Minnesota Real Estate Appraisal Review
Certification Exam Practice Questions
And Correct Answers (Verified Answers)
Plus Rationales 2026 Q&A | Instant
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1. What is the primary purpose of an appraisal review?
A. To replace the original appraisal
B. To verify the validity and credibility of an appraisal report
C. To determine property taxes
D. To set listing prices
Correct Answer: B
Rationale: An appraisal review is conducted to evaluate the reliability,
compliance, and credibility of an existing appraisal report, not to create a
new valuation or replace it.
2. Which standard governs appraisal reviews in the United States?
A. GAAP
, B. USPAP
C. FIRREA only
D. IRS Code
Correct Answer: B
Rationale: USPAP (Uniform Standards of Professional Appraisal Practice)
provides the ethical and performance standards for appraisal and
appraisal review assignments.
3. A "field review" appraisal review typically includes:
A. Office-only document review
B. Physical inspection of the subject property
C. Tax reassessment
D. Legal title verification only
Correct Answer: B
Rationale: A field review often involves inspecting the subject property and
comparable data to validate the original appraisal conclusions.
4. The main focus of an appraisal review is:
A. Marketing the property
B. Critiquing the appraisal report’s quality and compliance
C. Negotiating sales contracts
D. Inspecting building permits
,Correct Answer: B
Rationale: The core purpose is to assess whether the appraisal is credible,
compliant, and properly supported.
5. Which of the following is NOT typically evaluated in an appraisal
review?
A. Data accuracy
B. Methodology used
C. Color of the property exterior
D. Market analysis
Correct Answer: C
Rationale: Physical aesthetic features like color are irrelevant unless they
affect value analysis.
6. What is a desk review?
A. Review conducted onsite
B. Review without property inspection
C. Government audit
D. Construction inspection
Correct Answer: B
Rationale: A desk review is performed using documents only, without
inspecting the property.
, 7. USPAP requires an appraiser performing a review to:
A. Ignore the original appraiser's work
B. Be impartial, objective, and independent
C. Advocate for the client’s desired value
D. Inflate property values
Correct Answer: B
Rationale: USPAP emphasizes impartiality and independence in all
appraisal review assignments.
8. An appraisal review assignment may result in:
A. A new appraisal value conclusion
B. A recommendation of acceptance or rejection
C. A legal ownership transfer
D. A mortgage approval automatically
Correct Answer: B
Rationale: Reviewers may conclude whether the appraisal is acceptable,
unacceptable, or needs correction.
9. What is the role of comparable sales in appraisal review?
A. To decorate the report
B. To verify market support for value conclusions
Certification Exam Practice Questions
And Correct Answers (Verified Answers)
Plus Rationales 2026 Q&A | Instant
Download Pdf
1. What is the primary purpose of an appraisal review?
A. To replace the original appraisal
B. To verify the validity and credibility of an appraisal report
C. To determine property taxes
D. To set listing prices
Correct Answer: B
Rationale: An appraisal review is conducted to evaluate the reliability,
compliance, and credibility of an existing appraisal report, not to create a
new valuation or replace it.
2. Which standard governs appraisal reviews in the United States?
A. GAAP
, B. USPAP
C. FIRREA only
D. IRS Code
Correct Answer: B
Rationale: USPAP (Uniform Standards of Professional Appraisal Practice)
provides the ethical and performance standards for appraisal and
appraisal review assignments.
3. A "field review" appraisal review typically includes:
A. Office-only document review
B. Physical inspection of the subject property
C. Tax reassessment
D. Legal title verification only
Correct Answer: B
Rationale: A field review often involves inspecting the subject property and
comparable data to validate the original appraisal conclusions.
4. The main focus of an appraisal review is:
A. Marketing the property
B. Critiquing the appraisal report’s quality and compliance
C. Negotiating sales contracts
D. Inspecting building permits
,Correct Answer: B
Rationale: The core purpose is to assess whether the appraisal is credible,
compliant, and properly supported.
5. Which of the following is NOT typically evaluated in an appraisal
review?
A. Data accuracy
B. Methodology used
C. Color of the property exterior
D. Market analysis
Correct Answer: C
Rationale: Physical aesthetic features like color are irrelevant unless they
affect value analysis.
6. What is a desk review?
A. Review conducted onsite
B. Review without property inspection
C. Government audit
D. Construction inspection
Correct Answer: B
Rationale: A desk review is performed using documents only, without
inspecting the property.
, 7. USPAP requires an appraiser performing a review to:
A. Ignore the original appraiser's work
B. Be impartial, objective, and independent
C. Advocate for the client’s desired value
D. Inflate property values
Correct Answer: B
Rationale: USPAP emphasizes impartiality and independence in all
appraisal review assignments.
8. An appraisal review assignment may result in:
A. A new appraisal value conclusion
B. A recommendation of acceptance or rejection
C. A legal ownership transfer
D. A mortgage approval automatically
Correct Answer: B
Rationale: Reviewers may conclude whether the appraisal is acceptable,
unacceptable, or needs correction.
9. What is the role of comparable sales in appraisal review?
A. To decorate the report
B. To verify market support for value conclusions
