CRI Associate Designation (Level I)

Body CRI Associate Level I Designation

The Associate (Level I) Designation is the first milestone in the Chartered Realty Investor® (CRI®) Designation program. The Chartered Realty Investor (CRI) Associate (Level I) Designation recognizes commercial/multifamily real estate professionals who have achieved a foundation of knowledge in basic commercial real estate finance and commercial/multifamily real estate law practices, theories and applications.


The first step is to apply and be accepted as an Associate (Level I) candidate. By paying the $100 application fee, the candidate will receive the application package, which consists of:

  • CRI Associate Application
  • CRI Associate Applicant Reference Form
  • Chartered Realty Investor Applicant Disclosure Form
  • Chartered Realty Investor Applicant Conduct Statement  

MBA Education accepts applications throughout the year, and there are no application deadlines.

Associate (Level I) Application Fee

Exam Enrollment

Once accepted, the Associate applicant becomes eligible to enroll in the Level I Exam. Detailed enrollment information will be provided upon acceptance. The enrollment fee is $1,050. 

Upon enrollment, the candidate will be given access to MBA's learning management system, which houses the exam, study guide, reference materials, and practice tests. Each candidate has 12 months from enrollment to study and pass the exam.

Exam Facts

The exam consists of 200 multiple-choice questions on the core concepts of commercial/multifamily real estate at the property level.

Summary of exam topics:

  • Property issues (acquisition, ownership, disposition, property types, etc.)
  • Taxation and accounting
  • Law (environmental, mortgages and security agreements, creditor rights, business entities)
  • Real estate analysis and valuation (finance, appraisal, debt coverage ratios, yields, duration, etc.)
  • Underwriting mortgage loans (property data, sponsorship, structure, technical requirements of CMBS
  • Real estate due diligence (environmental and property reports, zoning, lease and financial reviews)

Contact us for more information.      

The Mortgage Bankers Association owns the intellectual property related to the examination and administers the exams on behalf of the Chartered Realty Investor® Society. All exam related questions should be forwarded to the MBA. The CRI Society owns the trademark and designation. All CRI membership questions should be forwarded to the CRI Society.