Certified General Appraiser Latest Exam Prep Test
Bank 1 with 610 Questions and Correct Verified
Answers with Rationales/ 2026-2027 Newest Prep Test
Bank for Certified General Appraiser Exam
an appraiser has accepted an assignment that requires travel to a geographic area
where the appraiser has no recent experience. without spending sufficient time to
understand the nuances of the local market and the supply and demand factors
relating to the specific property type and location involved violates:
a. departure provisions.
b. competency provisions.
c. economic provisions.
d. locational provisions. - correct answer: b
this appraiser would violate the competency rule of uspap.
a $27,000 mortgage loan at 11 percent interest is granted. the loan amortizes
monthly with a payment of $257.13. what part of the third month's payment is
principal?
a. $9.63
b. $9.71
c. $9.80
d. $9.89 - correct answer: c
1
,11gi
27,000 pv
257.13 chs pmt
n = 360
1f amort (interest 1st month)
1f amort (interest 2nd month)
1f amort (interest 3rd month)
x<>y = 9.80
in which of the following appraisal techniques is the income attributed to the
improvements deducted from total net operating income?
a. land residual.
b. building residual.
c. allocation.
d. extraction. - correct answer: a
subtracting improvement income from net operating income leaves residual land
income.
a mortgage loan in the amount of $70,000 has been granted. the loan amortizes
monthly with equal payments. the first year's payment of principal was $120. what
percentage of the principal balance was paid during the first year?
a. .17%
b. .92%
c. 2.01%
2
,d. 3.33% - correct answer: a
,000 = .001714286
an appraiser is unable to locate comparable land sales, however, sales of improved
properties are plentiful. which of the following appraisal techniques is appropriate?
a. allocation.
b. anticipated use.
c. subdivision development.
d. ideal neighborhood. - correct answer: a
allocation uses a percentage of land value to total property value multiplied by the
comparable sale price to identify the portion of the sale price that represents land
value. this land value becomes an artificially created land sale to be used in sales
comparison.
which is correct regarding mortgage insurance (mip)?
a. insures veterans in default on mortgage obligations.
b. insures the top 20% of the loan.
c. insures the borrower in the event of death.
d. increases yield on federally related financing. - correct answer: b
mortgage insurance insures lenders who have accepted a high level of risk in loan
origination.
3
, building codes require construction in a subdivision sufficient to withstand
hurricane-force winds up to 120 mph. actual construction is sufficient to withstand
wind speeds up to 200 mph. this construction represents:
a. external obsolescence.
b. physical obsolescence.
c. functional superadequacy.
d. environmental obsolescence. - correct answer: c
the excessive construction represents a superadequacy. superadequacies are items
of functional obsolecence.
an examination of which of the following will generally indicate the approximate
sale price of a property?
a. property card.
b. documentary taxes on the deed.
c. writing on the deed.
d. assessment roll. - correct answer: b
documentary taxes are paid based on the sale price at a rate of .70 per $100.
which of the following is descriptive of ownership of a timeshare?
a. ownership of stock in a corporation, occupancy by means of a proprietary lease.
b. estate for years with a later tenancy in common.
c. title for a specific part of a year.
4
Bank 1 with 610 Questions and Correct Verified
Answers with Rationales/ 2026-2027 Newest Prep Test
Bank for Certified General Appraiser Exam
an appraiser has accepted an assignment that requires travel to a geographic area
where the appraiser has no recent experience. without spending sufficient time to
understand the nuances of the local market and the supply and demand factors
relating to the specific property type and location involved violates:
a. departure provisions.
b. competency provisions.
c. economic provisions.
d. locational provisions. - correct answer: b
this appraiser would violate the competency rule of uspap.
a $27,000 mortgage loan at 11 percent interest is granted. the loan amortizes
monthly with a payment of $257.13. what part of the third month's payment is
principal?
a. $9.63
b. $9.71
c. $9.80
d. $9.89 - correct answer: c
1
,11gi
27,000 pv
257.13 chs pmt
n = 360
1f amort (interest 1st month)
1f amort (interest 2nd month)
1f amort (interest 3rd month)
x<>y = 9.80
in which of the following appraisal techniques is the income attributed to the
improvements deducted from total net operating income?
a. land residual.
b. building residual.
c. allocation.
d. extraction. - correct answer: a
subtracting improvement income from net operating income leaves residual land
income.
a mortgage loan in the amount of $70,000 has been granted. the loan amortizes
monthly with equal payments. the first year's payment of principal was $120. what
percentage of the principal balance was paid during the first year?
a. .17%
b. .92%
c. 2.01%
2
,d. 3.33% - correct answer: a
,000 = .001714286
an appraiser is unable to locate comparable land sales, however, sales of improved
properties are plentiful. which of the following appraisal techniques is appropriate?
a. allocation.
b. anticipated use.
c. subdivision development.
d. ideal neighborhood. - correct answer: a
allocation uses a percentage of land value to total property value multiplied by the
comparable sale price to identify the portion of the sale price that represents land
value. this land value becomes an artificially created land sale to be used in sales
comparison.
which is correct regarding mortgage insurance (mip)?
a. insures veterans in default on mortgage obligations.
b. insures the top 20% of the loan.
c. insures the borrower in the event of death.
d. increases yield on federally related financing. - correct answer: b
mortgage insurance insures lenders who have accepted a high level of risk in loan
origination.
3
, building codes require construction in a subdivision sufficient to withstand
hurricane-force winds up to 120 mph. actual construction is sufficient to withstand
wind speeds up to 200 mph. this construction represents:
a. external obsolescence.
b. physical obsolescence.
c. functional superadequacy.
d. environmental obsolescence. - correct answer: c
the excessive construction represents a superadequacy. superadequacies are items
of functional obsolecence.
an examination of which of the following will generally indicate the approximate
sale price of a property?
a. property card.
b. documentary taxes on the deed.
c. writing on the deed.
d. assessment roll. - correct answer: b
documentary taxes are paid based on the sale price at a rate of .70 per $100.
which of the following is descriptive of ownership of a timeshare?
a. ownership of stock in a corporation, occupancy by means of a proprietary lease.
b. estate for years with a later tenancy in common.
c. title for a specific part of a year.
4
