RESIDENTIAL SALES COMPARISON AND
INCOME APPROACHES STUDY GUIDE 2026
EXAM QUESTIONS AND CORRECT
SOLUTIONS
● Price of comparable ± adjustments = value of subject Answer: Which
of the following is the sales comparison formula?
● the comparable Answer: The sales comparison process always starts
with:
● direct Answer: The principle of supply and demand states that price
and demand move in a(an) ________ relationship.
● Purchasers and tenants as well as between sellers and landlords
Answer: The principle of competition can be between
● balance (equilibrium) Answer: "The principle that real property value
is created and sustained when contrasting, opposing, or interacting
elements are in a state of equilibrium" is the definition of the principle of
,● tax benefits Answer: In residential properties, anticipated future
benefits are amenities. They may include all of the following EXCEPT
● Price per SF of GLA Answer: Which of the following is NOT a
common unit of comparison when appraising 2-4 unit properties?
● Neighborhood Answer: "A group of complementary land uses; a
congruous grouping of inhabitants, buildings, or business enterprises" is
the definition of
● Economic Answer: Median wages and interest rates would be
categorized as ___________ factors.
● General Data Answer: "Items of information on value influences that
derive from social, economic, governmental, and environment
● usa.gov Answer: A web site that is a portal to over 200 federal
agencies is
● Both actions of appraiser's peers and expectations of intended users
Answer: The "normal course of business" in an area is determined by:
● Want to move up to a larger home Answer: Which of these is LEAST
LIKELY to be considered an atypical motivation to buy or sell?
, ● Cannot be given a numerical value Answer: Qualitative analysis is
used for elements that
● Separately or together Answer: Comparative analysis may employ
quantitative analysis and qualitative analysis
● Trend Answer: "A quantitative technique used to identify and measure
trends in the sale prices of comparable properties; useful when sales data
on highly comparable properties is lacking, but a broad database on
properties with less similar characteristics is available. Market
sensitivity is investigated by testing various factors that influence sale
prices" is the definition of ___________ analysis.
● Qualitative Answer: "The process of accounting for differences (such
as between comparable properties and the subject property) that are not
quantified; may be combined with quantitative analysis" is the definition
of ____________ analysis
● Graphic Analysis Answer: Which of the following is NOT a form of
qualitative analysis?
● Relative comparison Answer: The procedure in which we employ just
plusses and minuses in sales comparison is called ______________
analysis.
INCOME APPROACHES STUDY GUIDE 2026
EXAM QUESTIONS AND CORRECT
SOLUTIONS
● Price of comparable ± adjustments = value of subject Answer: Which
of the following is the sales comparison formula?
● the comparable Answer: The sales comparison process always starts
with:
● direct Answer: The principle of supply and demand states that price
and demand move in a(an) ________ relationship.
● Purchasers and tenants as well as between sellers and landlords
Answer: The principle of competition can be between
● balance (equilibrium) Answer: "The principle that real property value
is created and sustained when contrasting, opposing, or interacting
elements are in a state of equilibrium" is the definition of the principle of
,● tax benefits Answer: In residential properties, anticipated future
benefits are amenities. They may include all of the following EXCEPT
● Price per SF of GLA Answer: Which of the following is NOT a
common unit of comparison when appraising 2-4 unit properties?
● Neighborhood Answer: "A group of complementary land uses; a
congruous grouping of inhabitants, buildings, or business enterprises" is
the definition of
● Economic Answer: Median wages and interest rates would be
categorized as ___________ factors.
● General Data Answer: "Items of information on value influences that
derive from social, economic, governmental, and environment
● usa.gov Answer: A web site that is a portal to over 200 federal
agencies is
● Both actions of appraiser's peers and expectations of intended users
Answer: The "normal course of business" in an area is determined by:
● Want to move up to a larger home Answer: Which of these is LEAST
LIKELY to be considered an atypical motivation to buy or sell?
, ● Cannot be given a numerical value Answer: Qualitative analysis is
used for elements that
● Separately or together Answer: Comparative analysis may employ
quantitative analysis and qualitative analysis
● Trend Answer: "A quantitative technique used to identify and measure
trends in the sale prices of comparable properties; useful when sales data
on highly comparable properties is lacking, but a broad database on
properties with less similar characteristics is available. Market
sensitivity is investigated by testing various factors that influence sale
prices" is the definition of ___________ analysis.
● Qualitative Answer: "The process of accounting for differences (such
as between comparable properties and the subject property) that are not
quantified; may be combined with quantitative analysis" is the definition
of ____________ analysis
● Graphic Analysis Answer: Which of the following is NOT a form of
qualitative analysis?
● Relative comparison Answer: The procedure in which we employ just
plusses and minuses in sales comparison is called ______________
analysis.
