This course provides an analytical framework for assessing risks in commercial real estate and ensuring the quality of lending decisions. It reviews the different types of risks inherent in real estate deals, guides students through cash flow and coverage analyses, and highlights issues of valuation and loan structuring.
Upon completion of the Analyzing Commercial Real Estate course, learners will be able to:
- Distinguish different types of income-generating properties
- Assess property-specific and external risks associated with lending against commercial properties
- Evaluate the quality of income sources associated with commercial real estate
- Structure historical and projected property cash flow statements to assess the property's ability to generate sufficient cash
- Perform meaningful sensitivity analysis to keep loans current in less-than-ideal circumstances
- Properly use commercial real estate appraisals
- Make sound, defensible lending decisions, and put in place solid loan structures
| Approximate Hours of Study** | |
|---|---|
| Hours of Study | 12 - 14 hours |
** In order to provide some guidance to course participants as to the length of time it will take to be sufficiently prepared to write the final examination, CSI has prepared this estimate of the number of hours an average participant could possibly expect to spend studying for a course. Please note that these are only recommended hours of study developed based on research and our course content, however, this does not mean that some students with exceptional backgrounds would not take less time than recommended or that students with no background at all in finance or economics would not take longer than the maximum.
How you'll learn
The course is taught online and is composed of 8 modules representing the topics of study. Each module consists of:
- A diagnostic test to help you identify areas where you should focus your studies
- 2 to 4 lessons, each estimated to take 20 to 30 minutes. Each lesson ends with a quiz to help reinforce the concepts reviewed in the lesson.
- A module exam, similar to the diagnostic, to test your mastery of the principles in the module.
| MODULES | |
|---|---|
| Commercial Real Estate Analysis Foundations | |
| The Property | |
| External Risks | |
| Property-specific Risks | |
| Cash Flow Analysis | |
| Coverage Analysis | |
| Property Valuation Issues for Lenders | |
| Financing & Loan Structure |
| ONLINE TEST ASSESSMENTS | |
|---|---|
| Number of Module Tests | 8 |
| Test Format | Online |
| Test Length | Varies - 15 minutes to 27 minutes |
| Test Format | Multiple Choice and True/False |
| Questions Per Test | Varies |
| Attempts Allowed Per Test | 2 |
| Passing Grade | 70% |
| ENROLMENT PERIOD | |
|---|---|
| Enrolment Period | 6 months† |
About the Exam
The ACRE exam is completely online and accessible through your online course. Advance booking is not required.
*There is no charge for your first attempt at a paper-based exam within Canada, as long as it's at a regular exam center and you provide a minimum of 14 days notice before the date that you want to write the exam. If you would like to write a computer-based exam, an additional $75 fee will be required.
Each subsequent paper-based exam attempt at a regular exam centre within Canada cost $250 plus tax. This fee is in addition to any special, computer-based or international fees that may apply. You must provide a minimum of 14 days notice within Canada at a regular exam centre and 4 weeks notice for all other centres. Please note that the date of the exam is not part of any notice period.
†ACRE can be extended by 6 months for a fee of $120 provided you have not exceeded the attempts allowed for each exam. Your enrolment period can only be extended one time.
Important: During a student's enrolment period, CSI may update this course. In that case, details about the update and how it may affect students will be posted online via My CSI. Students are held responsible for and are examinable on the content in the course textbook(s) provided at the time of enrollment unless stated otherwise in My CSI. Students are encouraged to check My CSI regularly throughout their enrolment period.
Continuing Education (CE) Credits
Click the links below or the buttons at the top of the page on the right side to access CE accreditation information. To search for specific course information, press Ctrl + F and then enter the course name to search the document for the information you are interested in.
National/Provincial (Excluding Quebec)
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Quebec (IQPF/CSF)
Download IQPF/CSF Chart (PDF, 182 kb)
Please note: While CSI makes every effort to ensure that the information is up-to-date, we are unfortunately unable to fully guarantee its accuracy. The information listed in the charts above may be subject to change.
For details on the organizations and other information on CE Credits listed in the above charts, please click here.