Appraisal Exam Prep Exam Results Example


Our appraisal exam prep course provides detailed feedback on the questions that you miss. Spend less time reviewing what you know, and focus on the topics where the review is most useful.

Question Answers
Question:  Standard Rule 1 provides the appraiser with tools to:
Study Hint: 
  1. compose a consulting assignment
CORRECT ANSWER   2. prepare a real property appraisal assignment
  3. prepare a review report on another appraiser's work
YOUR ANSWER  4. communicate the appraisal report
Question:  Which of the following is NOT an element of comparison?
Study Hint:  
  1. Location differences
YOUR ANSWER  2. Physical characteristics
  3. Special financing terms
CORRECT ANSWER   4. Sales price of subject property

Statistics for Final Exams

Our final exams closely match your state licensing exam, and provide a statistical results breakdown.

Overall Exam Score: 85%

Category Pass
Rate
Questions
Given
Correct
Answers
Influences on Real Estate Value 100% 8 8
Physical and Environmental   3 3
Economic   1 1
Governmental   2 2
Social   2 2
Legal Considerations in Appraisal 75% 8 6
Real Estate vs Real Property   2 2
Real Property vs Personal Property   2 1
Limitations on real estate ownership   0 0
Legal Rights and Interests   1 1
Forms of Property Ownership   1 1
Legal Descriptions   1 0
Transfer of Title   1 1
Types of Value 50% 8 4
Market value or value in exchange   1 1
Price   1 1
Cost   1 0
Investment value   1 0
Value in use   0 0
Assessed Value   3 2
Insurable Value   1 0
Economic Principles 100% 8 8
Anticipation   0 0
Balance   1 1
Change   1 1
Competition   0 0
Conformity   2 2
Contribution   1 1
Increasing and decreasing returns   1 1
Substitution   1 1
Supply and demand   1 1
Surplus productivity   0 0
Real Estate Markets and Analysis 66% 6 4
Characteristics of real estate markets   2 2
Absorption analysis   2 2
Role of money and capital markets   1 0
Real estate financing   1 0
Property Description 100% 16 16
Site description   6 6
Improvement description   6 6
Basic construction and design   4 4
Highest and Best Use Analysis 77% 13 10
Four tests   4 3
Vacant site or as if vacant   4 3
As improved   3 2
Interim use   2 2
Appraisal Statistical Concepts 20% 5 1
Mean   2 0
Median   1 0
Mode   1 0
Range   0 0
Standard Deviation   1 1
Sales Comparison Approach 91% 22 20
Research and selection of comparables   5
Elements of comparison   5 5
Adjustment process   7 6
Application of sales comparison approach   5 5
Site Value 100% 8 8
Sales Comparison   2 2
Land Residual   2 2
Allocation   2 2
Extraction   1 1
Plottage and assemblage   1 1
Cost Approach 100% 13 13
Steps in cost approach   8 8
Application of the cost approach   5 5
Income Approach 80% 10 8
Estimation of income and expenses   6 5
Operating expense ratios   4 3
Valuation of Partial Interests 100% 1 1
Partial Interests   1 1
Interests created by a lease   0 0
Appraisal Standards and Ethics 83% 24 20
Appraisal Standards and Ethics   24 20


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