CERTIFIED GENERAL APPRAISER COMPLETE EXAM
LATEST VERSION 2026-2027 QUESTIONS AND
ANSWERS
What is the overall rate of return?
10-10.5% aaa
10.5-11%
11-11.25%
11.25-11.5%
More than 11.5% - answer>>a
What is the equity divident rate?
10-10.5%
10.5-11%
11-11.25%
11.25-12%
None of the above - answer>>e
The most common type of partial-interest appraisal involves
A leased property
A timeshare residence
A condominium
Rezoning
Condemnation - answer>>a
When contract rent exceeds market rent, the leasehold interst
Is subleased
Must be appraised
,Has no positive value
Should be mortgaged
Is the same as the leased fee - answer>>c
Lease provisions may descrivwe all of the following except
Rental payments and the term of use and occupancy
Whether landlord or tenant pays operating expenses
Rent escalations and renewal or purchase options
The credit rating of the tenant
Assignment or subletting rights - answer>>d
Overage rent is the
Actual rent over the entire lease term
Percentage rent above guaranteed minimum rent
Amount by which contract rent exceeds market rent
Rent that is past due
Rent the property could command in the open market if not subject to its lease - answer>>b
A lease normally states all of the following except
Agreed terms of occupancy
Rental payments
Tenant's responsibilities and obligations
Financing of the property
Actions causing degault - answer>>d
All of the following lease provisions are advantageious to the lessee except
An escape clause
A renewal option
A purchase option
, An escalation clause
All of the above are advantageous. - answer>>d
Homeowners' associatins are usually found in
Planned unit developments (pud)
Condominiums
Timeshares
Both a and b
None of the above - answer>>d
If a $54,000 investment in real estate generates gross earnings of 15%, the gross monthly return
most nearly is
$819
$705
$665
$637
$8,100 - answer>>c
In arriving at an effective gross income figure, an appraiser of rental property makes a deduction
for
Real property taxes
Repairs
Vacancy
Depreciation
Replacement reserves - answer>>c
The fact that rents tend to be set by the market for equally desirable space reflects the principle
of
Balance
Substitution
LATEST VERSION 2026-2027 QUESTIONS AND
ANSWERS
What is the overall rate of return?
10-10.5% aaa
10.5-11%
11-11.25%
11.25-11.5%
More than 11.5% - answer>>a
What is the equity divident rate?
10-10.5%
10.5-11%
11-11.25%
11.25-12%
None of the above - answer>>e
The most common type of partial-interest appraisal involves
A leased property
A timeshare residence
A condominium
Rezoning
Condemnation - answer>>a
When contract rent exceeds market rent, the leasehold interst
Is subleased
Must be appraised
,Has no positive value
Should be mortgaged
Is the same as the leased fee - answer>>c
Lease provisions may descrivwe all of the following except
Rental payments and the term of use and occupancy
Whether landlord or tenant pays operating expenses
Rent escalations and renewal or purchase options
The credit rating of the tenant
Assignment or subletting rights - answer>>d
Overage rent is the
Actual rent over the entire lease term
Percentage rent above guaranteed minimum rent
Amount by which contract rent exceeds market rent
Rent that is past due
Rent the property could command in the open market if not subject to its lease - answer>>b
A lease normally states all of the following except
Agreed terms of occupancy
Rental payments
Tenant's responsibilities and obligations
Financing of the property
Actions causing degault - answer>>d
All of the following lease provisions are advantageious to the lessee except
An escape clause
A renewal option
A purchase option
, An escalation clause
All of the above are advantageous. - answer>>d
Homeowners' associatins are usually found in
Planned unit developments (pud)
Condominiums
Timeshares
Both a and b
None of the above - answer>>d
If a $54,000 investment in real estate generates gross earnings of 15%, the gross monthly return
most nearly is
$819
$705
$665
$637
$8,100 - answer>>c
In arriving at an effective gross income figure, an appraiser of rental property makes a deduction
for
Real property taxes
Repairs
Vacancy
Depreciation
Replacement reserves - answer>>c
The fact that rents tend to be set by the market for equally desirable space reflects the principle
of
Balance
Substitution
