Basic Appraisal Procedures Exam Questions with Correct Answers 2026 | Real Estate Valuation Test Bank

BASICAPPRAISALPROCEDURES EXAM jk jk jk




QUESTIONS WITH CORRECTANSWERS 2025 jk jk jk jk




"The estimated cost to construct, at current prices as of the effective appraisal date, an exact du
kj jk kj kj jk kj kj jk jk jk kj kj jk kj jk kj




plicate or replica of the building being appraised,using the same materials..." is the definition of
jk jk kj jk kj kj jk kj kj jk kj kj kj jk jk jk




cost. - CORRECT ANSWER -reproduction kj kj jk jk




Footings need to be belowaveragefrostpenetrationlevels.-
jk jk jk jk kj kj kj kj kj




CORRECT ANSWER -at least 12 inches
jk jk jk jk jk jk




GRMs are derived by dividing the jk by the property's
jk jk jk jk jk jk jk jk at the time of sale
jk jk jk jk




. - CORRECT ANSWER -sale price, gross monthly unfurnished market rent
kj jk jk jk kj kj jk jk jk jk




The Fannie Mae Single Family Comparable Rent Schedule isdesignated as Form -
jk jk kj jk kj kj jk jk kj jk jk jk




CORRECT ANSWER -1007 kj kj




"A condition, directly related to a specific assignment, which is contrary to what is known by the
jk jk jk jk jk jk jk jk jk jk jk jk jk jk jk jk




appraiser to exist on the effective date of the assignment results, but is used for the purpose of a
jk kj jk jk jk kj jk kj jk kj kj kj kj kj jk kj kj kj kj




nalysis" is the definition of - CORRECT ANSWER -hypothetical condition
jk jk jk jk jk jk jk jk jk jk




What type of framing became popular in the 1800s with the advent of the steam-
kj jk kj jk jk kj kj jk jk jk jk kj jk kj




powered sawmill? - CORRECT ANSWER -balloon frame
jk jk jk jk jk jk jk




When estimating the amount of adjustments for differences among properties, the most import ant
kj kj kj kj kj kj kj kj kj kj kj kj jk




principle is the principle of
jk . - CORRECT ANSWER -contribution
jk jk jk jk jk jk jk jk jk




A jk home has a permanent steel chassis, wheels and axles. - jk kj kj kj jk jk jk kj jk




CORRECT ANSWER -manufactured
jk jk jk




An expansion tankPis part of a
jk jk jk jk jk jk heating system. - CORRECT ANSWER -hot water jk kj kj kj kj jk

, When describing roofingPshingles, a "square" contains
jk jk jk jk jk jk squarefeet.- kj kj




CORRECT ANSWER -100
jk jk jk




The most commonly used approach for valuing sites is the
jk jk jk jk jk jk jk jk jk jk approach.- kj




CORRECT ANSWER -sales comparison
jk jk jk jk




J-bolts are used to anchor the jk jk jk jk jk jk to the jk jk .-CORRECT ANSWER-
kj kj kj kj




sill plate, foundation
jk jk jk




"The amount and type of information researched and the analysis applied in an assignment" is t he
jk kj jk kj kj jk kj jk jk jk jk jk kj jk jk jk




definition of - CORRECT ANSWER -scope of work
jk jk jk jk jk jk jk jk




GLA includes jk but not jk jk jk .-CORRECT ANSWER -
kj kj kj kj




above grade finished area, garages
jk jk jk jk jk




Themost common heating systems in residentialconstruction today are- CORRECT ANSWER - forced
kj kj kj kj jk kj kj kj kj kj kj jk kj jk




warm air
jk jk




EIFS is also known asP- CORRECT ANSWER -synthetic stucco
kj jk jk kj jk jk kj kj




Which cost estimating method is the mostdetailed and time-consuming to develop? -
jk kj kj jk jk jk kj jk kj kj kj kj




CORRECT ANSWER -quantity survey
jk jk jk jk




Segregated cost method is another name for the jk jk jk jk jk jk jk jk method.-CORRECT ANSWER-unit-
kj kj kj kj




in-place
jk




The cost estimating method most commonlyused by residential appraisers is the
jk kj jk jk kj kj jk jk kj kj jk jk




method.- CORRECT ANSWER -comparative-unit kj kj kj kj