2024 Edition

Real Estate Appraiser Practice Test

Take this free practice test to see what type of questions are on a real estate appraisal licensing or certification exam. All states require real estate appraisers to be licensed by the state or certified to engage in the appraisal of real estate. There are different levels of practice.  A residential appraiser typically is limited to appraising family residences of 1-4 units in size or other property that is under a certain dollar value. A general appraiser can appraise any type or size of real state, both residential and commercial.

Real Estate Market

1. Public services such as fire and police protection are examples of which type of influence on real estate value?
2. Private ownership of real estate, even in fee simple absolute, is not unlimited. Which of the following limit an owner's rights in their property?
3. ______________ value may be based on the replacement or reproduction cost of physical items that are subject to loss from hazards.
4. Existing land use regulations, reasonably probable modifications of such land use regulations and economic supply and demand are necessary for credible assignment results and are considered part of:
5. Which of the following are effective measurements of investment performance in a consideration to purchase an investment property?

Property Description

6. Site or land description consists of:
Study Online Instantly
NCE Practice Exam - National Counselor Practice Exam
Click to Save 50% Now
7. ___________ is defined as the total area of finished, above-grade residential space.
8. Mr. John Bates has a ten-year lease on a building. What type of interest does he have in the building?
9. Angela Ward is leasing property from Frances Brown. Angela conveys by agreement to Brenda Hopkins the right of use and occupancy of the leased property. This agreement is known as a ______________.
10. Taxes levied by municipalities and taxing districts are "ad valorem". Which of the following best defines "ad valorem"?

Real Estate Appraisal

11. The effective date of an appraisal is the date to which an appraiser's analyses, opinions and conclusions apply. This date is also referred to as the:
12. Mary Ryan is performing an appraisal of a single-family residence. To determine the highest and use of the property as improved, Mary must:
13. A subject property sold six months ago for $209,900. The owner needs to sell the property due to a job transfer. The values of homes in this market have been increasing 1% per month for the last six months. What minimum value would the owner expect to receive (rounded)?
14. Judy Baker is appraising a property in a declining residential neighborhood that is undergoing transition. These large 70-year-old houses sell for $70,000 to $80,000. Which of the following questions will Judy have to answer to determine the highest and best use of the subject property?
15. Issues with access that could negatively affect the value of the subject site include:
16. The concepts of anticipation and change, which are the underlying principles of supply and demand, substitution, balance and externalities, are basic to the _______________ approach to value.
17. A lot contains 0.67 acres. If it sells for $80,000, how much did it sell for per square foot?
18. Special financing terms, such as seller-paid points, appear in the market ______________.
19. Which of the following is a NOT a strength of qualitative analysis?
20. There are numerous sources of cost information when it comes to building a residence. Which of the following is a proper source of such information for an appraiser?
21. The derivation of a value indication from the adjusted prices of two or more comparables sales in the sales comparison approach is known as ______________.
22. The purpose of the final reconciliation of value in an appraisal report is ______________.
23. In current appraisal theory, there are six ways to value a residential site as if it were vacant and available to be put to its highest and best use. Residential appraisers use only three of these. Which of the following are among those three?
24. Which of the following affect residential site value?
Study Online Instantly
NCE Practice Exam - National Counselor Practice Exam
Click to Save 50% Now
25. Which of the following is a principal method for estimating depreciation?
26. In the cost approach, when you calculate accrued depreciation as a single number, what type of depreciation have you calculated?

Quality starts with who wrote the material.
Our practice exam writer
Pamela Teel
 is a Certified General Real Estate Appraiser, an AQB-Certified USPAP Instructor and a Certified Distance Education Instructor. She has worked as a course developer for the Texas Appraiser Licensing and Certifcation Board. 

Tim Andersen, MAI,
 is a Certified General Real Estate Appraiser, an AQB-Certified USPAP Instructor and a Certified Distance Education Instructor, in Florida.


The Residential Apppraiser certification exam contains 125 multiple-choice questions. A test taker is give 4 hours to complete the exam.

Below are the domains tested:

- Real Estate Market
- Property Descriptions
- Site Valuations
- Sales Comp Approach
- Cost Approach
- Income Approach
- Reconciliation
- Emerging Methods
- Statistical Methods