RESIDENTIAL SALES LATEST
COMPARISON AND
INCOME APPROACHES
QUESTIONS AND
ANSWERS 2026 - 2027
Adjustments to comparable sales should be made when there is
_________________ difference between a sale and the subject property.
A noticeable
At least a 5%
A positive or negative
A significant, measurable - ANSWERS-A significant, measurable
In the sales comparison reconciliation, how many sales should we have
before we consider using a statistical analysis?
3
4
Any number is fine
6 or more - ANSWERS-6 or more
END OF
PAGE
1
, RESIDENTIAL SALES LATEST
COMPARISON AND
INCOME APPROACHES
QUESTIONS AND
ANSWERS 2026 - 2027
Standards Rule 1-1(c) of USPAP says an appraiser must "not render
appraisal services in __________________ manner..."
An illegal
A careless or negligent
An inappropriate
Unsupported - ANSWERS-A careless or negligent
Ranking of the comparable sales in order of _________ makes a logical
and persuasive argument.
Time of sale
Sale price
Desirability
Functionality - ANSWERS-Desirability
END OF
PAGE
2
, RESIDENTIAL SALES LATEST
COMPARISON AND
INCOME APPROACHES
QUESTIONS AND
ANSWERS 2026 - 2027
"The criteria that enable an appraiser to form a meaningful, defensible
conclusion about the final value opinion. Value indications are tested for
the appropriateness of the approaches and adjustments applied, the
accuracy of the data, and the quantity of evidence analyzed" is the
definition of
Statistical analysis
Micro analysis
Reconciliation criteria
Reconciled data - ANSWERS-Reconciliation criteria
The reconciliation is like a lawyer's __________ to the jury.
Plea
Summation
Appeal
END OF
PAGE
3
, RESIDENTIAL SALES LATEST
COMPARISON AND
INCOME APPROACHES
QUESTIONS AND
ANSWERS 2026 - 2027
Opening Statement - ANSWERS-Summation
The period over which improvements to real property contribute to
property value is the definition of_______life - ANSWERS-Physical
Replacement reserves might e established for all fo the follwoing except
- ANSWERS-Roof Structure
a property recently sold for $265,000 and land value was estimated to be
$50,000. The cost new of the improvements today would be $362,000.
The property is 22 years old. What is the present depreciated cost of the
improvements? - ANSWERS-265000 - 50000= 215000.
an owndership interest held by a landlord with the rights of use and
occupancy conveyed by lease to others is the definition of________ -
ANSWERS-Leasehold interest.
END OF
PAGE
4
COMPARISON AND
INCOME APPROACHES
QUESTIONS AND
ANSWERS 2026 - 2027
Adjustments to comparable sales should be made when there is
_________________ difference between a sale and the subject property.
A noticeable
At least a 5%
A positive or negative
A significant, measurable - ANSWERS-A significant, measurable
In the sales comparison reconciliation, how many sales should we have
before we consider using a statistical analysis?
3
4
Any number is fine
6 or more - ANSWERS-6 or more
END OF
PAGE
1
, RESIDENTIAL SALES LATEST
COMPARISON AND
INCOME APPROACHES
QUESTIONS AND
ANSWERS 2026 - 2027
Standards Rule 1-1(c) of USPAP says an appraiser must "not render
appraisal services in __________________ manner..."
An illegal
A careless or negligent
An inappropriate
Unsupported - ANSWERS-A careless or negligent
Ranking of the comparable sales in order of _________ makes a logical
and persuasive argument.
Time of sale
Sale price
Desirability
Functionality - ANSWERS-Desirability
END OF
PAGE
2
, RESIDENTIAL SALES LATEST
COMPARISON AND
INCOME APPROACHES
QUESTIONS AND
ANSWERS 2026 - 2027
"The criteria that enable an appraiser to form a meaningful, defensible
conclusion about the final value opinion. Value indications are tested for
the appropriateness of the approaches and adjustments applied, the
accuracy of the data, and the quantity of evidence analyzed" is the
definition of
Statistical analysis
Micro analysis
Reconciliation criteria
Reconciled data - ANSWERS-Reconciliation criteria
The reconciliation is like a lawyer's __________ to the jury.
Plea
Summation
Appeal
END OF
PAGE
3
, RESIDENTIAL SALES LATEST
COMPARISON AND
INCOME APPROACHES
QUESTIONS AND
ANSWERS 2026 - 2027
Opening Statement - ANSWERS-Summation
The period over which improvements to real property contribute to
property value is the definition of_______life - ANSWERS-Physical
Replacement reserves might e established for all fo the follwoing except
- ANSWERS-Roof Structure
a property recently sold for $265,000 and land value was estimated to be
$50,000. The cost new of the improvements today would be $362,000.
The property is 22 years old. What is the present depreciated cost of the
improvements? - ANSWERS-265000 - 50000= 215000.
an owndership interest held by a landlord with the rights of use and
occupancy conveyed by lease to others is the definition of________ -
ANSWERS-Leasehold interest.
END OF
PAGE
4
