IVSL Valuer Exam study plan

Map the full Domain 1 and Domain 3 syllabus into a one-page topic tree, tagging each topic as know, shaky, or unknown

Define and write out from memory the valuation process steps (instruction, terms of engagement, inspection, highest and best use, approach selection, reconciliation, reporting) without notes

Explain in writing the difference between price, cost, market value, fair value and investment value, with one worked example of each

Solve three direct-capitalisation problems using income divided by capitalisation rate, showing every intermediate figure

Compare the three valuation approaches (cost, income, market) and state for each the data required, the situations where it is most reliable, and its main weaknesses

Apply the cost approach to a depreciated replacement cost problem, computing replacement cost, physical deterioration, functional obsolescence and external obsolescence separately

Draft a full terms of engagement letter covering scope, purpose, basis of value, assumptions, limiting conditions, fees and complaint route

Distinguish valuation, appraisal review, consultancy and advocacy, and state which standards apply to each

Compute market value of a residential property using the sales comparison approach with at least four comparables, adjusting explicitly for date, size, location and condition

Build a small spreadsheet that converts a series of comparables into an adjusted value range and a reconciled point estimate

Explain the concept of highest and best use and test it against four legal, physical, financial and maximally productive criteria for one sample site

Calculate net operating income from a rent roll, deducting vacancy, collection loss and operating expenses but excluding debt service and depreciation

Value a commercial or investment property using the income approach, including a simple discounted cash flow with at least a five-year holding period and a terminal value

Derive a capitalisation rate from comparable sales and explain the relationship between cap rate, discount rate and growth

Apply the cost approach to a specialised property where no market evidence exists and justify the choice of approach in writing

Identify and quantify the main sources of valuation uncertainty and state how each would be disclosed in a report

Write out the core ethical principles expected of a valuer (integrity, objectivity, competence, confidentiality, professional behaviour) and give one realistic Sri Lankan practice scenario for each

Analyse at least six conflict-of-interest scenarios (contingent fees, pressure from a lender, valuation for both sides of a transaction, undisclosed referral fees) and state the correct course of action

Distinguish a fee that is fixed, hourly, percentage-based and contingent, and explain which are ethically problematic and why

Draft the disclosure language you would use when you must decline or withdraw from an instruction on ethical grounds

Outline the legal framework governing valuers in Sri Lanka, including the professional bodies, registration or licensing routes and the consequences of unprofessional conduct

List the statutory and regulatory contexts in which valuations are routinely required (lending, taxation, compulsory acquisition, financial reporting) and note who relies on the report in each

Summarise the key statutory provisions on compulsory acquisition and compensation, and explain the valuer's role in that process

Explain the requirements for record keeping, professional indemnity insurance and continuing professional development for a practising valuer

Integrate ethics and law by analysing five cases where a legal requirement and an ethical duty pull in different directions, and resolve each

Review your Domain 1 notes and rewrite any standard or definition you got wrong in weeks 1 to 4

Complete a timed 40-question mixed mock across all four domains and record your score per domain

Identify your three weakest subtopics from the mock and write a targeted remediation list for each

Complete two further timed full-length mocks under exam conditions and score each per domain

Re-drill every question missed across all mocks until you can state the correct answer and the reason without prompts

Recite from memory the definitions, the valuation process, the ethical principles and the legal framework headings in a single 30-minute self-test

Finalise a one-page exam-day sheet of formulas, definitions and decision rules that you will review in the last 48 hours