CERTIFIED PENNSYLVANIA EVALUATOR
(CPE PRACTICE EXAMINATION 2026
QUESTIONS WITH ANSWERS GRADED A+
• What are the 4 great factors that affect value?.
Answer: Physical, Economical, Governmental, Social
• For property to have value it must have what?.
Answer: Utility, Scarcity, Desirability
• Trended historical cost.
Answer: historical cost factored by reference to some current index for
property components
• Which type of data consists of cost, recent sales, and income information?.
Answer: Comparative
• Assessment.
Answer: Base Year Market Value X Predetermined Ratio=
• Levels of appeal process.
Answer: 1. County Board of Assessment Appeals, 2. Court of Common
Pleas of Pennsylvania, 3.Commonwealth Court of Pennsylvania, 4.Superior
Court of Pennsylvania
• Eminent Domain.
Answer: What is the right to take land for public use provided that just
compensation is paid?
• Workfile must include the following:.
Answer: 1. Name of the client and the identity, by name or type, of any
intended users 2. True copies of any written reports, documents on any type
of media 3. Summaries of any oral reports or testimony, or a transcript of
testimony, including the appraiser's signed and dated certification 4. All
other date, information, and documentation necessary to support the
, appraiser's opinions and conclusions and to show compliance with this Rule
and all other applicable Standers, or references to the location(s) of such
other
• Ad valorem.
Answer: At value. The ad valorem tax is one which is based on the value of
tangible and intangible property.
• Define Market Value..
Answer: The most probable price which a property should bring in a
competitive and open market under all conditions.
• Life cycle of a neighborhood.
Answer: 1. Growth 2. Stability 3. Decline 4. Rehab
• R Value.
Answer: What do you use to measure insulation heat loss
• Real Property.
Answer: Sum of the tangible and intangible rights in lands and
improvements to land. It refers to the interest, benefits and rights inherent in
the ownership of physical real estate.
• What are the 4 public limitations on your rights?.
Answer: Police Power, Escheat, Taxation, Eminent Domain
• Principle of Substitution.
Answer: 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.
• Rectangular survey.
Answer: Most popular way land is described west of the Ohio river
• typical adjustments in sales comparison approach.
, Answer: Adjust sales prices of comparable properties to subject. (Funny
Children That Love People) F- Financing Seller finances at interest rate
above or below market would need to be adjusted C- Condition Property
condition is different today compared to date of sale T- Time When market
value increases or decreases over the time period between the sale of the
comparable and the date of appraisal L-Location The physical location of
the comparable P- Physical Characteristics lot size, topography, and shape
• Article VIII Section 1.
Answer: This is known as the uniformity clause of the Pennsylvania
constitution. Provides that all persons and property (tangible and intangible)
be assessed and taxed uniformly as a class. Uniformity!
• Utility.
Answer: Subjective quality of property to instill a desire in someone's mind
to own it.
• Secondary Data.
Answer: Data obtained from another source of 3rd party.
• crime, population densities and characteristics of the residents.
Answer: Social Forces
• Assessors are charged with the responsibility of administering what?.
Answer: A uniform and equitable assessment system
• Philadelphia (First-Class County).
Answer: Certification requirements impact every county, except for this one.
• Base Year Market Value X Predetermined Ratio=.
Answer: Assessment
• Intestate.
Answer: A person who dies having made no will.
• Appraisal Process.
Answer: a systematic, logical method of collecting, analyzing and
processing data into an intelligent, well-reasoned value estimate
, • escalation clause.
Answer: helps landlord offset increases in operating expenses.
• STEB must certify to all assessment Office their CLR's by which date?.
Answer: July 1st
• 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
• Real Estate.
Answer: What is land and permanently attached to it?
• Personal Property.
Answer: Moveable items not permanently affixed to, or part of, the real
estate
• Rectangular survey.
Answer: Most popular way land is described west of the Ohio river
• Last day to apply for the Homestead/Farmstead Exclusion.
Answer: March 1st
• Assessors are charged with the responsibility of administering what?.
Answer: A uniform and equitable assessment system
• Value in use.
Answer: C & G, Act 319. The amount of money an economic good is worth
to its owner considering its productivity. This may or may not represent
market value.
• Rectangular survey.
Answer: Most popular way land is described west of the Ohio river
• As assessment office must have which legally required materials readily
available and easily accessible to the public?.
Answer: 1. property record cards 2. maps 3. Tax duplicates 4. alphabetical
index
(CPE PRACTICE EXAMINATION 2026
QUESTIONS WITH ANSWERS GRADED A+
• What are the 4 great factors that affect value?.
Answer: Physical, Economical, Governmental, Social
• For property to have value it must have what?.
Answer: Utility, Scarcity, Desirability
• Trended historical cost.
Answer: historical cost factored by reference to some current index for
property components
• Which type of data consists of cost, recent sales, and income information?.
Answer: Comparative
• Assessment.
Answer: Base Year Market Value X Predetermined Ratio=
• Levels of appeal process.
Answer: 1. County Board of Assessment Appeals, 2. Court of Common
Pleas of Pennsylvania, 3.Commonwealth Court of Pennsylvania, 4.Superior
Court of Pennsylvania
• Eminent Domain.
Answer: What is the right to take land for public use provided that just
compensation is paid?
• Workfile must include the following:.
Answer: 1. Name of the client and the identity, by name or type, of any
intended users 2. True copies of any written reports, documents on any type
of media 3. Summaries of any oral reports or testimony, or a transcript of
testimony, including the appraiser's signed and dated certification 4. All
other date, information, and documentation necessary to support the
, appraiser's opinions and conclusions and to show compliance with this Rule
and all other applicable Standers, or references to the location(s) of such
other
• Ad valorem.
Answer: At value. The ad valorem tax is one which is based on the value of
tangible and intangible property.
• Define Market Value..
Answer: The most probable price which a property should bring in a
competitive and open market under all conditions.
• Life cycle of a neighborhood.
Answer: 1. Growth 2. Stability 3. Decline 4. Rehab
• R Value.
Answer: What do you use to measure insulation heat loss
• Real Property.
Answer: Sum of the tangible and intangible rights in lands and
improvements to land. It refers to the interest, benefits and rights inherent in
the ownership of physical real estate.
• What are the 4 public limitations on your rights?.
Answer: Police Power, Escheat, Taxation, Eminent Domain
• Principle of Substitution.
Answer: 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.
• Rectangular survey.
Answer: Most popular way land is described west of the Ohio river
• typical adjustments in sales comparison approach.
, Answer: Adjust sales prices of comparable properties to subject. (Funny
Children That Love People) F- Financing Seller finances at interest rate
above or below market would need to be adjusted C- Condition Property
condition is different today compared to date of sale T- Time When market
value increases or decreases over the time period between the sale of the
comparable and the date of appraisal L-Location The physical location of
the comparable P- Physical Characteristics lot size, topography, and shape
• Article VIII Section 1.
Answer: This is known as the uniformity clause of the Pennsylvania
constitution. Provides that all persons and property (tangible and intangible)
be assessed and taxed uniformly as a class. Uniformity!
• Utility.
Answer: Subjective quality of property to instill a desire in someone's mind
to own it.
• Secondary Data.
Answer: Data obtained from another source of 3rd party.
• crime, population densities and characteristics of the residents.
Answer: Social Forces
• Assessors are charged with the responsibility of administering what?.
Answer: A uniform and equitable assessment system
• Philadelphia (First-Class County).
Answer: Certification requirements impact every county, except for this one.
• Base Year Market Value X Predetermined Ratio=.
Answer: Assessment
• Intestate.
Answer: A person who dies having made no will.
• Appraisal Process.
Answer: a systematic, logical method of collecting, analyzing and
processing data into an intelligent, well-reasoned value estimate
, • escalation clause.
Answer: helps landlord offset increases in operating expenses.
• STEB must certify to all assessment Office their CLR's by which date?.
Answer: July 1st
• 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
• Real Estate.
Answer: What is land and permanently attached to it?
• Personal Property.
Answer: Moveable items not permanently affixed to, or part of, the real
estate
• Rectangular survey.
Answer: Most popular way land is described west of the Ohio river
• Last day to apply for the Homestead/Farmstead Exclusion.
Answer: March 1st
• Assessors are charged with the responsibility of administering what?.
Answer: A uniform and equitable assessment system
• Value in use.
Answer: C & G, Act 319. The amount of money an economic good is worth
to its owner considering its productivity. This may or may not represent
market value.
• Rectangular survey.
Answer: Most popular way land is described west of the Ohio river
• As assessment office must have which legally required materials readily
available and easily accessible to the public?.
Answer: 1. property record cards 2. maps 3. Tax duplicates 4. alphabetical
index
