Focus Your Learning
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.
Answers in Red are correct. Be sure to click the Study Hint buttons!
| Question | Answers | Student Answer |
|---|---|---|
| Question: Standard Rule 1 provides the appraiser with tools to: |
|
compose a consulting assignment |
| Question: Which of the following is NOT an element of comparison? |
|
Special financing terms |
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 |