CRAA® Explanation Statement for Form ADV Part 2B

When completing Item 2 of the U.S. Securities and Exchange Commission's Form ADV Part 2B (“Educational Background and Business Experience”), individuals can list any professional credentials and certifications held. If you choose to reference your CRAA® (Certified Real Assets Analyst™) certification, it is essential to include a brief description of the minimum qualifications required for this designation. This explanation helps clients and potential clients understand the value and rigor behind the certification. For your convenience, RPII offers sample language you can utilize to satisfy this requirement.

Form ADV Part 2B

CERTIFIED REAL ASSETS ANALYST™ (CRAA®) Certificant

The Certified Real Assets Analyst™ (CRAA®) designation is awarded by the Real Property and Infrastructure Institute (RPII), a non-profit association of professionals in the real assets sector. The CRAA® certification is a voluntary credential that is not mandated by any federal or state laws, rules, or regulations. It is designed to recognize professionals who have demonstrated competency in areas related to income-producing real assets, including real estate, infrastructure, timberland, and agriculture across both public and private markets.

CRAA® Certification Requirements

Individuals who hold the CRAA® certification have met the following criteria established by RPII:

Education Requirement

Candidates must demonstrate educational experience through one or both of the following:

  • Hold a bachelor’s degree (or equivalent) from an accredited institution, or
  • Accumulate at least 6,000 hours of qualifying work experience related to the real assets profession.

Experience Requirement

Candidates must have completed a minimum of 4,000 hours of qualifying work experience over at least three (3) years in the real assets sector.

Examination Requirement

Candidates must pass the CRAA® Examination, which is a six-hour exam designed to assess their ability to apply a comprehensive range of real assets knowledge in practical, real-world situations.

Ethics Requirement

Candidates are required to demonstrate good moral character and complete an Ethics Declaration, committing to uphold the RPII Code and Principles of Professional Conduct.

Ongoing Certification and Continuing Education Requirements

To maintain the CRAA® certification and retain the right to use the CRAA® Certification Marks, CRAA® certificant must meet the following annual requirements:

  • Complete 26 hours of Continuing Education (CE), including 2 hours dedicated to ethics.
  • Submit a Renewal Ethics Declaration, affirming ongoing adherence to the RPII Code and Principles of Professional Conduct.

Code and Principles of Professional Conduct

All CRAA® to the requirements and policies of the CRAA® Certification Program, including the Code and Principles of Professional Conduct. RPII may even sanction a CRAA® certificants are bound by the RPII Code of Professional Conduct, which emphasizes the following professional standards:

  • Maintaining independence and objectivity
  • Acting with integrity in professional conduct
  • Maintaining and enhancing professional competence
  • Respecting the confidentiality and privacy of client information
  • Disclosing any conflicts of interest and relevant legal issues

The CRAA® Certification Program is underpinned by a practitioner-oriented curriculum that provides a comprehensive framework of knowledge and skills tailored toward real-world application. Accordingly, the CRAA® Exam is designed to test a candidate's ability to apply critical concepts rather than mere knowledge recall. The CRAA® Program assesses a candidate's proficiency in a wide range of fundamental theory and advanced real assets topics, including professional standards, financial and investment analysis, portfolio management, and valuation. The CRAA® Program curriculum is frequently updated to reflect the dynamic evolution of the built and natural environments and the needs of employers, investors, and the broader public.

For further details about the CRAA® Program, please visit www.rpii.org.