BASIC APPRAISAL PRINCIPLES FINAL
EXAM 2025 QUESTIONS WITH
VERIFIED ANSWERS
"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? - Correct
Answer=> $138,865"
"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? - Correct Answer=> Mary Jones"
"Which Statement About Price, Cost, And Value Is True? - Correct
Answer=> Price And Value Can Be The Same In Some Situations."
"The Median Price Of Homes Sold In Your County Nine Months
Ago Was $217,400. Prices Have Been Increasing At The Rate Of 8%
Per Year. What Is The Median Price Of Homes Today? - Correct
Answer=> $230,444"
1|Page
,"As Part Of The Overall Requirement For Continuing Education,
Certified And Licensed Appraisers Must Complete The 7-Hour
National Uspap Update Course Or Its Equivalent ________
Calendar Year(S). - Correct Answer=> Every 2"
"Electronic Data Interchange For Transmitting Appraisal Reports
Became Popular In The - Correct Answer=> Late 1990s"
"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? -
Correct Answer=> 129"
""A Development Right That Cannot Be Used By The Landowner,
Or That The Owner Chooses Not To Use, But Can Be Sold To
Landowners In Another Location" Are Called _____________
Rights. - Correct Answer=> Transferable Development"
"The Conduct Section Of The Ethics Rule States, In Part, That An
Appraiser Must Perform Assignments With - Correct Answer=>
Impartiality, Objectivity, And Independence"
2|Page
,"The Four Components Of The Appraiser Qualification Criteria Are:
- Correct Answer=> Qualifying Education, Examination,
Experience, Continuing Education"
"Which Of The Below Is A Requirement Of A Valid Real Estate
Contract? - Correct Answer=> All Of The Above"
"Uspap Defines _________ As The Amount Asked, Offered, Or
Paid For A Property. - Correct Answer=> Price"
""The Act Of Transferring An Interest In Property Or Some Right
(Such As Contract Benefits) To Another" Is The Definition Of -
Correct Answer=> Assignment"
""The Study Of The Cost-Benefit Relationship Of An Economic
Endeavor" Is The Definition Of - Correct Answer=> Feasibility
Analysis"
"Your Property, Which Consists Of A House On A Lot, Is Valued At
$186,000. You Want To Insure It For 80% Of Value. Insurance Will
3|Page
, Cost $6.00 Per Thousand Per Year. How Much Will Your Insurance
Cost Per Month? - Correct Answer=> $74.40"
"A Client Asks An Appraiser To Omit The Client's Identity From The
Appraisal Report. What Can The Appraiser Do? - Correct
Answer=> Omit The Client's Identity From The Report But Identify
The Client In The Workfile"
"The Primary Purpose Of Uspap Is To Protect - Correct Answer=>
Public Trust"
"Which Is The Fullest And Most Complete Type Of Estate? -
Correct Answer=> Fee Simple"
""A Mortgage In Which The Interest Rate May Move Up Or Down,
Following A Specified Schedule Or In Accordance With The
Movements Of A Standard Or Index To Which It Is Tied" Is The
Definition Of A(N) ______________ Mortgage. - Correct Answer=>
Adjustable Rate"
"Transportation Would Be An Example Of A(N) __________ Force
Affecting Property Values. - Correct Answer=> Governmental"
4|Page
EXAM 2025 QUESTIONS WITH
VERIFIED ANSWERS
"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? - Correct
Answer=> $138,865"
"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? - Correct Answer=> Mary Jones"
"Which Statement About Price, Cost, And Value Is True? - Correct
Answer=> Price And Value Can Be The Same In Some Situations."
"The Median Price Of Homes Sold In Your County Nine Months
Ago Was $217,400. Prices Have Been Increasing At The Rate Of 8%
Per Year. What Is The Median Price Of Homes Today? - Correct
Answer=> $230,444"
1|Page
,"As Part Of The Overall Requirement For Continuing Education,
Certified And Licensed Appraisers Must Complete The 7-Hour
National Uspap Update Course Or Its Equivalent ________
Calendar Year(S). - Correct Answer=> Every 2"
"Electronic Data Interchange For Transmitting Appraisal Reports
Became Popular In The - Correct Answer=> Late 1990s"
"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? -
Correct Answer=> 129"
""A Development Right That Cannot Be Used By The Landowner,
Or That The Owner Chooses Not To Use, But Can Be Sold To
Landowners In Another Location" Are Called _____________
Rights. - Correct Answer=> Transferable Development"
"The Conduct Section Of The Ethics Rule States, In Part, That An
Appraiser Must Perform Assignments With - Correct Answer=>
Impartiality, Objectivity, And Independence"
2|Page
,"The Four Components Of The Appraiser Qualification Criteria Are:
- Correct Answer=> Qualifying Education, Examination,
Experience, Continuing Education"
"Which Of The Below Is A Requirement Of A Valid Real Estate
Contract? - Correct Answer=> All Of The Above"
"Uspap Defines _________ As The Amount Asked, Offered, Or
Paid For A Property. - Correct Answer=> Price"
""The Act Of Transferring An Interest In Property Or Some Right
(Such As Contract Benefits) To Another" Is The Definition Of -
Correct Answer=> Assignment"
""The Study Of The Cost-Benefit Relationship Of An Economic
Endeavor" Is The Definition Of - Correct Answer=> Feasibility
Analysis"
"Your Property, Which Consists Of A House On A Lot, Is Valued At
$186,000. You Want To Insure It For 80% Of Value. Insurance Will
3|Page
, Cost $6.00 Per Thousand Per Year. How Much Will Your Insurance
Cost Per Month? - Correct Answer=> $74.40"
"A Client Asks An Appraiser To Omit The Client's Identity From The
Appraisal Report. What Can The Appraiser Do? - Correct
Answer=> Omit The Client's Identity From The Report But Identify
The Client In The Workfile"
"The Primary Purpose Of Uspap Is To Protect - Correct Answer=>
Public Trust"
"Which Is The Fullest And Most Complete Type Of Estate? -
Correct Answer=> Fee Simple"
""A Mortgage In Which The Interest Rate May Move Up Or Down,
Following A Specified Schedule Or In Accordance With The
Movements Of A Standard Or Index To Which It Is Tied" Is The
Definition Of A(N) ______________ Mortgage. - Correct Answer=>
Adjustable Rate"
"Transportation Would Be An Example Of A(N) __________ Force
Affecting Property Values. - Correct Answer=> Governmental"
4|Page
