- The CAE Comprehensive (Master) Exam is 100 one-point multiple-choice questions in eight hours, closed book.
- Passing requires a 70% score, reported strictly as pass/fail - no scaled score is released.
- First master-exam attempt costs $245 member/$395 non-member; retakes drop to $195/$295.
- Required courses include IAAO 101, 102, 112, 400, an approved modeling course, Workshop 171, and 151 or USPAP.
Quick Facts Snapshot
This page is the condensed reference sheet for the Certified Assessment Evaluator (CAE) designation administered by the International Association of Assessing Officers (IAAO). It exists so that once you've done the deep work in the CAE Study Guide 2026: How to Pass on Your First Attempt, you have one page to glance at the night before your exam instead of re-reading manuals.
| Item | Detail |
|---|---|
| Exam name | CAE Comprehensive Examination (a.k.a. CAE Master Examination) |
| Question count | 100 one-point multiple-choice questions |
| Time allowed | Eight hours, plus an optional lunch break of up to one hour |
| Passing grade | 70%, pass/fail reporting only |
| Format | Closed book; stand-alone calculator with formulas cleared; proctor-approved scratch paper |
| Candidacy window | Five years from candidacy application to completion |
Exam Format at a Glance
The CAE Comprehensive Exam is deliberately long and closed-book, so pacing matters as much as content mastery. Each of the 100 questions is worth one point, and there's no partial credit or weighted scoring - it's a straight percentage against the 70% passing grade. For a full breakdown of how that threshold is calculated and why it matters more than any single domain, read CAE Passing Score 2026: Exactly What You Need to Pass.
- Proctoring: Requires an IAAO-approved proctor, preferably a CAE designee; committee-authorized remote arrangements are possible but must be approved in advance.
- Calculators: Stand-alone calculators are permitted only if stored formulas are cleared beforehand - bring a basic model you've tested, not a financial calculator loaded with templates.
- Scratch paper: Allowed, but only if proctor-approved; don't assume you can bring your own notepad.
- Break: The lunch break is optional and capped at one hour - plan whether you'll use it or push through.
If you're still deciding whether this exam is realistic for your schedule and background, How Hard Is the CAE Exam? Complete Difficulty Guide 2026 and CAE Pass Rate 2026: What the Data Shows go into more depth than this cheat sheet allows.
The Three Domain Areas
IAAO organizes the CAE credential scope around three official domain lines. These are not a weighted blueprint with published percentages - they're the site's organizing structure for what a Certified Assessment Evaluator is expected to know. Treat them as content buckets to study, not a scoring formula.
Domain 1: Property Valuation for Tax Purposes
Covers the appraisal methods and modeling concepts a mass appraiser applies to real property for ad valorem tax purposes.
- Income approach mechanics (tied directly to IAAO 102 and 112 coursework)
- Residential and commercial modeling concepts from the approved modeling course
Domain 2: Property Tax Administration
Focuses on the operational side of running an assessment jurisdiction, drawing heavily on IAAO 400.
- Assessment administration procedures and workflows
- Practical application of standards covered in Workshop 171
Domain 3: Property Tax Policy
Addresses the legal, ethical, and policy framework surrounding assessment work, including USPAP compliance.
- Uniform Standards of Professional Appraisal Practice concepts from IAAO 151 or the two-day 15-hour National USPAP course
- Policy implications of valuation and administration decisions
For a much more detailed walkthrough of each domain, including how they connect to the required courses, see the CAE Exam Domains 2026: Complete Guide to All 3 Content Areas.
Required Courses and Prerequisites
Before you can sit the Comprehensive Exam, you need candidacy in good standing, five years of relevant experience, and a specific slate of coursework. This is the part candidates most often get wrong by skipping a course or assuming an older version still counts.
- IAAO 101 - Fundamentals of Real Property Appraisal
- IAAO 102 - Income Approach to Valuation
- IAAO 112 - Income Approach to Valuation II
- IAAO 400 - Assessment Administration
- Approved modeling course - currently listed as 311 Real Property Modeling Concepts; legacy 311 Residential Modeling Concepts or 312 Commercial/Industrial Modeling Concepts are also accepted under procedural rules
- Workshop 171
- IAAO 151 or an approved two-day 15-hour National USPAP course for U.S. candidates (a local-standards alternative applies outside the U.S.)
Key Takeaway
Check your course list against the December 2025 development manual before applying for candidacy - the accepted modeling-course names have changed over time, and using a legacy course title without confirming it's still recognized can delay your eligibility.
On top of coursework, candidates need a bachelor's degree or the documented high-school-plus-100-point alternative (10 points per three qualifying semester credits or per year of qualifying experience, with standalone routes of 30 credits or 10 years). The full eligibility picture, including the five-year candidacy completion window and the experience affidavit that follows a passing score, is covered in CAE Requirements 2026: Eligibility, Prerequisites & How to Qualify.
Fee Schedule Cheat Sheet
Budgeting for CAE is more than just the exam fee - course tuition, case studies, and report grading all add up. Here's the published schedule for candidacies beginning in 2021 or later.
| Item | Member | Non-Member |
|---|---|---|
| Candidacy application | $145 | $225 |
| Master exam, first attempt | $245 | $395 |
| Master exam, second attempt | $195 | $295 |
| Case-study exam, first attempt | $295 | $415 |
| Demonstration-report grading (original) | $500 | $1,000 |
| Optional comprehensive-exam review program | $50 | $100 |
| Annual first-designation dues | $170 | $240 |
Required course fees are additional and not included above. For the complete cost picture across a full candidacy - including how these line items stack up over several years - see CAE Certification Cost 2026: Complete Pricing Breakdown. If you're still weighing whether the total investment pays off, Is the CAE Certification Worth It? Complete ROI Analysis 2026 and CAE Salary Guide 2026: Complete Earnings Analysis put the fees in context against career outcomes.
Demonstration Reports and Case Studies
Beyond the multiple-choice exam, candidates must complete both residential and commercial projects, with at least one narrative demonstration appraisal report. The other project can be an accepted case examination instead.
- The separate commercial case-study exam has 75 questions - a different format from the 100-question Comprehensive Exam.
- Original demonstration-report grading carries its own fee ($500 member/$1,000 non-member) and is distinct from the case-study exam fee ($295/$415 for the first attempt).
- An optional comprehensive-exam review program ($50/$100) is available if you want structured feedback before sitting the Master Exam.
Retake Rules and Timelines
If you don't pass on your first try, the wait times step up the second time around:
- First retake: 30-day waiting period after a failed attempt.
- Second retake: 180-day waiting period after a failed re-examination.
- Retake fee: Drops from $245/$395 to $195/$295 for the second attempt.
This is one more reason to treat your first sitting as the real attempt rather than a "trial run" - a failed attempt costs both money and months. Use the mock exams on our CAE practice test platform to gauge readiness honestly before you register.
Recertification at a Glance
Earning the designation isn't the finish line. Certified Assessment Evaluators must recertify every five years with 70 credit hours. U.S. designees additionally need at least 14 hours across two USPAP releases and two hours of qualifying IAAO ethics content within that total.
Recertification Minimums
- 70 total credit hours
- At least 14 hours across two USPAP releases (U.S. designees)
- At least 2 hours of qualifying IAAO ethics content
Final Week Prep Sequence
In the last stretch before exam day, resist the urge to start new material. Instead, sequence your remaining time around the domains where you're weakest, cross-checked against the courses that feed each one.
Domain 1 Review
- Re-work income approach problems from IAAO 102/112 notes
- Drill modeling-course formulas until calculator entry is automatic
Domain 2 Review
- Revisit IAAO 400 administration procedures
- Skim Workshop 171 materials for practical application questions
Domain 3 and Logistics
- Review USPAP/IAAO 151 concepts one final time
- Confirm proctor arrangements, calculator setup, and scratch-paper rules
For the broader multi-month version of this plan, not just the final week, go back to the full CAE Study Guide 2026: How to Pass on Your First Attempt. And if you haven't yet, running timed sets on CAE Exam Prep's practice tests in these final days will surface gaps faster than passive re-reading.
Frequently Asked Questions
No. It is closed book. You may use a stand-alone calculator with stored formulas cleared, and scratch paper only if it is proctor-approved.
The Comprehensive Exam has 100 one-point multiple-choice questions administered over eight hours, with an optional lunch break of up to one hour that is not required.
You need 70% to pass. Results are reported as pass/fail only - there is no scaled score breakdown by domain.
The first master-exam attempt costs $245 for IAAO members and $395 for non-members, for candidacies beginning in 2021 or later. This is separate from candidacy application fees and required course fees.
You must wait 30 days before your first retake. If you fail the re-examination as well, the wait extends to 180 days before you can try again, and the retake fee drops to $195 member/$295 non-member.