APPRAISAL METHODS
PRACTICE EXAM
2026/2027 VERSION
WITH QUALITY
QUESTIONS AND
VERIFIED ANSWERS
100% CORRECT WITH
RATIONALES AND PDF
DOWNLOAD.
,1. The sales comparison approach
estimates value primarily based on:
A. Replacement cost
B. Comparable property sales
C. Rental income
D. Depreciation schedules
Answer: B
Rationale: It compares recent sales of
similar properties to determine value.
2. Which adjustment is MOST
commonly made in the sales
comparison approach?
A. Tax adjustment
B. Financing adjustment
C. Depreciation adjustment
,D. Insurance adjustment
Answer: B
Rationale: Adjustments are made for
financing differences like cash vs.
mortgage terms.
3. The best comparable properties are
those that are:
A. In different cities
B. Recently renovated only
C. Similar and recently sold
D. Older than subject property
Answer: C
Rationale: Similar, recent sales provide
the most accurate comparison.
, 4. Which factor is least important in
selecting comparables?
A. Location
B. Size
C. Color of paint
D. Age
Answer: C
Rationale: Cosmetic features like paint
color do not affect valuation significantly.
5. The principle underlying the sales
comparison approach is:
A. Substitution
B. Supply and demand
PRACTICE EXAM
2026/2027 VERSION
WITH QUALITY
QUESTIONS AND
VERIFIED ANSWERS
100% CORRECT WITH
RATIONALES AND PDF
DOWNLOAD.
,1. The sales comparison approach
estimates value primarily based on:
A. Replacement cost
B. Comparable property sales
C. Rental income
D. Depreciation schedules
Answer: B
Rationale: It compares recent sales of
similar properties to determine value.
2. Which adjustment is MOST
commonly made in the sales
comparison approach?
A. Tax adjustment
B. Financing adjustment
C. Depreciation adjustment
,D. Insurance adjustment
Answer: B
Rationale: Adjustments are made for
financing differences like cash vs.
mortgage terms.
3. The best comparable properties are
those that are:
A. In different cities
B. Recently renovated only
C. Similar and recently sold
D. Older than subject property
Answer: C
Rationale: Similar, recent sales provide
the most accurate comparison.
, 4. Which factor is least important in
selecting comparables?
A. Location
B. Size
C. Color of paint
D. Age
Answer: C
Rationale: Cosmetic features like paint
color do not affect valuation significantly.
5. The principle underlying the sales
comparison approach is:
A. Substitution
B. Supply and demand
