CRI Charter Designation (Level II)
In This Section
The Charter (Level II) Designation is the second and final step in the Chartered Realty Investor® (CRI®) Designation program. The CRI Charter (Level II) Designation recognizes the experience of the commercial/multifamily professional who has already earned the Associate level designation and has achieved an understanding of more complex commercial/multifamily real estate finance, knowledge of capital markets, securitization, portfolio management theory all incorporating ethics and standards.
NEW THIS YEAR: Level II Enhancements
We've made improvements to the Level II study guide and exam to help you take your career to the next level.
- Now offered online using a virtual proctor so you can take the exam from anywhere
- Revised study guide with relevant information, scenario examples, and financial formulas
- New comprehensive practice test to help you prepare for the exam
- Updated supplemental references that provide additional data and guidance
The first step is to apply and be accepted as a Charter candidate. By purchasing the $100 application package, the Charter applicant will receive:
- CRI Charter Application
- CRI Charter Applicant Reference Form
- Chartered Realty Investor Applicant Disclosure Form
- Chartered Realty Investor Applicant Conduct Statement
Once accepted, the Charter applicant becomes eligible to enroll in the Level II 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 examination.
The exam consists of 100 multiple-choice questions on the concept of real estate portfolio management theory and capital markets. Summary of exam topics:
- Capital market instruments (fixed income securities, equities, hybrid instruments)
- Real estate asset management at property level (maximizing value for equity and debt investors)
- Real estate asset management at portfolio level (asset liability management, capital structure, etc.)
- Management and classes (asset classes and markets, allocation, derivatives, benchmarking)
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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.