APPRAISAL SUBJECT MATTER ELECTIVES
QUESTIONS AND ANSWERS LATEST 2025-2026
EXAM UPDATE |GRADE A+ GUARANTEE
Which entities require that defective paint surfaces on dwellings built
prior to 1978 must be encapsulated?
1) Fannie Mae and Freddie Mac
2) FHA and Fannie Mae
3) Freddie Mac and FDIC
4) FHA and VA - Answer-FHA and VA
Which would NOT be a common way that radon could enter a house?
1) foundation cracks
2) well water
3) air conditioning ducts
4) the hole around a sump pump - Answer-air conditioning ducts
mold
An appraiser is inspecting a dwelling that was built in 1975 for an FHA
appraisal. The appraiser notes defective paint surfaces on two exterior
windowsills. What should the appraiser do?
1) Require testing by a professional to determine if the defective paint is
lead-based
2) Note the locations of the defective paint and make the appraisal
subject to these areas being scraped and painted
,3) Require the windowsills to be replaced with
all new wood and painted with non-lead based
paint
4) Nothing; these are exterior surfaces and are considered to be harmless
to the property occupants - Answer-Note the locations of the defective
paint and make the appraisal subject to these areas being scraped and
painted
Asbestos can be found in all of the following products EXCEPT
1) insulation fore pipes
2) resilient floor tile
3) roof shingles
4) pressure treated wood - Answer-pressure treated wood
Areas that are inundated by surface or groundwater at a frequency and
duration sufficient to support, and that under normal conditions do
support a prevalence of vegetation typically adapted for life in saturated
soil conditions, are
1) quarries
2) grayfields
3) brownfields
4) wetlands - Answer-wetlands
The most common source of brownfields contamination is
1) petroleum
,2) radon
3) formaldehyde
4) asbestos - Answer-petroleum
Over the years, asbestos has been used for
1) insulation only
2) fire protection only
3) insulation and fire protection
4) insulation and an additive to paint - Answer-insulation and fire
protection
Which statement is FALSE concerning wetlands?
1) Some areas have been declared as wetlands that are dry for all but
seven days a year.
2) They can be found in high mountain plateaus.
3) A wetland must be wet year-round.
4) The United States loses about 60,000 acres of wetlands each year. -
Answer-A wetland must be wet year-round.
When testing USTs what is it called when holes are drilled and soil
samples are shipped to an EPA-approved lab?
1) soil borings
2) tank integrity tests
3) negative pressure test
, 4) probe test - Answer-soil borings
When appraising a property that is subject to environmental
contamination, Fannie Mae requires an appraiser to note the hazardous
condition in the appraisal report, comment on any influence the hazard
has on value and marketability, and:
1) Report the hazard to the local code enforcement agency
2) Note on the report that the property is "ineligible for a GSE loan"
3) Make appropriate adjustments in analyzing the property's value
4) Use a minimum of three comparable sales subject to the same hazard
- Answer-Make appropriate adjustments in analyzing the property's
value
What does Fannie Mae expect from an appraiser regarding
identification of environmental hazards?
1) The appraiser is an expert in identifying environmental hazards and is
expected to perform as such
2) Note any adverse conditions that were observed during the inspection
or during research
3) Every property has at least one potential environmental hazard, and it
is the appraiser's job to find it
4) The appraiser must inspect the property for hidden and unapparent
environmental hazards - Answer-Note any adverse conditions that were
observed during the inspection or during research
Nationwide Permits are now required for projects impacting as little as
_______ of wetlands.
QUESTIONS AND ANSWERS LATEST 2025-2026
EXAM UPDATE |GRADE A+ GUARANTEE
Which entities require that defective paint surfaces on dwellings built
prior to 1978 must be encapsulated?
1) Fannie Mae and Freddie Mac
2) FHA and Fannie Mae
3) Freddie Mac and FDIC
4) FHA and VA - Answer-FHA and VA
Which would NOT be a common way that radon could enter a house?
1) foundation cracks
2) well water
3) air conditioning ducts
4) the hole around a sump pump - Answer-air conditioning ducts
mold
An appraiser is inspecting a dwelling that was built in 1975 for an FHA
appraisal. The appraiser notes defective paint surfaces on two exterior
windowsills. What should the appraiser do?
1) Require testing by a professional to determine if the defective paint is
lead-based
2) Note the locations of the defective paint and make the appraisal
subject to these areas being scraped and painted
,3) Require the windowsills to be replaced with
all new wood and painted with non-lead based
paint
4) Nothing; these are exterior surfaces and are considered to be harmless
to the property occupants - Answer-Note the locations of the defective
paint and make the appraisal subject to these areas being scraped and
painted
Asbestos can be found in all of the following products EXCEPT
1) insulation fore pipes
2) resilient floor tile
3) roof shingles
4) pressure treated wood - Answer-pressure treated wood
Areas that are inundated by surface or groundwater at a frequency and
duration sufficient to support, and that under normal conditions do
support a prevalence of vegetation typically adapted for life in saturated
soil conditions, are
1) quarries
2) grayfields
3) brownfields
4) wetlands - Answer-wetlands
The most common source of brownfields contamination is
1) petroleum
,2) radon
3) formaldehyde
4) asbestos - Answer-petroleum
Over the years, asbestos has been used for
1) insulation only
2) fire protection only
3) insulation and fire protection
4) insulation and an additive to paint - Answer-insulation and fire
protection
Which statement is FALSE concerning wetlands?
1) Some areas have been declared as wetlands that are dry for all but
seven days a year.
2) They can be found in high mountain plateaus.
3) A wetland must be wet year-round.
4) The United States loses about 60,000 acres of wetlands each year. -
Answer-A wetland must be wet year-round.
When testing USTs what is it called when holes are drilled and soil
samples are shipped to an EPA-approved lab?
1) soil borings
2) tank integrity tests
3) negative pressure test
, 4) probe test - Answer-soil borings
When appraising a property that is subject to environmental
contamination, Fannie Mae requires an appraiser to note the hazardous
condition in the appraisal report, comment on any influence the hazard
has on value and marketability, and:
1) Report the hazard to the local code enforcement agency
2) Note on the report that the property is "ineligible for a GSE loan"
3) Make appropriate adjustments in analyzing the property's value
4) Use a minimum of three comparable sales subject to the same hazard
- Answer-Make appropriate adjustments in analyzing the property's
value
What does Fannie Mae expect from an appraiser regarding
identification of environmental hazards?
1) The appraiser is an expert in identifying environmental hazards and is
expected to perform as such
2) Note any adverse conditions that were observed during the inspection
or during research
3) Every property has at least one potential environmental hazard, and it
is the appraiser's job to find it
4) The appraiser must inspect the property for hidden and unapparent
environmental hazards - Answer-Note any adverse conditions that were
observed during the inspection or during research
Nationwide Permits are now required for projects impacting as little as
_______ of wetlands.
