BASIC APPRAISAL PRINCIPLES 105 EXAM
QUESTIONS & CORRECT ANSWERS LATEST 2025
The requirements for state licensed and certified appraisers had their genesis in -
ANSWER-FIRREA
The current requirements for real property appraiser licensing and certification
went into effect on - ANSWER-May 1, 2018
True or False: Every state's appraiser certification examination is different. -
ANSWER-False
True or False: An applicant for Certified General appraiser must possess at least
an associate's degree from an accredited college or university. - ANSWER-False,
an applicant must possess at least a bachelor's degree.
A Licensed or Certified appraiser must take the 7-hour USPAP update course -
ANSWER-Every 2 years
An applicant who wishes to become a Certified Residential appraiser must have
accumulated a minimum of ______ hours of appraiser education. - ANSWER-200
A Certified Residential appraiser needs _____ hours of continuing education per
year to renew their certification. - ANSWER-14
,AQB - ANSWER-(Appraiser Qualifications Board) responsible for establishing the
qualifications for states to follow the licensing, certification, and recertification of
appraisers
FIRREA - ANSWER-Financial Institutions Reform, Recovery, and Enforcement Act
of 1989.
When did basic requirements for state licensed and certified appraisers get their
genesis? - ANSWER-In Title XI of the Financial Institutions Reform, Recovery, and
Enforcement Act (FIRREA).
What falls under the Real Property Appraiser Qualification Criteria? - ANSWER-
Continuing education, examination, experience, qualifying education
What is the purpose of continuing education according to AQB? - ANSWER-To
ensure that appraisers are maintaining and increasing their skill, knowledge, and
competency.
True or False. Some states may add questions based on state laws and
regulations. - ANSWER-True
What is the appraisal process? - ANSWER-1. Analyzing factors that affect value
2. Defining the problem
3. Gathering and analyzing data
4. Applying the appropriate analysis and methodology
5. Arriving at an opinion and correctly reporting the opinion in compliant with
USPAP
, What is USPAP? - ANSWER-Uniform Standards of Profession Appraisal Practice
How many classroom hours do you need to classify as a licensed residential
appraiser? - ANSWER-150 including the 15-hour National USPAP Course and Exam
How many hours of experience do you need to classify as a licensed residential
appraiser? - ANSWER-Minimum of 1,000 hours obtained in no fewer than 6
months
What does the Certified Residential Appraiser classification qualify the appraiser
to do? - ANSWER-Qualifies the appraiser to appraise one to four residential units
without regard to transaction value or complexity
What is the qualifying education a certified residential appraiser applicant must
complete? - ANSWER-Must possess a bachelor's degree from accredited college
or university in any field of study
How many classroom hours must a Certified Residential Appraiser applicant
complete? - ANSWER-300
How many hours of experience must a Certified Residential Appraiser applicant
complete? - ANSWER-Must obtain 3,000 hours of experienced within no fewer
than 18 months; at least 1,500 hours must be in non-residential work.
True or False: Some state agencies employ full-time staff appraisers. - ANSWER-
True
QUESTIONS & CORRECT ANSWERS LATEST 2025
The requirements for state licensed and certified appraisers had their genesis in -
ANSWER-FIRREA
The current requirements for real property appraiser licensing and certification
went into effect on - ANSWER-May 1, 2018
True or False: Every state's appraiser certification examination is different. -
ANSWER-False
True or False: An applicant for Certified General appraiser must possess at least
an associate's degree from an accredited college or university. - ANSWER-False,
an applicant must possess at least a bachelor's degree.
A Licensed or Certified appraiser must take the 7-hour USPAP update course -
ANSWER-Every 2 years
An applicant who wishes to become a Certified Residential appraiser must have
accumulated a minimum of ______ hours of appraiser education. - ANSWER-200
A Certified Residential appraiser needs _____ hours of continuing education per
year to renew their certification. - ANSWER-14
,AQB - ANSWER-(Appraiser Qualifications Board) responsible for establishing the
qualifications for states to follow the licensing, certification, and recertification of
appraisers
FIRREA - ANSWER-Financial Institutions Reform, Recovery, and Enforcement Act
of 1989.
When did basic requirements for state licensed and certified appraisers get their
genesis? - ANSWER-In Title XI of the Financial Institutions Reform, Recovery, and
Enforcement Act (FIRREA).
What falls under the Real Property Appraiser Qualification Criteria? - ANSWER-
Continuing education, examination, experience, qualifying education
What is the purpose of continuing education according to AQB? - ANSWER-To
ensure that appraisers are maintaining and increasing their skill, knowledge, and
competency.
True or False. Some states may add questions based on state laws and
regulations. - ANSWER-True
What is the appraisal process? - ANSWER-1. Analyzing factors that affect value
2. Defining the problem
3. Gathering and analyzing data
4. Applying the appropriate analysis and methodology
5. Arriving at an opinion and correctly reporting the opinion in compliant with
USPAP
, What is USPAP? - ANSWER-Uniform Standards of Profession Appraisal Practice
How many classroom hours do you need to classify as a licensed residential
appraiser? - ANSWER-150 including the 15-hour National USPAP Course and Exam
How many hours of experience do you need to classify as a licensed residential
appraiser? - ANSWER-Minimum of 1,000 hours obtained in no fewer than 6
months
What does the Certified Residential Appraiser classification qualify the appraiser
to do? - ANSWER-Qualifies the appraiser to appraise one to four residential units
without regard to transaction value or complexity
What is the qualifying education a certified residential appraiser applicant must
complete? - ANSWER-Must possess a bachelor's degree from accredited college
or university in any field of study
How many classroom hours must a Certified Residential Appraiser applicant
complete? - ANSWER-300
How many hours of experience must a Certified Residential Appraiser applicant
complete? - ANSWER-Must obtain 3,000 hours of experienced within no fewer
than 18 months; at least 1,500 hours must be in non-residential work.
True or False: Some state agencies employ full-time staff appraisers. - ANSWER-
True
