CERTIFIED PENNSYLVANIA EVALUATOR
(CPE ACTUAL EXAM PAPER 2026
QUESTIONS WITH ANSWERS GRADED A+
• GMRM/GRM (Gross Rent Multiplier).
Answer: Relationship between monthly rental income and the value of
property
• Excess Rent.
Answer: The dollar amount received in the contract rent that is over and
above market or economic rent
• What is the proper name for the acronym USPAP?.
Answer: Uniform Standards of Professional Appraisal Practice.
• Property.
Answer: Can be tangible or intangible, and can be real or personal
• General Categories of Data Collected.
Answer: General, specific, comparative
• GIM (gross income multiplier).
Answer: Property value or selling price/gross income at time of sale
• March 17, 1992.
Answer: The responsibility to certify assessors shifted from the State Tax
Equalization Board to the State Board of Certified Real Estate Appraisers.
• Listing/Inventorying.
Answer: You record the property components and description for future
reference
• 5 years after preparation and 2 years after disposition.
Answer: How long must an appraiser retain their work file?
• Topography, Soil, Natural Barriers, and Transportation Systems are all
, included in what force that affects value?.
Answer: Physical
• What are the 4 methods that land is described as?.
Answer: Rectangular Survey, Lot and Block, Meets and Bounds, State Plain
Coordinate System
• How many hours of continuing ed must you receive to be recertified?.
Answer: 28 hours
• growth, stability, decline, rehabilitation.
Answer: life cycle of a neighborhood
• gross rental lease.
Answer: lease agreement by which the lessor (land lord) pays most, or all
the operating expenses
• The 100% potential gross income, minus allowance for vacancy and rent
loss, plus other income (if any).
Answer: effective gross income
• Tangible Property.
Answer: Can be seen and touched. Consists of actual physical things.
• lot & block.
Answer: method used in the US and Canada to locate and identify land,
particularly for lots in densely populated metropolitan areas, suburban areas
ex: lot no 184 in section 15 of the survey
• Mortgagor.
Answer: Person who takes out mortgage
• When does certification begin?.
Answer: July 1st of every odd number year
• replacement cost.
Answer: producing building or improvement having the same utility, but
using modern materials, design and workmanship
,• 2.
Answer: How many credit hours does an assessor need on Act 28 to
recertify every two years?
• Title 53 Purdons.
Answer: The volume that has pertinent court cases and taxation laws for
Pennsylvania assessment.
• Mean.
Answer: arithmetic average. The sum of variates divided by the number of
variates
• What is the highest degree of ownership?.
Answer: Fee Simple Title
• Labor and material AKA Hard Costs sticks & bricks & labor to install.
Answer: Direct Costs
• By what department of the state is the state board of certified real estate
appraisers governed by?.
Answer: Department of State
• Appraisal Standards Board.
Answer: Who created USPAP
• What is the order of the highest and best use analysis? (HAS TO BE IN
THIS ORDER).
Answer: Physically Possible, Legally Permissible, Financially Feasible,
Maximum Production or Generates the Greatest Profit.
• ASB.
Answer: Appraisal Standards Board
• Used with Irregular shape parcels and when frontage is not a dominating
factor in valuation. Used to value small industrial, residential and
commercial sites..
Answer: square foot
• the combining of two or more parcels, usually but not necessarily
, contiguous, into one or more ownership or use. Process to create plottage.
Answer: assemblage
• What are the 3 approaches to value?.
Answer: Cost, Sales, Income
• Expense Stop.
Answer: Landlord (lessor) pays until a certain amount
• Personal Property.
Answer: Moveable items not permanently affixed to, or part of, the real
estate
• Value.
Answer: The present worth of future benefits arising from the ownership of
real property
• The state board certification body.
Answer: State Board of Certified Real Estate Appraisers
• To be certified by the State Board of Certified Real Estate Appraisers, the
assessor must:.
Answer: 1. Possess a high school diploma, or its equivalent, or two years of
assessing experience 2. Shall be at least 18 years of age 3. Shall be a
resident of this Commonwealth for at least six months 4. Successfully
completed a minimum of 90 hours of the basic course of study of the
International Association of Assessing Officers (IAO) or the Assessors
Association of Pennsylvania (AAP) 5. This act does not apply to counties of
the First Class (Philadelphia Counties)
• Cannot be seen or touched; it is evidence of ownership rights. Examples:
stocks, bonds, mortgages and copy rights...rights you have as a owner..
Answer: Intangible Property
• Taxation.
Answer: The right to tax property for the support of the government
• Assessor.
(CPE ACTUAL EXAM PAPER 2026
QUESTIONS WITH ANSWERS GRADED A+
• GMRM/GRM (Gross Rent Multiplier).
Answer: Relationship between monthly rental income and the value of
property
• Excess Rent.
Answer: The dollar amount received in the contract rent that is over and
above market or economic rent
• What is the proper name for the acronym USPAP?.
Answer: Uniform Standards of Professional Appraisal Practice.
• Property.
Answer: Can be tangible or intangible, and can be real or personal
• General Categories of Data Collected.
Answer: General, specific, comparative
• GIM (gross income multiplier).
Answer: Property value or selling price/gross income at time of sale
• March 17, 1992.
Answer: The responsibility to certify assessors shifted from the State Tax
Equalization Board to the State Board of Certified Real Estate Appraisers.
• Listing/Inventorying.
Answer: You record the property components and description for future
reference
• 5 years after preparation and 2 years after disposition.
Answer: How long must an appraiser retain their work file?
• Topography, Soil, Natural Barriers, and Transportation Systems are all
, included in what force that affects value?.
Answer: Physical
• What are the 4 methods that land is described as?.
Answer: Rectangular Survey, Lot and Block, Meets and Bounds, State Plain
Coordinate System
• How many hours of continuing ed must you receive to be recertified?.
Answer: 28 hours
• growth, stability, decline, rehabilitation.
Answer: life cycle of a neighborhood
• gross rental lease.
Answer: lease agreement by which the lessor (land lord) pays most, or all
the operating expenses
• The 100% potential gross income, minus allowance for vacancy and rent
loss, plus other income (if any).
Answer: effective gross income
• Tangible Property.
Answer: Can be seen and touched. Consists of actual physical things.
• lot & block.
Answer: method used in the US and Canada to locate and identify land,
particularly for lots in densely populated metropolitan areas, suburban areas
ex: lot no 184 in section 15 of the survey
• Mortgagor.
Answer: Person who takes out mortgage
• When does certification begin?.
Answer: July 1st of every odd number year
• replacement cost.
Answer: producing building or improvement having the same utility, but
using modern materials, design and workmanship
,• 2.
Answer: How many credit hours does an assessor need on Act 28 to
recertify every two years?
• Title 53 Purdons.
Answer: The volume that has pertinent court cases and taxation laws for
Pennsylvania assessment.
• Mean.
Answer: arithmetic average. The sum of variates divided by the number of
variates
• What is the highest degree of ownership?.
Answer: Fee Simple Title
• Labor and material AKA Hard Costs sticks & bricks & labor to install.
Answer: Direct Costs
• By what department of the state is the state board of certified real estate
appraisers governed by?.
Answer: Department of State
• Appraisal Standards Board.
Answer: Who created USPAP
• What is the order of the highest and best use analysis? (HAS TO BE IN
THIS ORDER).
Answer: Physically Possible, Legally Permissible, Financially Feasible,
Maximum Production or Generates the Greatest Profit.
• ASB.
Answer: Appraisal Standards Board
• Used with Irregular shape parcels and when frontage is not a dominating
factor in valuation. Used to value small industrial, residential and
commercial sites..
Answer: square foot
• the combining of two or more parcels, usually but not necessarily
, contiguous, into one or more ownership or use. Process to create plottage.
Answer: assemblage
• What are the 3 approaches to value?.
Answer: Cost, Sales, Income
• Expense Stop.
Answer: Landlord (lessor) pays until a certain amount
• Personal Property.
Answer: Moveable items not permanently affixed to, or part of, the real
estate
• Value.
Answer: The present worth of future benefits arising from the ownership of
real property
• The state board certification body.
Answer: State Board of Certified Real Estate Appraisers
• To be certified by the State Board of Certified Real Estate Appraisers, the
assessor must:.
Answer: 1. Possess a high school diploma, or its equivalent, or two years of
assessing experience 2. Shall be at least 18 years of age 3. Shall be a
resident of this Commonwealth for at least six months 4. Successfully
completed a minimum of 90 hours of the basic course of study of the
International Association of Assessing Officers (IAO) or the Assessors
Association of Pennsylvania (AAP) 5. This act does not apply to counties of
the First Class (Philadelphia Counties)
• Cannot be seen or touched; it is evidence of ownership rights. Examples:
stocks, bonds, mortgages and copy rights...rights you have as a owner..
Answer: Intangible Property
• Taxation.
Answer: The right to tax property for the support of the government
• Assessor.
