The terms and phrases in this Policy shall have the meanings assigned to each of them in Article (1) of the Accredited Valuers Law issued by Royal Decree No. (م/43) dated 9/7/1433 AH and its amendments, and Article (1) of the Implementing Regulation of the Law issued by the Decision of the Minister of Finance No. (107) dated 28/1/1445 AH, and Article (1) of the General Rules for the Fellowship Certificate of the Authority issued by the Decision of the Authority’s Board of Directors No. (3/40/م/23) dated 6/1/1445 AH.

1. The applicant must ensure, before registration in the levels, that he meets the regulatory requirements stipulated in the Law, Regulation and Rules, and what is issued by the Authority in this regard, and the competent department has the right to verify this at all levels and exclude non-compliant applicants.
2. The competent department announces before the beginning of each fiscal year - the annual plan for the dates of conducting training courses, examinations and discussions, and their venues, and any amendments thereto through the Authority's electronic portal.
3. Registration for scheduled training courses, examinations and discussions is opened well in advance of their date, and registration is done through the Authority's electronic portal.
4. Each curriculum referred to in Article (3) of this Policy shall have an independent written or practical examination, unless the curriculum includes preparation of a practical application project and its discussion.
5. The period for submission of the practical application project for discussion in the sectors (Real Estate Valuation, Machinery and Equipment Valuation, and Precious Metals and Gemstones Valuation) is (180) days, and in the Business Valuation sector (365) days. The calculation starts from the day after the end date of the related training course or the last course in the training program, or from the date of notifying the applicant of failing the discussion, as the case may be.
6. Each level is a prerequisite for registration in the next level.
7. A decision by the CEO shall specify the academic qualifications that are equivalent to some of the level curricula. This equivalence shall result in the applicant being considered as having passed the training course for those curricula. The equivalence of some level curricula does not violate the regulatory requirements stipulated in the rules and regulation governing the valuation profession for passing the level, including the requirement that the applicant for registration in the second level and above has valid membership.

First: The levels in all accredited valuation sectors shall not be less than (3) levels. The following are their contents according to each sector:

1. Level One: The set of foundational knowledge, concepts and values related to the main and sub-competencies of valuation according to each sector. They are provided through a number of training courses for the approved curricula according to each sector, as follows:
   
   1. Real Estate Valuation Sector: Level One consists of training courses for each curriculum as follows:
      
      1. Training course in (Regulatory Framework of the Valuation Profession and International Valuation Standards) curriculum No. (001).
      2. Training course in (Basic Real Estate Valuation Principles) curriculum No. (102).
      3. Training course in (Basic Real Estate Valuation Procedures) curriculum No. (103).
   2. Business Valuation Sector: Level One consists of training courses for each curriculum as follows:
      1. Training course in (Regulatory Framework of the Valuation Profession and International Valuation Standards) curriculum No. (001).
      2. Training course in (Business Valuation Competencies Participant) curriculum No. (200).
      3. Training course in (Principles of Business Valuation) curriculum No. (201).
      4. Training course in (The Income Approach) curriculum No. (202).
   3. Machinery and Equipment Valuation Sector: Level One consists of training courses for each curriculum as follows:
      1. Training course in (Regulatory Framework of the Valuation Profession and International Valuation Standards) curriculum No. (001).
      2. Training course in (Principles in Machinery and Equipment Valuation and Valuation Approaches) curriculum No. (401).
      3. Training course in (General Concept About Machine Shops and Its Valuation Procedures) curriculum No. (402).
   4. Vehicle Damage Assessment Sector: Level One consists of training courses for each curriculum as follows:
      1. Training course in (Regulatory Framework for Vehicle Damage Assessment Profession) curriculum No. (300).
      2. Training course in (Manufacture and Design of Vehicle Body) curriculum No. (301).
   5. Precious Metals and Gemstones Valuation Sector: Level One consists of training courses for each curriculum as follows:
      1. Training course in (Regulatory Framework of the Valuation Profession and International Valuation Standards) curriculum No. (001).
      2. Training course in (Valuation Theory for Gems & Jewelry) curriculum No. (501).
2. Level Two: It builds structurally on Level One, linking, analyzing and applying concepts and knowledge of valuation according to each sector in a more in-depth and functional manner directly related to the profession. It is provided through a number of training courses for the approved curricula according to each sector, as follows:
   1. Real Estate Valuation Sector: Level Two consists of training courses for each curriculum as follows:
      1. Training course in (Cost Approach, Building Materials, and Principles of Occupational Health and Safety) curriculum No. (104).
      2. Training course in (Real Estate Valuation Using Market and Income Approaches) curriculum No. (105).
      3. Training course in (Market Analysis and Highest and Best Use Studies) curriculum No. (106).
      4. Training course in (Real Estate Regulation, Urban Planning Principles, Sustainability, and Teamwork) curriculum No. (107).
   2. Business Valuation Sector: Level Two consists of training courses for each curriculum as follows:
      1. Training course in (Case Study and Valuation Model ) curriculum No. (203).
      2. Training course in (Advanced Topics in Business Valuation ) curriculum No. (204).
   3. Machinery and Equipment Valuation Sector: Level Two consists of training courses for each curriculum as follows:
      1. Training course in (Applied Valuation for Machinery and Equipment - General Industries) curriculum No. (403).
      2. Training course in (Applied Machinery and Equipment Valuation - Specialized Industries) curriculum No. (404).
   4. Vehicle Damage Assessment Sector: Level Two consists of training courses for each curriculum as follows:
      1. Training course in (Repair Process and Techniques Required in Vehicle Construction and Materials Used) curriculum No. (302).
   5. Precious Metals and Gemstones Valuation Sector: Level Two consists of training courses for each curriculum as follows:
      1. Training course in (Advanced Topics in Gems and Jewelry ) curriculum No. (502).
3. Level Three: Represents the advanced depth of competencies, structurally building upon Levels One and Two. At this level, all learning levels are evaluated, and the applicant's performance is measured through objective tests, advanced practical projects within the training path for case studies involving valuation of different asset types according to each sector, and submission of a project prepared and discussed by the applicant.  This is to ensure the applicant's readiness to practice the profession according to market requirements and with performance compliant with the regulation and rules governing the valuation profession.  It is provided through a number of training courses for the approved curricula according to each sector, and the practical projects prepared by the applicant according to the requirements of each sector, as follows:
   1. Real Estate Valuation Sector: Level Three consists of training courses for each curriculum as follows:
      1. Training course in (Real Estate Development and Valuation Using Residual Value Method) curriculum No. (108).
      2. Training course in (Land Economics and Real Estate Investment) curriculum No. (109).
      3. Training course in (Application of Accounting, Finance and Tax Principles in Real Estate Valuation) curriculum No. (110).
      4. Training course in (Analysis of Financial Instruments and Real Estate Investment) curriculum No. (111).
      5. Training course in (Advanced Methods in Real Estate Valuation Using Income Approach) curriculum No. (112).
   2. Business Valuation Sector: Level Three consists of training courses for each curriculum as follows:
      1. Training course in (Valuation of Intangible Assets) curriculum No. (205).
      2. A practical application project must be submitted and discussed.
   3. Machinery and Equipment Valuation Sector: Level (Three) consists of training courses for each curriculum as follows:
      1. Training course in (Applied Machinery and Equipment Valuation – Integrated Project ) curriculum No. (405), and a practical application project must be submitted and discussed.
   4. Vehicle Damage Assessment Sector: Level (Three) consists of training courses for each curriculum as follows:
      1. Training course in (Case Studies for Vehicle Damage Assessment) curriculum No. (303), and practical cases of vehicle damage assessment.
   5. Precious Metals and Gemstones Valuation Sector: Level (Three) consists of training courses for each curriculum as follows:
      1. Training course in (Supplementary Project for Gems and Jewelry Valuation) curriculum No. (503), and a practical application project must be submitted and discussed.
4. Level Four: Represents the advanced stages of competencies in some valuation sectors that require intensive qualification, and it is constructively dependent on the previous levels. At this level, the applicant's performance is measured through advanced practical projects within the training path for case studies involving valuation of different asset types according to each sector, and submission of a project prepared and discussed by the applicant.  This is to ensure the applicant's readiness to practice the profession according to market requirements and with performance compliant with the regulation and rules governing the valuation profession.  It is provided through a number of training courses for the approved curricula according to each sector, and the practical projects prepared by the applicant according to the requirements of each sector, as follows:
   1. Real Estate Valuation Sector: Level Four consists of training courses for each curriculum as follows:
      1. Training course in (Commercial Real Estate Valuation) curriculum No. (113/114), and submission of a practical application project and its discussion.
      2. Training course in (Valuation of Hotels, Entertainment and Historic Properties) curriculum No. (115/116), and submission of a practical application project and its discussion.

Second: Requirements for passing the levels for all accredited valuation sectors are as follows:

1. Attending the approved curricula training courses at the levels with no less than 75% attendance rate for each course separately. As an exception; the applicant may directly register for the exams without attending the training courses only for the following curricula:
   1. (Regulatory Framework of the Valuation Profession and International Valuation Standards) Curriculum No. (001).
   2. (Basic Real Estate Valuation Principles) Curriculum No. (102).
   3. (Basic Real Estate Valuation Procedures) Curriculum No. (103).
   4. (Cost Approach, Building Materials, and Principles of Occupational Health and Safety) Curriculum No. (104).
   5. (Real Estate Valuation Using Market and Income Approaches) Curriculum No. (105).
   6. (Market Analysis and Highest and Best Use Studies) Curriculum No. (106).
   7. (Real Estate Regulation, Urban Planning Principles, Sustainability, and Teamwork) Curriculum No. (107).
   8. (Real Estate Development and Valuation Using Residual Value Method) Curriculum No. (108).
   9. (Land Economics and Real Estate Investment) Curriculum No. (109).
   10. (Application of Accounting, Finance and Tax Principles in Real Estate Valuation) Curriculum No. (110).
   11. (Analysis of Financial Instruments and Real Estate Investment) Curriculum No. (111).
   12. (Advanced Methods in Real Estate Valuation Using Income Approach) Curriculum No. (112).
   13. (Business Valuation Competencies Participant ) Curriculum No. (200).
   14. (Principles of Business Valuation) Curriculum No. (201).
   15. (The Income Approach) Curriculum No. (202).
   16. (Case Study and Valuation Model ) Curriculum No. (203).
   17. (Advanced Topics in Business Valuation ) Curriculum No. (204).
   18. (Valuation of Intangible Assets) Curriculum No. (205).
   19. (Principles In Machinery & Equipment Valuation and Valuation Approaches) Curriculum No. (401).
   20. (General Concept About Machine Shops and Its Valuation Procedures) Curriculum No. (402).
   21. (Regulatory Framework for Vehicle Damage Assessment Profession) Curriculum No. (300).
   22. (Valuation Theory for Gems & Jewelry) Curriculum No. (501).
2. Achieving a score of no less than (70) out of (100) in each written, practical or discussion exam, as applicable. As an exception; the required passing score in the Vehicle Damage Assessment sector shall be no less than (80) out of (100) in each written or practical exam, as the case may be.

1. Registration for courses, exams and discussions is done through the Authority's electronic portal. The applicant undertakes to review the regulation and rules governing the valuation profession, especially the General Rules for the Fellowship Certificate and this Policy, before starting the registration.
2. The registration fees for the levels are as approved by the authorized person, and these fees are paid using the electronic payment methods approved by the Authority.
3. Registration is not allowed for any training course, exam or discussion of a training curriculum or practical application project before passing the previous course curriculum.
4. The applicant may retake the exam or discussion only once in case of failure to meet the passing requirements, after paying the fee, and submitting a request through the Authority’s electronic portal. In case of failure after the retake, the applicant must re-register for the course curriculum from the beginning.

1. The competent department may cancel training courses and exams before the start date of the course by (five) business days, if the number of registrants in the course and exam falls less than the minimum limit approved by it. It also has the right to cancel  at any time in cases of force majure or emergency circumstances. In cases of cancellation as mentioned in this paragraph, the Authority shall not bear any obligations or expenses.
2. The applicant may modify his/her registration for the training courses and written exams to another place or later date if seats are available in the requested course or exam for one time only, without fees if he/she submits his request no later than (five) business days before the start date of the course in which he registered or its exam.
3. The registration fee shall not be refunded for any of:  (training courses / written exams not related to training courses / discussions) except in the following cases:
   1. The full paid fee shall be refunded to the applicant if he/she cancels his/her registration at most (ten) business days before the start date of the training course in which he/she registered or its exam, or before the date of holding the written exam not related to a training course, as th case may be, or in the event that the competent department cancels the course, exam or discussion.
   2. The full paid fee shall be refunded to the applicant if he was absent for an official excuse accepted by the competent administration, provided that it is submitted within a maximum of (fifteen) business days from the start date of the course, exam or discussion.

First: With regard to the provisions of Article (11) of the Rules, the applicant must abide by the following when attending training courses, exams or discussions as determined by the competent administration:

1. Bringing the personal identification card (national ID or residency ID).
2. Following the instructions provided by the supervisor of the training course, exam or discussion.
3. The applicant does not have the right to enter the exam or discussion after half of the time has passed, or leave the exam before half of the time has passed.
4. Bringing the appropriate tools that allow him to take the exam, including calculators, etc., as specified by the supervisor.
5. Not publishing or disclosing course curricula, exam questions or discussions, whether directly or indirectly.

Second: The competent department may audio and video record training courses, exams or discussions, and review and audit the recordings whenever it deems appropriate.

Third: The violator of the instructions contained in this Policy shall be subject to the penalties stipulated in the Rules, including cancellation of the exam or discussion.

When conducting levels or some of them electronically, the applicant must abide by the instructions set by the competent administration, especially the following:

1. Attending the training course or taking the exam or discussion using a high efficiency computer with a camera and audio receiver, which are always on, and the camera is directed towards the face.
2. Attending the training course or taking the exam or discussion him/herself without authorization or assistance from others.
3. Providing a quiet place with no other people present especially: during the exams or discussions time.
4. Adhering to the specified times and dates for training courses, exams and discussions.
5. The applicant my not exit or attempt to exit the browser after starting the exam or discussion under any circumstances.  
6. The applicant may not tamper with the software settings for accessing training courses, exams and discussions.
7. Looking into the camera during the exam or discussion, refraining from excessive movement, talking to others, being talked to by others, reading any question aloud, repeating the question verbally during discussion, operating any sound-emitting devices, using more than one screen, using any prohibited tools, taking any notes for others during the exam or discussion, having any scientific materials, books or papers close by, also refraining from using smart devices in any way, smart watches, earphones or covering the ears by any means, reading from other devices and papers, photographing or attempting to do so, trying to stop the camera from shooting or suspending or obscuring its broadcast, even for brief moments, not showing the full face, moving away from the screen for any reason, or using hands and others in any form of sign language.
8. The application may not use any tools other than a calculator and one sheet of paper to solve mathematical problems, if any, and displaying them to the camera before and after taking the exam or discussion.

1. The results of exams and discussions are monitored within (20) business days from the date of the exam or the discussion, unless the applicant commits a violation of the provisions of the Rules or Policy, in which case the result is monitored after deciding on the violation, provided that the period does not exceed (40) business days in this case.
2. The results of the exams and discussions appear in the applicant's account on the Authority's electronic portal, which indicates that the applicant's has  pass or fail.
3. The applicant has the right to object to the exam or discussion result with the competent department through the Authority's electronic portal within a maximum period of (10) business days from the date of notifying the applicant of the result. The objection is registered after the applicant pays - using the electronic payment methods approved by the Authority - a fee of SAR (500), which is refunded in case the objection proves to be valid. The CEO - or his delegate - decides on the objection within a period not exceeding (20) business days from the date of its submission. This period may be extended with the approval of the CEO based on a justification by the competent department.

1. Based on a decision by the Chief Executive Officer or his delegate, a committee (or more) shall be formed with an odd number of no less than three members to discuss projects for obtaining the Fellowship certification. The decision shall designate the committee chairman.
2. The deliberation committee's meetings shall be held with the attendance of all its members, and its recommendation shall be issued by calculating the average sum of the scores given by the committee members. It shall be approved by a decision from the Chief Executive Officer or his delegate.
3. The deliberation committee may conduct its meetings via electronic means.
4. Re-deliberation committees shall be formed, hold meetings, and issue recommendations in accordance with the provisions and procedures stipulated for the deliberation committees.
5. The deliberation committee shall undertake the following tasks:
   1. Verify that the submitted project meets the professional requirements according to the relevant approved curriculum and fulfills the professional standards adopted by the Authority for each project.
   2. Discuss with the applicant the practical applied project prepared by them and the extent to which it meets the regulation and rules governing the valuation profession, as well as the core and additional competencies for the discussion.
   3. Recommend the acceptance or rejection of the submitted project for obtaining the Authority's Fellowship. Each committee member shall record their observations, views regarding the project under discussion, the discussant's performance, and the score they deem appropriate.
6. The competent department shall undertake the following:
   1. Coordinate and organize the committee's meetings, including the dates and venues.
   Coordinate and organize the affairs of applicants for discussing projects to obtain the Authority's Fellowship, including the discussion dates, notification of results, and receiving any objections to the final results.Collect the committee members' views and observations and attach them to the committee's minutes.Maintain and organize the committee's minutes and issued decisions.
7. The deliberation committee members shall adhere to the regulation and rules governing the valuation profession and the relevant instructions issued by the Authority, particularly the following:
   1. Exercise due professional care, objectivity, and fairness when performing their duties and work within the committee.
   2. Maintain their independence when performing their duties and work, and disclose in writing to the competent department any conflict of interest that may affect their independence before performing any related work or task.
   3. Observe the rights of applicants for the discussion, including courtesy, proper conduct, and good treatment.
   4. Maintain the confidentiality of information they access by virtue of their committee membership.
8. As far as possible, members who participated in the initial deliberation committee shall not participate in the re-deliberation committee.
9. If the competent department establishes any conflict of interest situation that affects the impartiality of a deliberation committee member without the member notifying the competent department, the latter shall prepare a report in this regard and submit its recommendation to the Chief Executive Officer or his delegate within no more than two business days from the date of discovering the situation for a decision.

The Fellowship Certification shall be granted by a decision of the CEO after the applicant fulfills the regulatory conditions and requirements to obtain the certification, based on the recommendation of the competent department after coordinating with the relevant departments of the Authority.

For the purposes of applying paragraph (Second) of Article (7) of the Regulation, an applicant shall be deemed regularly attending if he attends training courses, exams or discussions, as the case may be, without interruption, and no more than (18) months have passed for him in the same level.