CERTIFIED PENNSYLVANIA
EVALUATOR (CPE) FINAL TEST 2026
QUESTIONS WITH CORRECT
ANSWERS GRADED A+
◍ Applicant Age.
Answer: 18 years or older
◍ 1031 Exchange.
Answer: The Internal Revenue Code Section that allows a taxpayer to sell an
investment property and purchase another investment property in its place
without paying capital gains on the proceeds from the sale.Also called
Like-Kind Exchange or Tax-Deferred Exchange
◍ How long do you have to wait to be eligible to retake an examination if you
fail?.
Answer: 30 days
◍ Acceleration Clause.
Answer: A contract clause that gives the lender the right to declare all
outstanding payments immediately due upon default by the borrower
◍ The Commissioner will prescribe the form of the appraiser's license and it
will contain:.
Answer: Name of the appraiserAddress of the appraiser's place of
businessDate of issuance and expiration date of licenseAny other
information which the commissioner determines is necessary
◍ Accountability.
Answer: In an agency relationship, the agent's fiduciary duty to the principal
to strictly account for all monies received.
,◍ Accrued Expense.
Answer: Item on a settlement statement for which the cost has been
incurred, but the expense has not yet been paid.Such expenses are
considered to be paid in arrears.
◍ Experience and Fitness requirements for Licensing.
Answer: -A minimum of six months' continuous experience within the
previous three years at an occupation, such as body repair, that directly
involves the estimation of physical damage to motor vehicles.-Successful
completion of education or training related to appraising motor vehicle
physical damage taken within the previous three years.
◍ An application for a license may be denied for any of the following.
Answer: -The applicant has provided incorrect, misleading or incomplete
answers to interrogatories on forms incidental to applying for a license.-The
applicant has been denied a license or has had an existing license revoked,
suspended or not renewed by the Department or a regulatory authority in
another state, territory, or possession of the United States, or in the District
of Columbia, or the Canadian Provinces.-The applicant does not possess the
professional competence and trustworthiness required to engage in
conducting motor vehicle appraisals.-An applicant has been found guilty of
a felony or of criminal conduct which relates to the applicant's suitability to
conduct motor vehicle appraisals.
◍ An applicant has been found guilty of a felony or of criminal conduct which
relates to the applicant's suitability to conduct motor vehicle appraisals..
Answer: ex: unlawful practices, embezzlement, obtaining money under false
pretenses, conspiracy to defraud, bribery, or corrupt influence, perjury or
false swearing, unlicensed activity or criminal offence involving moral
turpitude or harm to another. -Examples of violations or incidents which the
Department will not consider related to the applicant's suitability to engage
in the business of an appraiser are all summary offenses, records of arrests if
there is no conviction of a crime based on the arrest, convictions which have
been annulled or expunged or convictions for which the applicant has
, received a pardon from the Governor.
◍ The Commissioner may deny initial issuance of, suspend, revoke, or refuse
to renew any appraiser's license for any cause specified in any other
provision of this act, or for any of the following causes:.
Answer: 1. For any cause for which issuance of the license could have been
refused had it been existent and been known to the Commissioner.2. If the
licensee willfully violates or fails to comply with or knowingly participates
in the violation of or failure to comply with any provision of this act or any
rule or regulation promulgated there under.3. If the licensee has obtained or
attempted to obtain any such license through willful misrepresentation or
fraud, or has failed to pass any examination required under this act.4. If the
licensee has, with intent, to deceive, materially misrepresented the terms or
effect of any insurance contact; or has engaged or is about to engage in any
fraudulent transaction.5. If the licensee has been convicted, by final
judgement, of a felony.6. If in the conduct of his affairs under the license,
the licensee has shown himself to be, and is so deemed by the
Commissioner, incompetent, or untrustworthy, or a source of injury and loss
to the public.
◍ Ad Valorem.
Answer: A Latin phrase meaning "according to value"; used to refer to taxes
assessed on the value of the property.
◍ How often should you carry your appraisal license?.
Answer: Each appraiser, while engage in appraisal duties, must carry the
license issued to him by the Insurance Department and display it, upon
request, to an owner whose vehicle is being inspected, to the repair shop
representative involved, or to any authorized representative of the insurance
department.
◍ ADA (Americans with Disabilities Act).
Answer: A wide-ranging federal civil rights law, signed in 1990, requiring
all public and commercial facilities to make reasonable accommodations to
render the property accessible to persons with disabilities. It prohibits, under
, certain circumstances, discrimination based on disability.
◍ Adjustable Rate Mortgage (ARM).
Answer: A type of loan structure that permits the lender to periodically
change or vary the interest rate charged, based on a standard index.
◍ Advertisement.
Answer: Any public notification in any media of property being offered for
sale or rent or marketing brokerage services being marketed, and thus must
follow guidelines of federal, state, and local fair housing laws.
◍ Affiliated Business Arrangement (AfBA).
Answer: A person in a position to refer settlement services- or an associate-
has either an affiliate relationship with or a direct beneficial ownership
interest of more than 1% in a provider of settlement services and who then
refers business to that provider or in some way influences the selection of
that provider.
◍ Affiliated Licensee.
Answer: Individuals licensed as salespersons or associated brokers who are
employed by the same broker.
◍ What should an appraiser leave with the shop?.
Answer: -The appraiser must leave a legible copy of his appraisal with that f
the repair shop selected by the consumer to make the repairs and also
furnish a copy to the owner of the vehicle.
◍ Agency Coupled with an Interest.
Answer: A situation in which the agent has a personal interest in the subject
of the agency, as when one co-owner has been authorized by the others to
sell their property.
◍ What if there is prior damage to the vehicle?.
Answer: Should be clearly indicated on the appraisal.
◍ What should be on the appraisal?.
Answer: Itemized listing of all damages, specifying those parts to be
EVALUATOR (CPE) FINAL TEST 2026
QUESTIONS WITH CORRECT
ANSWERS GRADED A+
◍ Applicant Age.
Answer: 18 years or older
◍ 1031 Exchange.
Answer: The Internal Revenue Code Section that allows a taxpayer to sell an
investment property and purchase another investment property in its place
without paying capital gains on the proceeds from the sale.Also called
Like-Kind Exchange or Tax-Deferred Exchange
◍ How long do you have to wait to be eligible to retake an examination if you
fail?.
Answer: 30 days
◍ Acceleration Clause.
Answer: A contract clause that gives the lender the right to declare all
outstanding payments immediately due upon default by the borrower
◍ The Commissioner will prescribe the form of the appraiser's license and it
will contain:.
Answer: Name of the appraiserAddress of the appraiser's place of
businessDate of issuance and expiration date of licenseAny other
information which the commissioner determines is necessary
◍ Accountability.
Answer: In an agency relationship, the agent's fiduciary duty to the principal
to strictly account for all monies received.
,◍ Accrued Expense.
Answer: Item on a settlement statement for which the cost has been
incurred, but the expense has not yet been paid.Such expenses are
considered to be paid in arrears.
◍ Experience and Fitness requirements for Licensing.
Answer: -A minimum of six months' continuous experience within the
previous three years at an occupation, such as body repair, that directly
involves the estimation of physical damage to motor vehicles.-Successful
completion of education or training related to appraising motor vehicle
physical damage taken within the previous three years.
◍ An application for a license may be denied for any of the following.
Answer: -The applicant has provided incorrect, misleading or incomplete
answers to interrogatories on forms incidental to applying for a license.-The
applicant has been denied a license or has had an existing license revoked,
suspended or not renewed by the Department or a regulatory authority in
another state, territory, or possession of the United States, or in the District
of Columbia, or the Canadian Provinces.-The applicant does not possess the
professional competence and trustworthiness required to engage in
conducting motor vehicle appraisals.-An applicant has been found guilty of
a felony or of criminal conduct which relates to the applicant's suitability to
conduct motor vehicle appraisals.
◍ An applicant has been found guilty of a felony or of criminal conduct which
relates to the applicant's suitability to conduct motor vehicle appraisals..
Answer: ex: unlawful practices, embezzlement, obtaining money under false
pretenses, conspiracy to defraud, bribery, or corrupt influence, perjury or
false swearing, unlicensed activity or criminal offence involving moral
turpitude or harm to another. -Examples of violations or incidents which the
Department will not consider related to the applicant's suitability to engage
in the business of an appraiser are all summary offenses, records of arrests if
there is no conviction of a crime based on the arrest, convictions which have
been annulled or expunged or convictions for which the applicant has
, received a pardon from the Governor.
◍ The Commissioner may deny initial issuance of, suspend, revoke, or refuse
to renew any appraiser's license for any cause specified in any other
provision of this act, or for any of the following causes:.
Answer: 1. For any cause for which issuance of the license could have been
refused had it been existent and been known to the Commissioner.2. If the
licensee willfully violates or fails to comply with or knowingly participates
in the violation of or failure to comply with any provision of this act or any
rule or regulation promulgated there under.3. If the licensee has obtained or
attempted to obtain any such license through willful misrepresentation or
fraud, or has failed to pass any examination required under this act.4. If the
licensee has, with intent, to deceive, materially misrepresented the terms or
effect of any insurance contact; or has engaged or is about to engage in any
fraudulent transaction.5. If the licensee has been convicted, by final
judgement, of a felony.6. If in the conduct of his affairs under the license,
the licensee has shown himself to be, and is so deemed by the
Commissioner, incompetent, or untrustworthy, or a source of injury and loss
to the public.
◍ Ad Valorem.
Answer: A Latin phrase meaning "according to value"; used to refer to taxes
assessed on the value of the property.
◍ How often should you carry your appraisal license?.
Answer: Each appraiser, while engage in appraisal duties, must carry the
license issued to him by the Insurance Department and display it, upon
request, to an owner whose vehicle is being inspected, to the repair shop
representative involved, or to any authorized representative of the insurance
department.
◍ ADA (Americans with Disabilities Act).
Answer: A wide-ranging federal civil rights law, signed in 1990, requiring
all public and commercial facilities to make reasonable accommodations to
render the property accessible to persons with disabilities. It prohibits, under
, certain circumstances, discrimination based on disability.
◍ Adjustable Rate Mortgage (ARM).
Answer: A type of loan structure that permits the lender to periodically
change or vary the interest rate charged, based on a standard index.
◍ Advertisement.
Answer: Any public notification in any media of property being offered for
sale or rent or marketing brokerage services being marketed, and thus must
follow guidelines of federal, state, and local fair housing laws.
◍ Affiliated Business Arrangement (AfBA).
Answer: A person in a position to refer settlement services- or an associate-
has either an affiliate relationship with or a direct beneficial ownership
interest of more than 1% in a provider of settlement services and who then
refers business to that provider or in some way influences the selection of
that provider.
◍ Affiliated Licensee.
Answer: Individuals licensed as salespersons or associated brokers who are
employed by the same broker.
◍ What should an appraiser leave with the shop?.
Answer: -The appraiser must leave a legible copy of his appraisal with that f
the repair shop selected by the consumer to make the repairs and also
furnish a copy to the owner of the vehicle.
◍ Agency Coupled with an Interest.
Answer: A situation in which the agent has a personal interest in the subject
of the agency, as when one co-owner has been authorized by the others to
sell their property.
◍ What if there is prior damage to the vehicle?.
Answer: Should be clearly indicated on the appraisal.
◍ What should be on the appraisal?.
Answer: Itemized listing of all damages, specifying those parts to be
