BASIC APPRAISAL PRINCIPLES FINAL
EXAM TEST 2025 NEWEST COMPLETE
EXAM QUESTIONS WITH DETAILED
VERIFIED ANSWERS (100% CORRECT
ANSWERS) /ALREADY GRADED A+
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
median of the GRMs?
a. 129
b. 139
c. 132
d. 126 - ....ANSWER...a. 129
The four components of the Appraiser Qualification
Criteria are:
a. Qualifying education, examination, experience,
continuing education
b. Continuing education, examination, experience,
college credits
,c. Continuing experience, qualifying experience,
examination, continuing education
d. Experience credits, examination, qualifying credits,
unpaid internship - ....ANSWER...a. Qualifying
education, examination, experience, continuing
education
Which of the following types of investments has
historically generated the highest return on investment?
a. Real estate
b. Savings account
c. Money market fund
d. Certificate of deposit - ....ANSWER...a. Real estate
Which would NOT be an example of demand in a real
property market?
a. Increasing immigration into an area
b. Decreasing building permits
c. Decreasing vacancy rates
d. Increasing unemployment - ....ANSWER...b.
Decreasing building permits
,Sonic measuring devices employ _____________ to take
measurements.
a. Laser beams
b. Wheels
c. Sound waves
d. Light beams - ....ANSWER...c. Sound waves
A client has requested that an appraiser value a
property that is improved with an old dilapidated single
family home, and asks the appraiser not to mention the
existence of the home in the appraisal report. Which
statement is TRUE regarding this situation? -
....ANSWER...It would be misleading if the appraiser
did not disclose the existence of this structure in the
report.
"The price expected for a whole property, e.g., a house,
or a part of a property, e.g., a plumbing fixture, that is
removed from the premises usually for use elsewhere" is
the definition of ____________ value. -
....ANSWER...Salvage
Reporting requirements for real property appraisers are
set forth in STANDARD ___ of the Uniform Standards
of Professional Appraisal Practice. - ....ANSWER...2
, The appraisal standards and qualification criteria that
are published by The Appraisal Foundation achieve
legal authority by adoption, citation or implementation
by - ....ANSWER...Government agencies with the power
to regulate or administrate
The ________ is responsible for establishing criteria for
individuals to become real property appraisers -
....ANSWER...Appraiser Qualification Board
The principle of supply and demand states that the price
of a commodity, good, or service varies __________, but
not necessarily _____________, with demand. -
....ANSWER...directly, proportionately
A lot contains .56 acres. It sells for $35,000. How much
did it sell for per square foot? - ....ANSWER...$1.43
The _______ maintains a national registry of state
certified and licensed appraisers who are eligible to
perform appraisals in federally related transactions. -
....ANSWER...Appraisal Subcommittee
EXAM TEST 2025 NEWEST COMPLETE
EXAM QUESTIONS WITH DETAILED
VERIFIED ANSWERS (100% CORRECT
ANSWERS) /ALREADY GRADED A+
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
median of the GRMs?
a. 129
b. 139
c. 132
d. 126 - ....ANSWER...a. 129
The four components of the Appraiser Qualification
Criteria are:
a. Qualifying education, examination, experience,
continuing education
b. Continuing education, examination, experience,
college credits
,c. Continuing experience, qualifying experience,
examination, continuing education
d. Experience credits, examination, qualifying credits,
unpaid internship - ....ANSWER...a. Qualifying
education, examination, experience, continuing
education
Which of the following types of investments has
historically generated the highest return on investment?
a. Real estate
b. Savings account
c. Money market fund
d. Certificate of deposit - ....ANSWER...a. Real estate
Which would NOT be an example of demand in a real
property market?
a. Increasing immigration into an area
b. Decreasing building permits
c. Decreasing vacancy rates
d. Increasing unemployment - ....ANSWER...b.
Decreasing building permits
,Sonic measuring devices employ _____________ to take
measurements.
a. Laser beams
b. Wheels
c. Sound waves
d. Light beams - ....ANSWER...c. Sound waves
A client has requested that an appraiser value a
property that is improved with an old dilapidated single
family home, and asks the appraiser not to mention the
existence of the home in the appraisal report. Which
statement is TRUE regarding this situation? -
....ANSWER...It would be misleading if the appraiser
did not disclose the existence of this structure in the
report.
"The price expected for a whole property, e.g., a house,
or a part of a property, e.g., a plumbing fixture, that is
removed from the premises usually for use elsewhere" is
the definition of ____________ value. -
....ANSWER...Salvage
Reporting requirements for real property appraisers are
set forth in STANDARD ___ of the Uniform Standards
of Professional Appraisal Practice. - ....ANSWER...2
, The appraisal standards and qualification criteria that
are published by The Appraisal Foundation achieve
legal authority by adoption, citation or implementation
by - ....ANSWER...Government agencies with the power
to regulate or administrate
The ________ is responsible for establishing criteria for
individuals to become real property appraisers -
....ANSWER...Appraiser Qualification Board
The principle of supply and demand states that the price
of a commodity, good, or service varies __________, but
not necessarily _____________, with demand. -
....ANSWER...directly, proportionately
A lot contains .56 acres. It sells for $35,000. How much
did it sell for per square foot? - ....ANSWER...$1.43
The _______ maintains a national registry of state
certified and licensed appraisers who are eligible to
perform appraisals in federally related transactions. -
....ANSWER...Appraisal Subcommittee
