FAQs

Student Membership FAQs

1 / How do I become a Student Member?

Fill out the student application and submit it to info@aicontario.ca for processing.

2 / How much does it cost to join as a Student Member?

Student membership is free of charge.

3 / Am I able to work as an appraiser with a Student Membership?

Student members are not eligible to participate in the Professional Liability Insurance program and are not able to work. We recommend student membership for those who are completing education and/or job shadowing.

Candidate Membership FAQs

1 / How do I become a Candidate Member?

Please fill out the Candidate Application and submit it to info@aicontario.ca with the following supporting documentation:

Two years Post- Secondary Education (College or University)
*A university degree is required to attain a CRA or AACI Designation; A degree earned outside Canada requires a Credential Assessment
Completion of the AIC 101 Webinar
Successful Completion of The BUSI 330 via UBC/ or AIC 330 via Seneca College(Foundations of Real Estate Appraisal)
Successful Completion of the AIC Introduction to Professional Practice- Provided via UBC(ITPP)
Criminal Record Check done by the Appraisal Institute of Canada; facilitated by Sterling Backcheck ($30 Plus HST; External CRC’s are not accepted)

2 / It says fee or non-fee on the top of the candidate application, which one am I suppose to choose?

Fee vs. Non-Fee Classification – Which are you?

Fee

If you prepare or assist in the preparation of an appraisal report, (regardless of whether you sign the report) and the report is provided to a third party that relies upon it, then you should consider yourself a “Fee” Member.

Non-Fee

If you are not currently working as an appraiser or you prepare or assist in the preparation of an appraisal report and the report is used internally and is NOT provided to a third party, then you should consider yourself a “Non-Fee” Member. (e.g. you are employed by a municipality and prepare reports for internal use only)

It is important that you understand the distinction as it may affect whether you have proper insurance coverage.

3 / What business information is required on the candidate application?

When filling out the Candidate Application please provide the relevant appraisal business information from the firm you are employed by or your company details.

4 / I am a prospective member and currently unemployed, can I still join AIC-ON as a candidate member?

Prospective members are able to join with all entry requirements complete, purchase non-fee insurance and actively look for employment. Fee insurance can be purchased later if the appraisal work requires it. Our office does however recommend applying for student membership, making use of the membership resources on the AIC website and joining as a candidate when employment is obtained.

5 / Where do I find the amount for the 1st Year Membership dues?

Please contact info@aicontario.ca for the AIC-ON for the 1st year dues amount. First (1st ) year dues are determined by which Chapter you will belong to in Ontario; this is based on the city or town in which you live or work. If this is not indicated on the membership application form, we will base your chapter on your home address.

6 / Is my experience before I join as a candidate member recognized?

You are automatically enrolled in the Applied Experience Program upon your candidacy start date.

Education FAQs

1 / Can I join if I do not have any post-secondary education?

To join AIC-ON you are required to provide 2 years post secondary education from an accredited college/university.

2 / I have credits from different education programs, am I able to join with them?

To join AIC-ON you are required to provide 2 years post secondary education from an accredited college/university. Depending on the categories of education completed, it can be evaluated to see if further studies may produce course credits toward a university degree. This can be determined by contacting either Thompson River University or Athabasca University.

3 / I have a college diploma, am I able to join with it?

To join AIC-ON you are required to provide 2 years post secondary education from an accredited college/university. If you have a College Diploma, it can be evaluated to see if further studies may produce course credits toward a university degree. This can be determined by contacting either Thompson River University or Athabasca University.

4 / What type of degree do I require to become designated?

A 3 or 4 year degree from an accredited college/university is acceptable for designation purposes.

5 / I have an international degree, am I required to submit anything with it?

All education completed outside of Canada requires a credential assessment. We recommend WES, ICAS, or Toronto University’s Comparative Education Services.

6 / If I am a Real Estate Agent, what courses am I exempt from?

The only course recognized by AIC is the Property Law course (BUSI112), however, it is required that it be evaluated for equivalency by UBC’s admissions officer. There are no other Realtor courses that afford exemptions with AIC’s designation courses.

7 / I think some of my existing education may exempt me from designation courses, how do I find this out?

Exemptions are required to be evaluated by UBC’s admissions officer. Common courses that have exemptions are the Micro and Macro Economics courses (BUSI100 & BUSI101).

8 / What is the Post-Graduate Certificate in Real Property Valuation (PGCV) program from UBC?

This is the commercial designation (AACI) education fast track program. If eligible (determined by UBC’s Admissions officer), members are required to complete 6 courses to become designated. Click here for more information.

Professional Liability Insurance FAQs

1 / How do I purchase Professional Liability Insurance?

Once AIC-ON has processed your candidate membership, you will be provided a welcome email with information regarding next steps including instructions on purchasing liability insurance.

2 / What type of insurance must I purchase?

Fee vs. Non-Fee Classification – Which are you?

It is important that you understand the distinction as it may affect whether you have proper insurance coverage.

Fee

Non-Fee

3 / How much does Professional Liability Insurance Cost?

Every year AIC provides a communication regarding the breakdown for Insurance costs and rationale.

4 / If I am not working and still wish to become a candidate member, am I required to purchase insurance?

Professional Liability Insurance must be purchased immediately upon becoming a Candidate member. This coverage is mandatory for all Candidate Members– whether you are actively working in the industry or not.

5 / AM I required to pay the insurance fee in full?

Members can pro-rate their payments OR pay in full for the year.

6 / Am I required to purchase insurance through AIC's Insurance Program?

It is mandatory for all members to purchase insurance through AIC’s Professional Liability Insurance program.

Working in the best interest of our members, the AIC’s Insurance program exists to:

• create a stable guaranteed source of insurance for members;

• ensure adequate coverage can be obtained under reasonable terms;

• provide dedicated, professional insurance services to members at a reasonable cost, directly related to the claims experience of the profession;

• minimize administrative “red tape

7 / What is the insurance cycle?

The insurance cycle runs from January 1st until December 31st.

Retirement FAQs

1 / How do I retire my membership?

Fill out the Retired Declaration form and send it to info@aicontario.ca for processing.

2 / Who is retired membership recommended to?

Retirement is recommended for those that completed Fee appraisal work, and require tail coverage for 7 years should a claim arise in the future. This also an option for those that still wish to affiliate themselves with our organization.

3 / If I am retiring in September, do I need to pay any dues?

If a member is retiring in September of AIC’s Dues cycle, retired dues payment is required by the AIC-ON Office for the upcoming dues cycle. Contact info@aicontario.ca for the retired dues amount.

4 / If I am retiring in December, do I need to pay any dues?

If a member is retiring in December, the AIC-ON office will process the retirement and notify the AIC office and Insurance. The retired member will then be required to pay retired dues at dues renewal time in September.

PLEASE NOTE: Membership dues are non-refundable.

5 / How much does “run off/tail coverage” cost when retiring?

Tail coverage is calculated by averaging the previous three years of insurance payments made by you.

6 / Do I need to pay for “run off/tail coverage” for 7 years?

The tail insurance is a one time payment OR prorated over the first year of retirement.

7 / Is “run off/tail coverage” mandatory to retire?

Retired Members are not obligated to purchase run-off coverage, however, it is recommended as a best risk management practice.

8 / Retirement- 25 Year Rebate *applicable to those retiring Dec 31st only

AIC has established a policy for long-term members; those with 25 or more consecutive years of membership are entitled to receive a pro-rata refund for both the Provincial and National dues amounting to 9/12ths of your dues. This is only applicable for those who are retiring Dec 31st. This is a one-time-only offer and cannot be exercised more than once by a member.

Should a retired member (availing themselves of this opportunity) choose to reinstate to active membership at a future date, they will be required to return the amount of the pro-rata refund to both the Provincial and National offices prior to reinstatement in addition to any reinstatement fees and charges that may be applicable at that time.

9 / Is there anything I need to do ongoing while being a retired member?

To remain in good standing as a retired member, (and keep active tail coverage if you purchased it) you are required to pay the annual retired fees that are approximately $100/year.

Resignation FAQs

1 / How do I resign my membership?

Send an email to info@aicontario.ca with your name, AIC Member #, and the date indicating your resignation.

2 / What are the implications of resigning my membership?

As per AIC Guidelines:

Members who resign are not entitled to receive any benefits including insurance coverage.
Following resignation, you may no longer hold yourself out as a Member of the AIC or use any of its designations, emblems or trademarks.
Members who resign are deemed to have also cancelled their insurance protection effective their resignation date.
Resigned Members do not have insurance protection for any future insured claims resulting from work done prior to resignation.
This also extends to the resigned members’ employer or any review appraisers who have co-signed reports completed by the member prior to resignation.
Resigned members may wish to obtain coverage from private sources.

Compassionate Leave FAQs

1 / How do I put my membership on Compassionate Leave?

Email info@aicontario.ca with a request to go on Compassionate Leave. A medical note may be required depending on the nature of the Leave Request.