Kentucky (KY) Property Valuation Administrator
Comprehensive Resource To Help You Ace 2026-2027 Exams
Includes Frequently Tested Questions With ELABORATED
100% Correct COMPLETE SOLUTIONS
Guaranteed Pass First Attempt!! Current Update!!
1. What is value, in terms of how much a property is worth?
a) the amount a lender is willing to finance for a property
b) what a ready, willing, and able buyer is willing to pay for a property and
an informed seller is willing to accept
c) the total cost to build the property from scratch
d) the assessed value used to calculate property taxes - Correct Answer:
b
2. Who determines value?
a) the appraiser
b) the buyer
c) the tax assessor
d) the listing agent - Correct Answer: b
3. What is the difference between an appraisal and a CMA/BPO?
a) an appraisal can be done by any real estate salesperson, while a CMA is
only done by a licensed appraiser
b) a CMA (comparative market analysis) or BPO (broker price opinion) is
done by a real estate salesperson, while an appraisal is done only by a
licensed appraiser
c) there is no difference — both terms describe the same estimate of value
d) a CMA is a legal document and an appraisal is only an opinion -
Correct Answer: b
,4. How do real estate agents typically arrive at a suggested listing price for a
property?
a) using comps via the MLS to create a CMA/BPO, based on price per square
foot, area availability, and special features/upgrades
b) using the assessed tax value only
c) using the insurable value from CLUE reports
d) using the original purchase price with no adjustments - Correct
Answer: a
5. Which comparable properties are typically used to determine a listing
price?
a) properties sold within the last 5 years anywhere in the county
b) properties sold within the last 6 months within a mile of the subject
property, of similar style and size
c) properties currently listed but not yet sold, regardless of location
d) only properties owned by the same seller - Correct Answer: b
6. What are the Elements of Value, remembered by the acronym D.U.S.T.?
a) Demand, Utility, Supply, and Transferability
b) Density, Use, Structure, and Title
c) Demand, Upgrades, Size, and Taxes
d) Design, Utility, Sale price, and Terms - Correct Answer: a
7. In D.U.S.T., what does "D" (Demand) refer to?
a) how useful the property is
b) how many people are able and want to buy it
c) how many similar properties are on the market
d) whether the title is free of clouds - Correct Answer: b
8. In D.U.S.T., what does "U" (Utility) refer to?
a) how many people want to buy it
, b) how useful the property is
c) the total supply of similar properties
d) the marketability of the title - Correct Answer: b
9. In D.U.S.T., what does "S" (Supply) refer to?
a) how useful the property is
b) how many of the property type exist — low inventory creates high
demand
c) whether the seller is willing to negotiate
d) the total square footage available - Correct Answer: b
10.In D.U.S.T., what does "T" (Transferability) refer to?
a) how quickly a property can be renovated
b) good, clean, marketable title, free of clouds on title
c) the transfer tax paid at closing
d) how far the property is from a transit line - Correct Answer: b
11.What is market value?
a) the total amount actually paid in the market for a property
b) the theoretical, fair market value — the price a willing/able seller would
accept and a willing/able buyer would pay, in an arm's length transaction
with no relationship between the parties
c) the cost to rebuild the property from the ground up
d) the value used solely for insurance purposes - Correct Answer: b
12.What is market price?
a) the fair market, theoretical value of a property
b) the total amount actually paid for a property in the market
c) the tax-assessed value of a property
d) the value assigned by an insurance company - Correct Answer: b
, 13.What is value-in-use?
a) the total cost to build the property
b) the value of a property to a particular user
c) the value used to calculate property taxes
d) the value of a property in a foreclosure sale - Correct Answer: b
14.What is cost, as a type of real estate value?
a) the price a buyer is willing to pay
b) the total cost to build the property
c) the amount an insurer will pay out
d) the value used by investors to project income - Correct Answer: b
15.What is investment value?
a) the tax value of a property
b) the value of a property for investors — how much the property is going
to make for them
c) the value used in a foreclosure sale
d) the value assigned during an arm's length transaction - Correct
Answer: b
16.What is insurable value?
a) the theoretical fair market value of a property
b) the value of a property for insurance purposes, referenced via CLUE
(Comprehensive Loss Underwriting Exchange)
c) the value used by the tax assessor
d) the value in a liquidation sale - Correct Answer: b
Comprehensive Resource To Help You Ace 2026-2027 Exams
Includes Frequently Tested Questions With ELABORATED
100% Correct COMPLETE SOLUTIONS
Guaranteed Pass First Attempt!! Current Update!!
1. What is value, in terms of how much a property is worth?
a) the amount a lender is willing to finance for a property
b) what a ready, willing, and able buyer is willing to pay for a property and
an informed seller is willing to accept
c) the total cost to build the property from scratch
d) the assessed value used to calculate property taxes - Correct Answer:
b
2. Who determines value?
a) the appraiser
b) the buyer
c) the tax assessor
d) the listing agent - Correct Answer: b
3. What is the difference between an appraisal and a CMA/BPO?
a) an appraisal can be done by any real estate salesperson, while a CMA is
only done by a licensed appraiser
b) a CMA (comparative market analysis) or BPO (broker price opinion) is
done by a real estate salesperson, while an appraisal is done only by a
licensed appraiser
c) there is no difference — both terms describe the same estimate of value
d) a CMA is a legal document and an appraisal is only an opinion -
Correct Answer: b
,4. How do real estate agents typically arrive at a suggested listing price for a
property?
a) using comps via the MLS to create a CMA/BPO, based on price per square
foot, area availability, and special features/upgrades
b) using the assessed tax value only
c) using the insurable value from CLUE reports
d) using the original purchase price with no adjustments - Correct
Answer: a
5. Which comparable properties are typically used to determine a listing
price?
a) properties sold within the last 5 years anywhere in the county
b) properties sold within the last 6 months within a mile of the subject
property, of similar style and size
c) properties currently listed but not yet sold, regardless of location
d) only properties owned by the same seller - Correct Answer: b
6. What are the Elements of Value, remembered by the acronym D.U.S.T.?
a) Demand, Utility, Supply, and Transferability
b) Density, Use, Structure, and Title
c) Demand, Upgrades, Size, and Taxes
d) Design, Utility, Sale price, and Terms - Correct Answer: a
7. In D.U.S.T., what does "D" (Demand) refer to?
a) how useful the property is
b) how many people are able and want to buy it
c) how many similar properties are on the market
d) whether the title is free of clouds - Correct Answer: b
8. In D.U.S.T., what does "U" (Utility) refer to?
a) how many people want to buy it
, b) how useful the property is
c) the total supply of similar properties
d) the marketability of the title - Correct Answer: b
9. In D.U.S.T., what does "S" (Supply) refer to?
a) how useful the property is
b) how many of the property type exist — low inventory creates high
demand
c) whether the seller is willing to negotiate
d) the total square footage available - Correct Answer: b
10.In D.U.S.T., what does "T" (Transferability) refer to?
a) how quickly a property can be renovated
b) good, clean, marketable title, free of clouds on title
c) the transfer tax paid at closing
d) how far the property is from a transit line - Correct Answer: b
11.What is market value?
a) the total amount actually paid in the market for a property
b) the theoretical, fair market value — the price a willing/able seller would
accept and a willing/able buyer would pay, in an arm's length transaction
with no relationship between the parties
c) the cost to rebuild the property from the ground up
d) the value used solely for insurance purposes - Correct Answer: b
12.What is market price?
a) the fair market, theoretical value of a property
b) the total amount actually paid for a property in the market
c) the tax-assessed value of a property
d) the value assigned by an insurance company - Correct Answer: b
, 13.What is value-in-use?
a) the total cost to build the property
b) the value of a property to a particular user
c) the value used to calculate property taxes
d) the value of a property in a foreclosure sale - Correct Answer: b
14.What is cost, as a type of real estate value?
a) the price a buyer is willing to pay
b) the total cost to build the property
c) the amount an insurer will pay out
d) the value used by investors to project income - Correct Answer: b
15.What is investment value?
a) the tax value of a property
b) the value of a property for investors — how much the property is going
to make for them
c) the value used in a foreclosure sale
d) the value assigned during an arm's length transaction - Correct
Answer: b
16.What is insurable value?
a) the theoretical fair market value of a property
b) the value of a property for insurance purposes, referenced via CLUE
(Comprehensive Loss Underwriting Exchange)
c) the value used by the tax assessor
d) the value in a liquidation sale - Correct Answer: b
