certificate in Real Property Valuation program (PGCV): Students that have a business degree or a degree with a business focus from a Canadian university may be eligible for the UBC/AIC Post-Graduate Certificate in Real Property Valuation program (PGCV).

Accredited Appraiser Canadian Institute (AACI) designation requires the following courses, in addition to the Pre-Core and Core courses:

  • BUSI 121 Foundations of Real Estate Mathematics (3 credits)
  • BUSI 293 Introduction to Financial Accounting (3 credits). 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.
  • BUSI 300 Urban and Real Estate Economics (3 credits) (Prerequisite BUSI 100, Recommend BUSI 121)
  • BUSI 331 Real Estate Investment Analysis and Advanced Income Appraisal (3 credits) (Prerequisite BUSI 121 & 330)
  • BUSI 344 Statistical and Computer Applications in Valuation (3 credits) (Recommend BUSI 121 & 330) [see note re:344/444]
  • BUSI 401 Commercial Property Analysis (3 credits)
  • BUSI 442 Case Studies in Appraisal I (3 credits) (Prerequisite BUSI 121, 330 & 331)
  • BUSI 452 Case Studies in Appraisal II (3 credits) (Prerequisite BUSI 121, 330 & 331, Recommend BUSI 442)
  • BUSI 460 Critical Analysis and Forecasting in Real Estate (3 credits) (Prerequisite BUSI 121, recommend BUSI 330 & 344 or 444)

Professional Designation Requirements:

Course Requirements

All students must have access to a personal computer and internet access when taking any Real Estate Division course. Students should also ensure that they have a high-quality printer (e.g., an inkjet or a laser) which will provide clear printouts of information from the Real Estate Division website.


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 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.

  • (Toronto, Ontario)

  •  (Vermillion, Alberta)

  • (Vancouver, BC)

Professional Designation Requirements

Students should consult the Appraisal Institute of Canada directly for details on the Applied Experience Program (link is for AIC members only), candidate membership, and other professional designation requirements.

Note regarding BUSI 344/444: Past graduates of BUSI 444 will receive credit towards the BUSI 344 requirement.

Note regarding Pre-Core Courses: Most students will have already met the AIC Pre-Core requirement of completing courses in microeconomics (BUSI 100) and macroeconomics (BUSI 101). If not, you may wish to start there, as studying economics gives a strong foundation for real estate appraisal. However, students are allowed to take courses in any order they wish. For example, some students will choose to complete BUSI 330 first so that they can join AIC as a Candidate member.

Note students taking courses at other institutions: You are subject to residency requirements for academic programs (e.g., DULE). Please Contact Us if you have any questions.