Page |1
Basic Appraisal Procedures Exam
Questions and Correct Answers/ Latest
Update / Already Graded
"The estimated cost to construct, at current prices as of the effective
appraisal date, an exact duplicate or replica of the building being
appraised, using the same materials..." is the definition of
_______________ cost.
Ans: reproduction
Footings need to be _______________ below average frost penetration
levels.
Ans: at least 12 inches
GRMs are derived by dividing the __________ by the property's
___________ at the time of sale.
Ans: sale price, gross monthly unfurnished market rent
The Fannie Mae Single Family Comparable Rent Schedule is
designated as Form
Ans: 1007
All rights reserved © 2025/ 2026 |
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"A condition, directly related to a specific assignment, which is
contrary to what is known by the appraiser to exist on the effective
date of the assignment results, but is used for the purpose of analysis"
is the definition of
Ans: hypothetical condition
What type of framing became popular in the 1800s with the advent of
the steam-powered sawmill?
Ans: balloon frame
When estimating the amount of adjustments for differences among
properties, the most important principle is the principle of
_______________.
Ans: contribution
A _______________ home has a permanent steel chassis, wheels and
axles.
Ans: manufactured
An expansion tank is part of a ___________ heating system.
Ans: hot water
All rights reserved © 2025/ 2026 |
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When describing roofing shingles, a "square" contains __________
square feet.
Ans: 100
The most commonly used approach for valuing sites is the
____________ approach.
Ans: sales comparison
J-bolts are used to anchor the _________ to the __________.
Ans: sill plate, foundation
"The amount and type of information researched and the analysis
applied in an assignment" is the definition of
Ans: scope of work
GLA includes _______________ but not _______________.
Ans: above grade finished area, garages
All rights reserved © 2025/ 2026 |
Basic Appraisal Procedures Exam
Questions and Correct Answers/ Latest
Update / Already Graded
"The estimated cost to construct, at current prices as of the effective
appraisal date, an exact duplicate or replica of the building being
appraised, using the same materials..." is the definition of
_______________ cost.
Ans: reproduction
Footings need to be _______________ below average frost penetration
levels.
Ans: at least 12 inches
GRMs are derived by dividing the __________ by the property's
___________ at the time of sale.
Ans: sale price, gross monthly unfurnished market rent
The Fannie Mae Single Family Comparable Rent Schedule is
designated as Form
Ans: 1007
All rights reserved © 2025/ 2026 |
, Page |2
"A condition, directly related to a specific assignment, which is
contrary to what is known by the appraiser to exist on the effective
date of the assignment results, but is used for the purpose of analysis"
is the definition of
Ans: hypothetical condition
What type of framing became popular in the 1800s with the advent of
the steam-powered sawmill?
Ans: balloon frame
When estimating the amount of adjustments for differences among
properties, the most important principle is the principle of
_______________.
Ans: contribution
A _______________ home has a permanent steel chassis, wheels and
axles.
Ans: manufactured
An expansion tank is part of a ___________ heating system.
Ans: hot water
All rights reserved © 2025/ 2026 |
, Page |3
When describing roofing shingles, a "square" contains __________
square feet.
Ans: 100
The most commonly used approach for valuing sites is the
____________ approach.
Ans: sales comparison
J-bolts are used to anchor the _________ to the __________.
Ans: sill plate, foundation
"The amount and type of information researched and the analysis
applied in an assignment" is the definition of
Ans: scope of work
GLA includes _______________ but not _______________.
Ans: above grade finished area, garages
All rights reserved © 2025/ 2026 |
