“The first exam (of two), written by industry experts from a content survey by 3,000 senior real estate executives across the industry, measures everything the transactional professional needs to navigate from origination through closing of a singular transaction.”
–Jack Cohen, CRI, CMB, President and CEO of Cohen Financial
The Associate examination is the first step toward earning the CRI Charter and demonstrating your commitment to ethics-based competency in commercial real estate.
Associate Fast Facts:
- The Exam consists of 225 multiple-choice questions
- The Exam focuses on the core concepts of commercial real estate at the property level
- Each candidate has one year to study and pass the exam, if the candidate fails there is $150 Retest fee that must be submitted with the Retest application.
- Associate Exam Cost is $400
The CRI Associate Candidate Guide provides the candidate a focused direction in preparing to sit for the Associate exam. The Mortgage Bankers’ Association (MBAA) has created an optional study guide and a seperate prep course specifically geared towards preparing Associate candidates. Additionally, the candidate may choose to acquire four (4) main reference books that cover the majority of the topics covered. View all Associate resources.
A brief summary of the test components include:
- 13% Property Issues (acquisitions, ownership, dispositions, property types, etc.)
- 6% Taxation and Accounting
- 15% Law (environmental, mortgages and security agreements, creditor rights, business entities)
- 18% Real Estate Analysis and Valuation (finance, appraisal, debt coverage ratios, yields, duration, etc.)
- 15% Underwriting Mortgage Loans (property data, sponsorship, structure, technical requirements of CMBS)
- 33% Real Estate Due Diligence (environmental and property reports, zoning, lease and financial review)
If you are interested in becoming a Candidate for the CRI Certification and have additional questions, let us know.