CERTIFIED PENNSYLVANIA EVALUATOR
(CPE FINAL TEST 2026 QUESTIONS WITH
CORRECT ANSWERS GRADED A+
• PEGS.
Answer: 4 great factors that influence real estate value
• How is depreciation calculated?.
Answer: Effective Age ÷ Economic life
• Break down the mandated hours..
Answer: 7 hours USPAP and 2 Hours of Act 28
• Bundle of Rights.
Answer: S- Sell L- Lease U-Use G-Give away E-Enter/leave R-Refuse to do
anything
• Five attributes of land.
Answer: 1. Is permanent and durable 2. Is unique in both location and
composition 3. there is a finite supply 4. functional 5. stationary
• Principle of Conformity.
Answer: Maximum market value is attained when there is a reasonable
amount of social and economic similarity in a neighborhood. Example: if a
neighborhood is predominantly well kept and two story Victorian homes
with one small fair condition ranch style house in the middle of the
neighborhood, the ranch style house will not achieve maximum market
value.
• Types of data collected.
Answer: Primary- Personally collected Secondary- Data obtained from
another source of 3rd party.
• Trend.
Answer: A series of changes that can be identified
,• act 28 of 1992.
Answer: The act the certified assessors
• unit-in-place.
Answer: segregated cost dollar amount to do plumbing system/electrical
system estimate
• a tract of land which has been divided into smaller pieces ( called lots),
usually for the purpose of constructing residences which will be sold
individually. Principle of Conformity.
Answer: subdivision
• 72 Purdons Section 5020 through 6212.
Answer: Pennsylvania statutes regarding assessments and taxation
• 7 Steps in the appraisal process.
Answer: 1. Define the problem 2. identify the scope of work 3. preliminary
survey and planning 4. data collections and analysis 5. highest and best use
analysis 6. application of the date and the approaches to value 7.
reconciliation
• Quit Claim Deed.
Answer: The deed by which the grantor conveys only the interest he or she
may have in the property
• The tangible part of property is... real estate, real property, both, neither?.
Answer: - Real Estate
• Principle of Contribution.
Answer: Most closely related to the adjustments of the comparable during
the sales comparison approach, because the amount of the adjustment is its
contributory value to the total property rather than its cost
• Desirability.
Answer: A desire and means to own the property
• economic rent.
Answer: the rental income that property should command on the open
, market
• Implies that the value of a property is set by cost of acquiring an equally
useful and desirable substitute, providing no costly delay is experienced. No
prudent buyer would pay more for a property when he could purchase an
equally useful and desirable substitute, as long as he wasn't delayed in doing
so. Serves as the basis for cost, sales comparison and income--the
approaches to value..
Answer: Principle of Substitution
• Deed.
Answer: A written document under seal conveying real estate. Types:
Warranty and Quit Claim
• Quantity, quality and duration.
Answer: The assessor evaluates the income stream in terms of what??
• Principle of Conformity.
Answer: Maximum market value is attained when there is a reasonable
amount of social and economic similarity in a neighborhood. Example: if a
neighborhood is predominantly well kept and two story Victorian homes
with one small fair condition ranch style house in the middle of the
neighborhood, the ranch style house will not achieve maximum market
value.
• Life cycle of a neighborhood.
Answer: 1. Growth 2. Stability 3. Decline 4. Rehab
• 28.
Answer: How may hours does an assessor need to recertify?
• entrepreneurial profit.
Answer: investor or entrepreneur receives money for contribution to the
project and risk; the difference between the total cost of a property (cost of
development) and its market value (property value after completion) what
profit is from project vs what I actually put in my pocket
, • What is mean?.
Answer: Is the average of numbers.
• Agents of Production.
Answer: 1. Labor 2. Management 3. Capital 4. Land
• comparative unit.
Answer: cost per square foot least accurate
• General Data.
Answer: General trends that will affect the value of the subject on a regional
and neighborhood basis. The four great forces on the subject. Examines
PEGS & entire neighborhood
• Approaches to value used exclusively for land.
Answer: market and income
• Vacancy and rent loss.
Answer: the most probable loss due to periods of vacancy based on
experience of the subject property and or competitive properties, expressed
as a percentage against potential gross income
• What is the last day to file an annual appeal?.
Answer: September 1
• lessee.
Answer: person or tenant given the right to use through a lease document
• Which type of data consists principally of site and improvement data?.
Answer: Specific
• Assessors Certification Date.
Answer: November 15th
• Duties and Responsibilities of an Assessor.
Answer: Discovering, Listing, Valuing
• Expense Cap.
Answer: Tenant (lessee) pays until a certain amount
(CPE FINAL TEST 2026 QUESTIONS WITH
CORRECT ANSWERS GRADED A+
• PEGS.
Answer: 4 great factors that influence real estate value
• How is depreciation calculated?.
Answer: Effective Age ÷ Economic life
• Break down the mandated hours..
Answer: 7 hours USPAP and 2 Hours of Act 28
• Bundle of Rights.
Answer: S- Sell L- Lease U-Use G-Give away E-Enter/leave R-Refuse to do
anything
• Five attributes of land.
Answer: 1. Is permanent and durable 2. Is unique in both location and
composition 3. there is a finite supply 4. functional 5. stationary
• Principle of Conformity.
Answer: Maximum market value is attained when there is a reasonable
amount of social and economic similarity in a neighborhood. Example: if a
neighborhood is predominantly well kept and two story Victorian homes
with one small fair condition ranch style house in the middle of the
neighborhood, the ranch style house will not achieve maximum market
value.
• Types of data collected.
Answer: Primary- Personally collected Secondary- Data obtained from
another source of 3rd party.
• Trend.
Answer: A series of changes that can be identified
,• act 28 of 1992.
Answer: The act the certified assessors
• unit-in-place.
Answer: segregated cost dollar amount to do plumbing system/electrical
system estimate
• a tract of land which has been divided into smaller pieces ( called lots),
usually for the purpose of constructing residences which will be sold
individually. Principle of Conformity.
Answer: subdivision
• 72 Purdons Section 5020 through 6212.
Answer: Pennsylvania statutes regarding assessments and taxation
• 7 Steps in the appraisal process.
Answer: 1. Define the problem 2. identify the scope of work 3. preliminary
survey and planning 4. data collections and analysis 5. highest and best use
analysis 6. application of the date and the approaches to value 7.
reconciliation
• Quit Claim Deed.
Answer: The deed by which the grantor conveys only the interest he or she
may have in the property
• The tangible part of property is... real estate, real property, both, neither?.
Answer: - Real Estate
• Principle of Contribution.
Answer: Most closely related to the adjustments of the comparable during
the sales comparison approach, because the amount of the adjustment is its
contributory value to the total property rather than its cost
• Desirability.
Answer: A desire and means to own the property
• economic rent.
Answer: the rental income that property should command on the open
, market
• Implies that the value of a property is set by cost of acquiring an equally
useful and desirable substitute, providing no costly delay is experienced. No
prudent buyer would pay more for a property when he could purchase an
equally useful and desirable substitute, as long as he wasn't delayed in doing
so. Serves as the basis for cost, sales comparison and income--the
approaches to value..
Answer: Principle of Substitution
• Deed.
Answer: A written document under seal conveying real estate. Types:
Warranty and Quit Claim
• Quantity, quality and duration.
Answer: The assessor evaluates the income stream in terms of what??
• Principle of Conformity.
Answer: Maximum market value is attained when there is a reasonable
amount of social and economic similarity in a neighborhood. Example: if a
neighborhood is predominantly well kept and two story Victorian homes
with one small fair condition ranch style house in the middle of the
neighborhood, the ranch style house will not achieve maximum market
value.
• Life cycle of a neighborhood.
Answer: 1. Growth 2. Stability 3. Decline 4. Rehab
• 28.
Answer: How may hours does an assessor need to recertify?
• entrepreneurial profit.
Answer: investor or entrepreneur receives money for contribution to the
project and risk; the difference between the total cost of a property (cost of
development) and its market value (property value after completion) what
profit is from project vs what I actually put in my pocket
, • What is mean?.
Answer: Is the average of numbers.
• Agents of Production.
Answer: 1. Labor 2. Management 3. Capital 4. Land
• comparative unit.
Answer: cost per square foot least accurate
• General Data.
Answer: General trends that will affect the value of the subject on a regional
and neighborhood basis. The four great forces on the subject. Examines
PEGS & entire neighborhood
• Approaches to value used exclusively for land.
Answer: market and income
• Vacancy and rent loss.
Answer: the most probable loss due to periods of vacancy based on
experience of the subject property and or competitive properties, expressed
as a percentage against potential gross income
• What is the last day to file an annual appeal?.
Answer: September 1
• lessee.
Answer: person or tenant given the right to use through a lease document
• Which type of data consists principally of site and improvement data?.
Answer: Specific
• Assessors Certification Date.
Answer: November 15th
• Duties and Responsibilities of an Assessor.
Answer: Discovering, Listing, Valuing
• Expense Cap.
Answer: Tenant (lessee) pays until a certain amount
