Real Estate Division

Appraisal Institute of Canada Guided Case Studies

The Real Estate Division administers the Guided Case Studies (formerly Demonstration Reports) required for the Appraisal Institute of Canada's CRA and AACI designations. The writing of guided case studies tests the candidate's ability to apply appraisal theory in a practical situation.

The AIC establishes and actively maintains the content, rigour and evaluation of the guided case studies. The tutors and graders for the guided case studies are selected from a pool of experienced AACI designated members representing a variety of provinces across Canada. Wherever possible candidates are assigned a tutor from their own province.

Candidates should review the guided case studies information found in the links below.

CRA Designation. To meet the guided case studies requirement for the CRA designation, the following options are available:

  • BUSI 398 Residential Property Guided Case Study
  • AIC 399 Single Family Guided Case Study (no longer offered)
  • BUSI 444  Case Study Examination equivalency*

AACI Designation. To meet the guided case studies requirement for the AACI designation, the following options are available:

*BUSI 444 Case Study Examination Equivalency: the Appraisal Institute of Canada recognizes the BUSI 444 Case Study Examination as an equivalent to the AIC Residential Property Guided Case Study. By completing the BUSI 444 course assignments and the case study examination, candidates will have met the CRA guided case study requirement. This approval was granted in recognition of the examination's rigour and its relevance to practitioners of residential real property assessment and appraisal. AIC has granted this equivalency to help candidates meet their educational goals, maximizing flexibility and helping them achieve professional recognition for their work. For more details on the BUSI 444 exam, please see the Foreword section of the BUSI 444 Course Workbook, or contact the Real Estate Division at Please note: This examination requires an in-depth knowledge of statistics and mass appraisal and is NOT recommended for anyone who is not expert in these areas. This option is only available for students who have completed the BUSI 444 course. For pre-2010 students, this requires the comprehensive case study examination, not the standard case study.

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