1
KENTUCKY DEPARTMENT OF REVENUE PROPERTY
VALUATION ADMINISTRATOR (PVA) QUALIFYING 2026-
27 NEWEST EXAMINATION QUESTIONS AND ANSWERS
PLUS RATIONALES
• Which approach to value is generally most appropriate for an income-
producing commercial property?
A) Sales comparison approach
B) Income capitalization approach
C) Cost approach
D) Replacement cost approach
Answer: B
Rationale: For income-producing properties, the income approach is generally most
appropriate. Department of Revenue+1
• What is one of the primary goals of the professional designation program
for Kentucky property tax administrators (CKA/SKA)?
A) To make PVA offices profitable
B) To ensure individuals have knowledge of appraisal and assessment
procedures
,2
C) To abolish property taxes
D) To reduce the number of PVAs
Answer: B
Rationale: The Student Manual states the program was initiated to provide
opportunities for professional instruction in valuation and assessment.
Department of Revenue
• Which of the following best describes the “mass appraisal” process?
A) Valuing one property at a time with no statistical models
B) Using computer-assisted techniques and models to value groups of
properties
C) Ignoring market data entirely
D) Relying solely on cost-replacement data
Answer: B
Rationale: Mass appraisal involves modeling and computer-assisted techniques for
many properties rather than one-by-one. Department of Revenue
• Under Kentucky law, the property of one person must not be assessed
“willfully or intentionally at a lower … relative value than the same class of
property of another.” What is this called?
A) Vertical equity
B) Horizontal equity
C) Externality
D) Depreciation
Answer: B
Rationale: This is a statement of horizontal equity — among like properties similar
treatment. Schneider Geospatial+1
,3
• A newly constructed building has incurred some physical
depreciation due to minor wear. When applying the cost approach, you estimate
replacement cost at $500,000 and depreciation at 3 %. What is the depreciated
cost of the improvements?
A) $485,000
B) $470,000
C) $495,000
D) $500,000
Answer: C
Rationale: $500,000 minus 3% ($15,000) gives $485,000. Actually the answer
should reflect calculation: $500k – $15k = $485k. Correction: So the correct answer
is $485,000. Thus A. However question asked what is depreciated cost so answer
A. (Assuming choices: A = 485k).
• What purpose does an assessment/sales ratio study serve in the PVA
office?
A) To set zoning classifications
B) To evaluate level and uniformity of assessments
C) To determine tax rates
D) To calculate depreciation schedules
Answer: B
Rationale: Ratio studies compare assessed values to sales to evaluate assessment
level and uniformity. Department of Revenue
• In the appeals process, when must a taxpayer file a petition with the county
clerk after the inspection period ends?
A) Within one (1) workday
B) Within seven (7) days
C) Within thirty (30) days
D) Within ninety (90) days
, 4
Answer: A
Rationale: KRS 133.120(2)(b-c) states the appeal must be filed no later than one
workday after the inspection period ends. Schneider
Geospatial
• Which of the following is not typically a data source used in the sales
comparison approach?
A) Recent sales of comparable properties
B) Listing prices of properties currently for sale
C) Income and expense statements of an income-producing property
D) Contract sales
Answer: C
Rationale: Income and expense statements are more relevant in the income
approach rather than sales comparison. Department of Revenue+1
• The PVA chooses to use a multiple regression model to value
residential property in the county. This is an example of applying:
A) Cost approach
B) Sales comparison approach
C) Income approach
D) Automated Mass Appraisal (AMA) techniques
Answer: D
Rationale: Use of statistical modeling and regression in valuing many properties is
part of automated mass appraisal techniques. Department of Revenue
• What key factor differentiates “fair cash value” from “market value” in
Kentucky statute?
A) They are always identical
KENTUCKY DEPARTMENT OF REVENUE PROPERTY
VALUATION ADMINISTRATOR (PVA) QUALIFYING 2026-
27 NEWEST EXAMINATION QUESTIONS AND ANSWERS
PLUS RATIONALES
• Which approach to value is generally most appropriate for an income-
producing commercial property?
A) Sales comparison approach
B) Income capitalization approach
C) Cost approach
D) Replacement cost approach
Answer: B
Rationale: For income-producing properties, the income approach is generally most
appropriate. Department of Revenue+1
• What is one of the primary goals of the professional designation program
for Kentucky property tax administrators (CKA/SKA)?
A) To make PVA offices profitable
B) To ensure individuals have knowledge of appraisal and assessment
procedures
,2
C) To abolish property taxes
D) To reduce the number of PVAs
Answer: B
Rationale: The Student Manual states the program was initiated to provide
opportunities for professional instruction in valuation and assessment.
Department of Revenue
• Which of the following best describes the “mass appraisal” process?
A) Valuing one property at a time with no statistical models
B) Using computer-assisted techniques and models to value groups of
properties
C) Ignoring market data entirely
D) Relying solely on cost-replacement data
Answer: B
Rationale: Mass appraisal involves modeling and computer-assisted techniques for
many properties rather than one-by-one. Department of Revenue
• Under Kentucky law, the property of one person must not be assessed
“willfully or intentionally at a lower … relative value than the same class of
property of another.” What is this called?
A) Vertical equity
B) Horizontal equity
C) Externality
D) Depreciation
Answer: B
Rationale: This is a statement of horizontal equity — among like properties similar
treatment. Schneider Geospatial+1
,3
• A newly constructed building has incurred some physical
depreciation due to minor wear. When applying the cost approach, you estimate
replacement cost at $500,000 and depreciation at 3 %. What is the depreciated
cost of the improvements?
A) $485,000
B) $470,000
C) $495,000
D) $500,000
Answer: C
Rationale: $500,000 minus 3% ($15,000) gives $485,000. Actually the answer
should reflect calculation: $500k – $15k = $485k. Correction: So the correct answer
is $485,000. Thus A. However question asked what is depreciated cost so answer
A. (Assuming choices: A = 485k).
• What purpose does an assessment/sales ratio study serve in the PVA
office?
A) To set zoning classifications
B) To evaluate level and uniformity of assessments
C) To determine tax rates
D) To calculate depreciation schedules
Answer: B
Rationale: Ratio studies compare assessed values to sales to evaluate assessment
level and uniformity. Department of Revenue
• In the appeals process, when must a taxpayer file a petition with the county
clerk after the inspection period ends?
A) Within one (1) workday
B) Within seven (7) days
C) Within thirty (30) days
D) Within ninety (90) days
, 4
Answer: A
Rationale: KRS 133.120(2)(b-c) states the appeal must be filed no later than one
workday after the inspection period ends. Schneider
Geospatial
• Which of the following is not typically a data source used in the sales
comparison approach?
A) Recent sales of comparable properties
B) Listing prices of properties currently for sale
C) Income and expense statements of an income-producing property
D) Contract sales
Answer: C
Rationale: Income and expense statements are more relevant in the income
approach rather than sales comparison. Department of Revenue+1
• The PVA chooses to use a multiple regression model to value
residential property in the county. This is an example of applying:
A) Cost approach
B) Sales comparison approach
C) Income approach
D) Automated Mass Appraisal (AMA) techniques
Answer: D
Rationale: Use of statistical modeling and regression in valuing many properties is
part of automated mass appraisal techniques. Department of Revenue
• What key factor differentiates “fair cash value” from “market value” in
Kentucky statute?
A) They are always identical
