RESIDENTIAL SALES EXAMINATION TEST 2026/2027
QUESTIONS AND SOLUTIONS GUARANTEE A+
✔✔Usa.gov - ✔✔A web site that is a portal to over 200 federal agencies is
✔✔Sales agents - ✔✔MLS information is compiled for the convenience and use of
✔✔10 - ✔✔There are ______ basic elements of comparison in the Sales Comparison
Approach.
✔✔Want to move up to a larger home - ✔✔The "normal course of business" in an area
is determined by:
Both actions of appraiser's peers and expectations of intended users
Which of these is LEAST LIKELY to be considered an atypical motivation to buy or sell?
✔✔Market area - ✔✔Which can be the largest?
✔✔Both actions of an appraiser's peers and the expectations of intended users -
✔✔The "normal course of business" in an area is determined by
✔✔Market area - ✔✔"The geographic region from which a majority of demand comes
and in which the majority of competition is located. Depending on the market, a market
area may be further subdivided into components such as primary, secondary, and
tertiary market areas, or the competitive market area may be distinguished from the
general market area" is the definition of:
✔✔Mortgage loans - ✔✔Attorneys may need appraisals for all the following reasons
EXCEPT
✔✔Environmental - ✔✔Climate and convenience to shopping would be categorized as
___________ factors.
✔✔Chamber of commerce - ✔✔Which of the following would NOT typically be a source
of specific data?
✔✔Non-confidential - ✔✔You may exchange __________ information with other
appraisers.
✔✔Neighborhood - ✔✔"A group of complementary land uses; a congruous grouping of
inhabitants, buildings, or business enterprises" is the definition of
✔✔Cannot be given a numerical value - ✔✔Qualitative analysis is used for elements
that
,✔✔Comparative analysis - ✔✔The process by which a value indication is derived in the
Sales Comparison Approach is called
✔✔Separately or together - ✔✔Comparative analysis may employ quantitative analysis
and qualitative analysis
✔✔Trend - ✔✔"A quantitative technique used to identify and measure trends in the sale
prices of comparable properties; useful when sales data on highly comparable
properties is lacking, but a broad database on properties with less similar characteristics
is available. Market sensitivity is investigated by testing various factors that influence
sale prices" is the definition of ___________ analysis.
✔✔5.2% - ✔✔A property sold for $250,000 and then sold later in the same year for
$237,000. What was its percentage of decline?
✔✔Paired data analysis - ✔✔An analysis technique in which nearly identical properties
are analyzed to isolate a single characteristic's effect on value or rent is called
✔✔Graphic Analysis - ✔✔Which of the following is NOT a form of qualitative analysis?
✔✔Relative comparison - ✔✔The procedure in which we employ just plusses and
minuses in sales comparison is called ______________ analysis.
✔✔Qualitative - ✔✔"The process of accounting for differences (such as between
comparable properties and the subject property) that are not quantified; may be
combined with quantitative analysis" is the definition of ____________ techniques.
✔✔Paired data analysis - ✔✔An analysis technique in which nearly identical properties
are analyzed to isolate a single characteristic's effect on value or rent is called
✔✔Handle the difference through qualitative analysis - ✔✔An appraiser identifies a
value-related difference between the subject property and a comparable property in
terms of remodeling, however the appraiser is unable to extract a specific dollar
adjustment. What is the BEST course of action for the appraiser?
✔✔Graphic analysis - ✔✔Which of the following is NOT a form of qualitative analysis?
✔✔1.5% - ✔✔A property sold for $225,000 and then sold 6 months later for $245,000.
What was its average percentage of increase per month?
✔✔Either dividing by a rate or multiplying by a multiplier - ✔✔A rent loss can be
capitalized by
, ✔✔$5,000 - ✔✔A 1,900 square-foot home with a double garage sold for $210,000. A
home very similar except it had 2,000 square feet of living area and only a single
garage, recently sold for $208,000. It has been determined that the indicated
adjustment for square feet of living area is $30.00 per square foot. Which is the
indicated adjustment for the difference in garages?
✔✔Comparative analysis - ✔✔What is the name of the process by which a value
indication is derived in the Sales Comparison Approach?
✔✔Cost Analysis - ✔✔"In the Sales Comparison Approach, a quantitative adjustment
technique in which adjustments are based on cost indicators, such as depreciated
building cost, cost to cure, or permit fees" is the definition of
✔✔Real Property Rights Appraised - ✔✔In traditional appraisal theory, the first step in
the adjustment sequence is an adjustment for
✔✔Fee simple estate - ✔✔"Absolute ownership unencumbered by any other interest or
estate, subject only to the limitations imposed by the governmental powers of taxation,
eminent domain, police power, and escheat" is the definition of
✔✔partial interest - ✔✔"Divided or undivided rights in real estate that represent less
than the whole, i.e., a fractional interest such as a tenancy in common, easement, or life
interest" is the definition of
✔✔leased fee estate - ✔✔When appraising a 4-unit property and at least one unit is
leased, the property rights would be
✔✔affirmative easement - ✔✔"The right to perform a specific act on a property owned
by another" is the definition of
✔✔easement in gross - ✔✔"An easement that benefits a legal person or entity
(individual, corporation, partnership, LLC, government entity, etc.) and not a particular
tract of land; an easement having a servient estate but no dominant estate" is the
definition of a(an)
✔✔encroachment - ✔✔"Trespassing on the domain of another" is the definition of
✔✔condominium - ✔✔"A multiunit structure, or a unit within such a structure, with a
condominium form of ownership" is the definition of a
✔✔fee - ✔✔The most desirable form of timesharing is called ___________ timesharing.
✔✔joint tenancy and tenancy by survivorship - ✔✔Which ownerships include a right of
survivorship?
QUESTIONS AND SOLUTIONS GUARANTEE A+
✔✔Usa.gov - ✔✔A web site that is a portal to over 200 federal agencies is
✔✔Sales agents - ✔✔MLS information is compiled for the convenience and use of
✔✔10 - ✔✔There are ______ basic elements of comparison in the Sales Comparison
Approach.
✔✔Want to move up to a larger home - ✔✔The "normal course of business" in an area
is determined by:
Both actions of appraiser's peers and expectations of intended users
Which of these is LEAST LIKELY to be considered an atypical motivation to buy or sell?
✔✔Market area - ✔✔Which can be the largest?
✔✔Both actions of an appraiser's peers and the expectations of intended users -
✔✔The "normal course of business" in an area is determined by
✔✔Market area - ✔✔"The geographic region from which a majority of demand comes
and in which the majority of competition is located. Depending on the market, a market
area may be further subdivided into components such as primary, secondary, and
tertiary market areas, or the competitive market area may be distinguished from the
general market area" is the definition of:
✔✔Mortgage loans - ✔✔Attorneys may need appraisals for all the following reasons
EXCEPT
✔✔Environmental - ✔✔Climate and convenience to shopping would be categorized as
___________ factors.
✔✔Chamber of commerce - ✔✔Which of the following would NOT typically be a source
of specific data?
✔✔Non-confidential - ✔✔You may exchange __________ information with other
appraisers.
✔✔Neighborhood - ✔✔"A group of complementary land uses; a congruous grouping of
inhabitants, buildings, or business enterprises" is the definition of
✔✔Cannot be given a numerical value - ✔✔Qualitative analysis is used for elements
that
,✔✔Comparative analysis - ✔✔The process by which a value indication is derived in the
Sales Comparison Approach is called
✔✔Separately or together - ✔✔Comparative analysis may employ quantitative analysis
and qualitative analysis
✔✔Trend - ✔✔"A quantitative technique used to identify and measure trends in the sale
prices of comparable properties; useful when sales data on highly comparable
properties is lacking, but a broad database on properties with less similar characteristics
is available. Market sensitivity is investigated by testing various factors that influence
sale prices" is the definition of ___________ analysis.
✔✔5.2% - ✔✔A property sold for $250,000 and then sold later in the same year for
$237,000. What was its percentage of decline?
✔✔Paired data analysis - ✔✔An analysis technique in which nearly identical properties
are analyzed to isolate a single characteristic's effect on value or rent is called
✔✔Graphic Analysis - ✔✔Which of the following is NOT a form of qualitative analysis?
✔✔Relative comparison - ✔✔The procedure in which we employ just plusses and
minuses in sales comparison is called ______________ analysis.
✔✔Qualitative - ✔✔"The process of accounting for differences (such as between
comparable properties and the subject property) that are not quantified; may be
combined with quantitative analysis" is the definition of ____________ techniques.
✔✔Paired data analysis - ✔✔An analysis technique in which nearly identical properties
are analyzed to isolate a single characteristic's effect on value or rent is called
✔✔Handle the difference through qualitative analysis - ✔✔An appraiser identifies a
value-related difference between the subject property and a comparable property in
terms of remodeling, however the appraiser is unable to extract a specific dollar
adjustment. What is the BEST course of action for the appraiser?
✔✔Graphic analysis - ✔✔Which of the following is NOT a form of qualitative analysis?
✔✔1.5% - ✔✔A property sold for $225,000 and then sold 6 months later for $245,000.
What was its average percentage of increase per month?
✔✔Either dividing by a rate or multiplying by a multiplier - ✔✔A rent loss can be
capitalized by
, ✔✔$5,000 - ✔✔A 1,900 square-foot home with a double garage sold for $210,000. A
home very similar except it had 2,000 square feet of living area and only a single
garage, recently sold for $208,000. It has been determined that the indicated
adjustment for square feet of living area is $30.00 per square foot. Which is the
indicated adjustment for the difference in garages?
✔✔Comparative analysis - ✔✔What is the name of the process by which a value
indication is derived in the Sales Comparison Approach?
✔✔Cost Analysis - ✔✔"In the Sales Comparison Approach, a quantitative adjustment
technique in which adjustments are based on cost indicators, such as depreciated
building cost, cost to cure, or permit fees" is the definition of
✔✔Real Property Rights Appraised - ✔✔In traditional appraisal theory, the first step in
the adjustment sequence is an adjustment for
✔✔Fee simple estate - ✔✔"Absolute ownership unencumbered by any other interest or
estate, subject only to the limitations imposed by the governmental powers of taxation,
eminent domain, police power, and escheat" is the definition of
✔✔partial interest - ✔✔"Divided or undivided rights in real estate that represent less
than the whole, i.e., a fractional interest such as a tenancy in common, easement, or life
interest" is the definition of
✔✔leased fee estate - ✔✔When appraising a 4-unit property and at least one unit is
leased, the property rights would be
✔✔affirmative easement - ✔✔"The right to perform a specific act on a property owned
by another" is the definition of
✔✔easement in gross - ✔✔"An easement that benefits a legal person or entity
(individual, corporation, partnership, LLC, government entity, etc.) and not a particular
tract of land; an easement having a servient estate but no dominant estate" is the
definition of a(an)
✔✔encroachment - ✔✔"Trespassing on the domain of another" is the definition of
✔✔condominium - ✔✔"A multiunit structure, or a unit within such a structure, with a
condominium form of ownership" is the definition of a
✔✔fee - ✔✔The most desirable form of timesharing is called ___________ timesharing.
✔✔joint tenancy and tenancy by survivorship - ✔✔Which ownerships include a right of
survivorship?
