The ASAEF aspires to carry on educational, research, and charitable activites related to the advancement of appraisal.

Education Courses

MTS Courses - Machinery and Technical

MTS202 & MTS203 are both 27 hours with a 3-hour exam. MTS204 is 27 hours with a 4-hour exam. These offerings will cover the same topics and information as the classroom offerings. Course fee includes a student manual.

Please note: No ASA re-accreditation credit will be awarded for the online or audio versions of these courses for designated members who have previously taken the course.

MTS202AC: Machinery and Equipment Valuation Methodology

The objective of this course is to provide students with a better understanding of the types of value commonly used in the appraisal of machinery and equipment. This course addresses the issues of price vs. value; indirect costs; use of and development of indexes; age-life concepts; recommended rounding of figures; types of values for M&E appraisal - reproduction cost new, replacement cost new, replacement cost depreciated, fair market value in use, orderly liquidation value, forced liquidation value; supporting conclusions for various purposes.


MTS203AC: Advanced Topics and Case Studies

The objective of this course is to introduce more advanced concepts and techniques than those taught in MTS202. A review of case studies illustrating a range of operating entities will be employed. This course will explore exponential pricing techniques; cost estimation; reproduction vs. replacement costs; quantifying functional obsolescence; use of research data; time value of money calculations, and more.


MTS204AC: Advanced Topics and Report Writing

The objective of this course is to apply all the knowledge gained in the previous courses to the valuing of facilities and the completion of a professional appraisal report. This course also provides a comprehensive review of the concepts studied in the previous three courses.


Contact Us


If you have questions about your order, contact: National Media Services, Inc. at 540-635-4181 or email:

If you have questions about ASA or the course content, testing or proctor requirements, please contact the American Society of Appraisers.
Their education staff directory is below:

Stephanie Paratore
Sr. Manager, Education Programs
(703) 733-2137