Certified Pennsylvania Evaluator Exam
(CPE) 2025/2026 Exam Questions with
100% Correct Answers | Latest Update
The most probable price which a property should bring in a competitive and
open market under all conditions requisite to a fair sale, the buyer and
seller each acting prudently and knowledgeably, and assuming the price is
not affected by undue stimulus. Implicit in this definition is the
consummation of a sale as of a specified date and the passing of title from
seller to buyer whereby:
1. Buyer and seller are typically motivated
2. Both parties are well informed or well advised, and asking in what thy
consider their best interests
3. A reasonable time is allowed for exposure in the open market
4. Payment is made in terms of cash in United States dollars or in terms of
financial arrangements comparable thereto
,5. The price represents the normal consideration for the property sold
unaffected by special or creative financing or sales concessions granted by
anyone associated with the sale. - 🧠 ANSWER ✔✔Market Value
The actual amount paid, or to be paid, for a property in a particular
transaction - 🧠 ANSWER ✔✔Market Price
A written document under seal conveying real estate. Types: Warranty and
Quit Claim - 🧠 ANSWER ✔✔Deed
A deed in which the grantor warrants the title to be good and accurate and
agrees to defend the title against all parties.
When a true owner of record transfers the ownership.
This is guaranteed.
1. Grantor has the right to convey the real estate
2. grantor is the owner of the real estate mentioned
3. That the land is free and clear of all encumbrances, liens, bargains,
sales, taxes
4. That the grantee will have quiet enjoyment of the real estate and not be
pout out by someone with a superior title
,5. That the grantee has legal recourse against the grantor should there be
any problem with the title. - 🧠 ANSWER ✔✔Warranty Deed
The deed by which the grantor conveys only the interest he or she may
have in the property - 🧠 ANSWER ✔✔Quit Claim Deed
The greatest degree of ownership. It is title free and clear of all liens &
encumbrances. ...No taxes, no loans. Owner owns the bundle of rights - 🧠
ANSWER ✔✔Fee Simple Title
Latin for "according to value". - 🧠 ANSWER ✔✔Ad Valorem
Taxes are levied according to the value of the property - 🧠 ANSWER ✔✔Ad
Valorem Taxation
The year upon which real property values are based for the most recent
countywide reassessment or other prior year for which the market value of
all real estate of the county is based. - 🧠 ANSWER ✔✔Base Year
Can be seen and touched. Consists of actual physical things. - 🧠 ANSWER
✔✔Tangible Property
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
PRIVACY STATEMENT. ALL RIGHTS RESERVED
, Cannot be seen or touched; it is evidence of ownership rights. Examples:
stocks, bonds, mortgages and copy rights...rights you have as a owner. - 🧠
ANSWER ✔✔Intangible Property
Can be tangible or intangible, and can be real or personal - 🧠 ANSWER
✔✔Property
Property that is tangible; it can be moved by its owner.
Chattel or fixture - 🧠 ANSWER ✔✔Personal Property
Personal property not permanently affixed to land - 🧠 ANSWER ✔✔Chattel
personal property is permanently affixed to the land - 🧠 ANSWER
✔✔Fixture
S- Sell
L- Lease
U-Use
G-Give away
E-Enter/leave
R-Refuse to do anything - 🧠 ANSWER ✔✔Bundle of Rights
(CPE) 2025/2026 Exam Questions with
100% Correct Answers | Latest Update
The most probable price which a property should bring in a competitive and
open market under all conditions requisite to a fair sale, the buyer and
seller each acting prudently and knowledgeably, and assuming the price is
not affected by undue stimulus. Implicit in this definition is the
consummation of a sale as of a specified date and the passing of title from
seller to buyer whereby:
1. Buyer and seller are typically motivated
2. Both parties are well informed or well advised, and asking in what thy
consider their best interests
3. A reasonable time is allowed for exposure in the open market
4. Payment is made in terms of cash in United States dollars or in terms of
financial arrangements comparable thereto
,5. The price represents the normal consideration for the property sold
unaffected by special or creative financing or sales concessions granted by
anyone associated with the sale. - 🧠 ANSWER ✔✔Market Value
The actual amount paid, or to be paid, for a property in a particular
transaction - 🧠 ANSWER ✔✔Market Price
A written document under seal conveying real estate. Types: Warranty and
Quit Claim - 🧠 ANSWER ✔✔Deed
A deed in which the grantor warrants the title to be good and accurate and
agrees to defend the title against all parties.
When a true owner of record transfers the ownership.
This is guaranteed.
1. Grantor has the right to convey the real estate
2. grantor is the owner of the real estate mentioned
3. That the land is free and clear of all encumbrances, liens, bargains,
sales, taxes
4. That the grantee will have quiet enjoyment of the real estate and not be
pout out by someone with a superior title
,5. That the grantee has legal recourse against the grantor should there be
any problem with the title. - 🧠 ANSWER ✔✔Warranty Deed
The deed by which the grantor conveys only the interest he or she may
have in the property - 🧠 ANSWER ✔✔Quit Claim Deed
The greatest degree of ownership. It is title free and clear of all liens &
encumbrances. ...No taxes, no loans. Owner owns the bundle of rights - 🧠
ANSWER ✔✔Fee Simple Title
Latin for "according to value". - 🧠 ANSWER ✔✔Ad Valorem
Taxes are levied according to the value of the property - 🧠 ANSWER ✔✔Ad
Valorem Taxation
The year upon which real property values are based for the most recent
countywide reassessment or other prior year for which the market value of
all real estate of the county is based. - 🧠 ANSWER ✔✔Base Year
Can be seen and touched. Consists of actual physical things. - 🧠 ANSWER
✔✔Tangible Property
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
PRIVACY STATEMENT. ALL RIGHTS RESERVED
, Cannot be seen or touched; it is evidence of ownership rights. Examples:
stocks, bonds, mortgages and copy rights...rights you have as a owner. - 🧠
ANSWER ✔✔Intangible Property
Can be tangible or intangible, and can be real or personal - 🧠 ANSWER
✔✔Property
Property that is tangible; it can be moved by its owner.
Chattel or fixture - 🧠 ANSWER ✔✔Personal Property
Personal property not permanently affixed to land - 🧠 ANSWER ✔✔Chattel
personal property is permanently affixed to the land - 🧠 ANSWER
✔✔Fixture
S- Sell
L- Lease
U-Use
G-Give away
E-Enter/leave
R-Refuse to do anything - 🧠 ANSWER ✔✔Bundle of Rights
