Appraisal Principles Exam Questions/Answers
Graded A+ 2025/2026
Both Certified Residential and Certified General - Under the current qualifying education
criteria, there are college-level course requirements for __________ classifications.
$138,865 - You purchased a house for $120,000, three years ago. Property values
increased 3% the first year, 5%, the second year, and 7% the third year. How much is
your house worth now?
1930's - The first appraiser organizations were formed in the
Client - "The party or parties who engage, by employment or contract, an appraiser in a
specific assignment" is the definition of
$30,376.63 - You want to buy a house for $243,500. You can get a loan for 90% of
value. You will also have to pay 2.75 points on the loan. How much will you have to
deliver to closing to cover both the down payment and the loan points?
Assignment - "The act of transferring an interest in property or some right (such as
contract benefits) to another" is the definition of
5.42 - A lot measures 569.32 feet by 414.90 feet. How many acres is that?
Metes and Bounds - The oldest system of legal descriptions for real estate is:
It is not limited by governmental powers. - Which is NOT true of a fee simple estate?
ASB - The ______ publishes "other communications" in the form of Advisory Opinions
and USPAP FAQs.
Mary Jones - Mary Jones has a property with no road frontage. She has an access right
of way across the property of her neighbor Bob Smith for ingress, egress, and regress.
Who has the dominant tenement in this situation?
139 - When appraising an income producing property, you have the following GRMs
indicated from comparable sales (122, 159, 132, 126, 122, 173, 152, 126). What is the
mean of the GRMs?
Selller's - "An active market in which the sellers of available properties can obtain higher
prices than those obtainable in the immediately preceding period; a market in which a
few available properties are demanded at prevailing prices by many users and potential
users" is the definition of a(n) __________ market.
Access right of way - Which of the following would NOT be considered a negative
easement?
, 500 - The Uniform Commercial Code covers the sale of goods over $________.
The Appraisal Standards Board - Who retains final authority over revisions to USPAP?
a type of property, a specific property - A market analysis examines ____________ ,
where a marketability analysis examines ______________.
33.5 - What is the median of these numbers: 17, 12, 54, 36, 71, 28, 31, 55?
educational facilities - All of the following would be social influences on value EXCEPT
legally permissible - Normally the first step in highest and best use analysis is to
research the uses that are
2.16 - A lot measures 248.4 feet X 378.90 feet. How many acres is that?
Prime - The interest rate that banks charge when lending money to their highest rated
customers is called the __________ rate.
Through a National Registry fee charged to each appraiser - How is the Appraisal
Subcommittee funded?
ASB - The federal financial institutions regulatory agencies directly involved in fair
lending include all of the following EXCEPT
Externalities - A homeowner fears the construction of a factory nearby will decrease the
value of her property. This illustrates the principle of
EDI, PDF - Twenty years ago, most appraisal reports that were sent electronically were
sent using _____ technology; today, most appraisals are sent electronically using a
_______ format.
Borrowing, saving - Low interest rates encourage __________, while high interest rates
encourage _________.
not-for-profit organization - The Appraisal Foundation is a
Appraisal Subcommittee - The _______ maintains a national registry of state certified
and licensed appraisers who are eligible to perform appraisals in federally related
transactions.
Real Estate - Which of the following types of investments has historically generated the
highest return on investment?
Graded A+ 2025/2026
Both Certified Residential and Certified General - Under the current qualifying education
criteria, there are college-level course requirements for __________ classifications.
$138,865 - You purchased a house for $120,000, three years ago. Property values
increased 3% the first year, 5%, the second year, and 7% the third year. How much is
your house worth now?
1930's - The first appraiser organizations were formed in the
Client - "The party or parties who engage, by employment or contract, an appraiser in a
specific assignment" is the definition of
$30,376.63 - You want to buy a house for $243,500. You can get a loan for 90% of
value. You will also have to pay 2.75 points on the loan. How much will you have to
deliver to closing to cover both the down payment and the loan points?
Assignment - "The act of transferring an interest in property or some right (such as
contract benefits) to another" is the definition of
5.42 - A lot measures 569.32 feet by 414.90 feet. How many acres is that?
Metes and Bounds - The oldest system of legal descriptions for real estate is:
It is not limited by governmental powers. - Which is NOT true of a fee simple estate?
ASB - The ______ publishes "other communications" in the form of Advisory Opinions
and USPAP FAQs.
Mary Jones - Mary Jones has a property with no road frontage. She has an access right
of way across the property of her neighbor Bob Smith for ingress, egress, and regress.
Who has the dominant tenement in this situation?
139 - When appraising an income producing property, you have the following GRMs
indicated from comparable sales (122, 159, 132, 126, 122, 173, 152, 126). What is the
mean of the GRMs?
Selller's - "An active market in which the sellers of available properties can obtain higher
prices than those obtainable in the immediately preceding period; a market in which a
few available properties are demanded at prevailing prices by many users and potential
users" is the definition of a(n) __________ market.
Access right of way - Which of the following would NOT be considered a negative
easement?
, 500 - The Uniform Commercial Code covers the sale of goods over $________.
The Appraisal Standards Board - Who retains final authority over revisions to USPAP?
a type of property, a specific property - A market analysis examines ____________ ,
where a marketability analysis examines ______________.
33.5 - What is the median of these numbers: 17, 12, 54, 36, 71, 28, 31, 55?
educational facilities - All of the following would be social influences on value EXCEPT
legally permissible - Normally the first step in highest and best use analysis is to
research the uses that are
2.16 - A lot measures 248.4 feet X 378.90 feet. How many acres is that?
Prime - The interest rate that banks charge when lending money to their highest rated
customers is called the __________ rate.
Through a National Registry fee charged to each appraiser - How is the Appraisal
Subcommittee funded?
ASB - The federal financial institutions regulatory agencies directly involved in fair
lending include all of the following EXCEPT
Externalities - A homeowner fears the construction of a factory nearby will decrease the
value of her property. This illustrates the principle of
EDI, PDF - Twenty years ago, most appraisal reports that were sent electronically were
sent using _____ technology; today, most appraisals are sent electronically using a
_______ format.
Borrowing, saving - Low interest rates encourage __________, while high interest rates
encourage _________.
not-for-profit organization - The Appraisal Foundation is a
Appraisal Subcommittee - The _______ maintains a national registry of state certified
and licensed appraisers who are eligible to perform appraisals in federally related
transactions.
Real Estate - Which of the following types of investments has historically generated the
highest return on investment?
