Self Study 102: Income Approach to Valuation

The Income Approach to Valuation is designed to provide the students with an understanding and working knowledge of the procedures and techniques required to estimate the market value of vacant or improved properties by the income approach. The material covers real estate finance and investment, capitalization methods and techniques, analysis of income and expenses operating income, selection of capitalization rates, and application of the approach. The Income Approach to Valuation utilizes lectures, classroom discussion, and homework problems to emphasize the main concept and procedures taught in the course.

Please review our technology requirements and cancellation policy and the Final Exam FAQ Tab for Self Study Courses before purchasing.

This course is not AQB approved.

Please note that when you enroll in an IAAO self-study course, you take the course at your own pace and without instructor support. Please check with your local jurisdiction for eligibility. 

Students have 90 days from the date they begin the course to complete the material and take the final exam.

Cancellation Policy

  • You must cancel a course in writing and on the same day as the course purchase date. To cancel a course, please send an email to education@iaao.org.
  • If IAAO receives a cancellation request after the date of purchase, the IAAO will not issue a refund.

Technology Requirements

  • For the exam: A computer web camera with microphone is required. Please review the Final Exam FAQ for complete requirements for the exam.
  • A calculator is required.
  • Current version of Google Chrome, Firefox, or Safari on a computer running Windows 7, 8, or 10 or Mac OS 10.11+ (El Capitan).
  • If accessing the course using a mobile device, it must be a large-screen device such as an iPhone 6+ or iPad.

Final Exam Registration & ProctorFree FAQ

Do I have to take the final exam?

Please note that an exam is only required for completion credit. If you require attendance credit only, you may download your certificate from your transcript page once you have finished the final chapter in the course materials. 

Will my device work to take this exam?

We recommend checking ProctorFree's technical requirements prior to your exam to ensure your device meets their requirements, including hardware, software, and connectivity. 

What materials can I use on my exam? 

You are permitted to use a calculator and one piece of blank scratch paper on all IAAO exams. If formulas are permitted for use on your exam, you will find them in the Contents tab. 

No other materials are allowed during your exam, and use of other materials will result in immediate disqualification.

When do I sign up for the exam? How do I sign up for my exam?

Use the Self Study ProctorFree Exam Registration form to sign up for your exam. We recommend signing up as early as possible so that you're ready to take your exam at any time.

How do I take my final exam?

  1. When you're ready to take your exam, click on the exam link in the ProctorFree portal. This will start your exam session.
  2. After clicking the exam link, you will be asked to log into your IAAO account. Then, you will need to watch the "How to Show Your Workspace" video and complete the Pre-Exam Instructions and Acknowledgement.
  3. During the Pre-Exam Instructions and Acknowledgement, make sure to show your workspace using your webcam as directed. This includes showing the area around you, such as the top of your desk, your calculator, and any blank scratch paper you will be using.
  4. Enter the test password/access code provided at the top of the ProctorFree browser. This will activate your exam.
  5. Once you have shown your workspace, confirmed that your Proctored Session is active, submitted the Pre-Exam Instructions and Acknowledgement, and entered the test password, you are ready to start your exam!

Can I leave my computer during the exam?

You must remain at your computer for the duration of the exam - leaving the area will disqualify your exam, as we cannot validate the entirety of the session if you are not present. Please make sure you are prepared to remain at your computer for up to 3 hours and have all of your resources, laptop charger, calculator, etc.  If you are unable to remain at your computer for the duration of your exam, please contact education@iaao.org for assistance and accommodation.  

What happens if I run into a technical issue?

ProctorFree's support page is available here and you may also contact their live chat in the bottom right corner of the page. 

What happens after I am finished with my exam?

IAAO will review your proctored video within 1-2 weeks. After the video has been reviewed, you can download your Certificate of Completion from your transcript.

When do I need to finish my exam by?

The course and exam share the same expiration date, which is 90 days after the first access date of the course.

I did not pass the exam. What are my options?

To apply for a re-take, please fill out the special exam application.

I have another question - who do I contact?

Open a help ticket and one of our support agents will help you. 

Key:

Complete
Failed
Available
Locked
Course Contents
Orientation
Click Orientation to continue.
Click Orientation to continue. Welcome to Self Study 102: Income Approach to Valuation! Let's get ready to start the course.
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Course Navigation
Begin self-paced component package.
Begin self-paced component package.
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Chapter 1
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Begin self-paced component package. Completing this course will grant access to the next chapter. If you have completed this chapter and the next chapter has not opened, please refresh this page.
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Chapter 2
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Begin self-paced component package. Completing this course will grant access to the next chapter. If you have completed this chapter and the next chapter has not opened, please refresh this page.
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Chapter 3
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Begin self-paced component package. Completing this course will grant access to the next chapter. If you have completed this chapter and the next chapter has not opened, please refresh this page.
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Chapter 4
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Begin self-paced component package. Completing this course will grant access to the next chapter. If you have completed this chapter and the next chapter has not opened, please refresh this page.
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Chapter 5
Begin self-paced component package.
Begin self-paced component package. Completing this course will grant access to the next chapter. If you have completed this chapter and the next chapter has not opened, please refresh this page.
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Exam Preparation
Final Exam Registration
Select the "Register Now" button to begin.
Select the "Register Now" button to begin. If you require a final exam, sign up for your final exam here first. It can take up to 3 days for you to receive your ProctorFree log in information. You can take your exam any time before your registration for this course expires. You can skip this step if you are not taking the final exam.
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Final Exam - Formulas and Allowed Materials
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Open to download resource. You may have this document open during your final exam but no other notes are allowed.
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Exam Preparation Guide - Static/Printable
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Open to download resource.
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Exam Preparation Guide - Interactive
Begin self-paced component package.
Begin self-paced component package.
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Tech Check and Demo Exam
Select the "Go to ProctorFree Student Portal" button to begin.
Select the "Go to ProctorFree Student Portal" button to begin. YOU MAY PERFORM THE TECH CHECK IF YOU HAVE YOUR PROCTORFREE LOGIN INFORMATION. Step-by-step instructions for this optional 2-in-1 process are outlined in the exam prep guide above. Select the button to the right to log in to ProctorFree and begin. NOTE: You must be able to receive email from support@proctorfree.com to log in.
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Final Exam
Launch ProctorFree Session
Select the "Go to ProctorFree Student Portal" button to begin.
Select the "Go to ProctorFree Student Portal" button to begin.
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Video: How to Show Your Workspace
Open to view video.  |  1 minute
Open to view video.  |  1 minute This 1-minute video explains and illustrates how to use your webcam to show your surroundings before taking the exam. You must watch this to unlock your exam below. NOTE: The video does not contain narration, only background music.
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Password / Access Code
Enter code to continue.
Enter code to continue. Please find the access code at the top of the ProctorFree browser, in a grey bar. Don't see it? Launch your ProctorFree session first!
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Pre-Exam Instructions & Acknowledgement
3 Questions  |  Unlimited attempts  |  3/3 points to pass
3 Questions  |  Unlimited attempts  |  3/3 points to pass You must complete these steps before beginning your exam. Please read carefully as failure to complete all steps will result in exam disqualification.
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Final Exam
50 Questions  |  1 attempt  |  180 minute limit  |  35/50 points to pass
50 Questions  |  1 attempt  |  180 minute limit  |  35/50 points to pass This examination consists of 50 multiple-choice questions. A score of 35 correct answers (70 percent) is the minimum passing score. Read each test item carefully and choose the best answer. There is only one best answer for each test item. Some choices will appear to be correct if you have made a procedural or computational error. Be sure to check your solutions carefully to avoid choosing an incorrect answer.
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Download Course Certificates
Attendance Certificate
30.00 CEUs credits  |  Certificate available
30.00 CEUs credits  |  Certificate available Click View/Print Certificate to claim your certificate.
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Verification - Final Exam
Enter code to continue.
Enter code to continue. Once you have completed your exam and it has been reviewed, you'll receive a verification code to unlock your Certificate of Achievement.
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Certificate of Achievement
No credits available  |  Certificate available
No credits available  |  Certificate available This certificate indicates you have completed the course's final exam.
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