BASIC APPRAISAL PROCEDURES EXAM
QUESTIONS WITH CORRECT ANSWERS 2026
"The estimated cost to construct, at current prices as of the effective appraisal date, an exact du
plicate or replica of the building being appraised, using the same materials..." is the definition of
cost. - CORRECT ANSWER -reproduction
Footings need to be below average frost penetration levels. -
CORRECT ANSWER -at least 12 inches
GRMs are derived by dividing the by the property's at the time of sale
. - CORRECT ANSWER -sale price, gross monthly unfurnished market rent
The Fannie Mae Single Family Comparable Rent Schedule is designated as Form -
CORRECT ANSWER -1007
"A condition, directly related to a specific assignment, which is contrary to what is known by the
appraiser to exist on the effective date of the assignment results, but is used for the purpose of a
nalysis" is the definition of - CORRECT ANSWER -hypothetical condition
What type of framing became popular in the 1800s with the advent of the steam-
powered sawmill? - CORRECT ANSWER -balloon frame
When estimating the amount of adjustments for differences among properties, the most import
ant principle is the principle of . - CORRECT ANSWER -contribution
A home has a permanent steel chassis, wheels and axles. -
CORRECT ANSWER -manufactured
An expansion tankPis part of a heating system. - CORRECT ANSWER -hot water
, When describing roofingPshingles, a "square" contains square feet. -
CORRECT ANSWER -100
The most commonly used approach for valuing sites is the approach. -
CORRECT ANSWER -sales comparison
J-bolts are used to anchor the to the . - CORRECT ANSWER -
sill plate, foundation
"The amount and type of information researched and the analysis applied in an assignment" is t
he definition of - CORRECT ANSWER -scope of work
GLA includes but not . - CORRECT ANSWER -
above grade finished area, garages
The most common heating systems in residential construction today are - CORRECT ANSWER -
forced warm air
EIFS is also known asP- CORRECT ANSWER -synthetic stucco
Which cost estimating method is the most detailed and time-consuming to develop? -
CORRECT ANSWER -quantity survey
Segregated cost method is another name for the method. - CORRECT ANSWER -unit-
in-place
The cost estimating method most commonly used by residential appraisers is the
method. - CORRECT ANSWER -comparative-unit
QUESTIONS WITH CORRECT ANSWERS 2026
"The estimated cost to construct, at current prices as of the effective appraisal date, an exact du
plicate or replica of the building being appraised, using the same materials..." is the definition of
cost. - CORRECT ANSWER -reproduction
Footings need to be below average frost penetration levels. -
CORRECT ANSWER -at least 12 inches
GRMs are derived by dividing the by the property's at the time of sale
. - CORRECT ANSWER -sale price, gross monthly unfurnished market rent
The Fannie Mae Single Family Comparable Rent Schedule is designated as Form -
CORRECT ANSWER -1007
"A condition, directly related to a specific assignment, which is contrary to what is known by the
appraiser to exist on the effective date of the assignment results, but is used for the purpose of a
nalysis" is the definition of - CORRECT ANSWER -hypothetical condition
What type of framing became popular in the 1800s with the advent of the steam-
powered sawmill? - CORRECT ANSWER -balloon frame
When estimating the amount of adjustments for differences among properties, the most import
ant principle is the principle of . - CORRECT ANSWER -contribution
A home has a permanent steel chassis, wheels and axles. -
CORRECT ANSWER -manufactured
An expansion tankPis part of a heating system. - CORRECT ANSWER -hot water
, When describing roofingPshingles, a "square" contains square feet. -
CORRECT ANSWER -100
The most commonly used approach for valuing sites is the approach. -
CORRECT ANSWER -sales comparison
J-bolts are used to anchor the to the . - CORRECT ANSWER -
sill plate, foundation
"The amount and type of information researched and the analysis applied in an assignment" is t
he definition of - CORRECT ANSWER -scope of work
GLA includes but not . - CORRECT ANSWER -
above grade finished area, garages
The most common heating systems in residential construction today are - CORRECT ANSWER -
forced warm air
EIFS is also known asP- CORRECT ANSWER -synthetic stucco
Which cost estimating method is the most detailed and time-consuming to develop? -
CORRECT ANSWER -quantity survey
Segregated cost method is another name for the method. - CORRECT ANSWER -unit-
in-place
The cost estimating method most commonly used by residential appraisers is the
method. - CORRECT ANSWER -comparative-unit
