Each test has about 80 questions. Based on the testing data collected, Focused Learning did its best to meet the 14 major content areas established by Appraiser Qualification Board (AQB) standards.

  • 1. Influences on Real Estate Value
  • 2. Legal Considerations
  • 3. Types of Value
  • 4. Economic Principles
  • 5. Real Estate Markets and Analysis
  • 6. Property Description
  • 7. Highest and Best Use Analysis
  • 8. Appraisal Math and Statistics
  • 9. Sales Comparison Approach
  • 10. Site Value Methods
  • 11. Cost Approach
  • 12. Income Approach
  • 13. Valuation of Partial Interests
  • 14. Appraisal Standards and Ethics

View some sample questions below.

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A property includes a one-unit residence on the northeast corner of an irregularly shaped 6-acre tract of land. The tract is located at the intersection of two roads and includes 263 ft. of road frontage on each road. It is estimated that including dwelling contributes $150,000 to value. The tract has never been plotted and there are no deed restrictions. The local zoning ordinance requires two acres with 250 ft. of road frontage. The local Market for 5-acre residential use tracts is reported strong. Surplus land not required by zoning, sells for $3,000 per acre, but a plotted building lot sells for $30,000. The dwelling is situated $0 as to permit a division of property into two tracts without any negative impact upon the existing dwelling. What is the highest and best use of this tract, both vacant and as improved?
A. Vacant as one parcel; and as improved with one house on 2.5 acres and one additional vacant lot or with 2.5 acres.
B. Vacant as two parcels of 2.5 acres each; and as improved with tear down of the existing residence.
C. Vacant as two parcels of 2.5 acres each; and as improved with one house on 2.6 acres and one additional vacant lot with 2.5 acres.
D. Vacant as one 5-acre parcel; and as improved with the house on 5 acres.
A client is requesting a fee appraisal to provide the most probable price that would be paid for a property. The client indicated the results may be used as part of a tax appeal. What type of value is being requested?
  1. Assessed
  2. Investment
  3. Going concern
  4. Market
A rectangular building is 35 ft wide x 55 ft. long. What is the perimeter measurement of the building?
A. 180 ft.
B. 1,925 sf
C. 1,925 ft.
D. 180 sf
The subject property lacks central heat and air conditioning. Market research indicates the property would rent for $75 more per month with central heating and air conditioning. Analysis of sales activity has concluded the monthly gross rent multiplier is 125 for this market. The estimated cost to install central heating and air conditioning is $6,000. How much will the property increase in value if central heat and air is installed?
A. $9,375
B. 5,000
C. $2,600
D. $3,375
During the initial research of the subject property, an appraiser finds the following terms within this legal description: N36 degrees 5 minutes W, 100 feet, thence, E 42 degrees 10 minutes S. 150 feet to point of beginning. What type of legal description is illustrated?
A. Lot and block.
B. Government survey.
C. Rectangular survey.
D. Metes and bounds.
Two appraisers collaborated on an appraisal. One appraiser concluded all of the research and analysis of market rents used in support of income approach. The second appraiser completed the remainder of the appraisal. The second appraiser was the only one who signed the certification. According to USPAP, how should this arrangement be handled in the appraisal report?
A. The report must be signed by the appraiser or appraisers who actually inspected the subject property.
B. If one of the appraisers does not sign the certification, that appraiser must be named in the certification.
C. Because both appraisers contributed in such a significant manner, both must sign this certification.
D. As long as one of the appraisers signs the certification, there is no additional obligation under USPAP.
A home that suffers from below average maintenance is located in a neighborhood where the surrounding homes have been very well maintained. The poorly maintained home is benefiting in value from its association with the surrounding homes. What appraisal principle is demonstrated?
A. Regression.
B. Contribution.
C. Progression.
D. Change.
A homeowner died without a will or any ascertainable heirs. The home is completely furnished. The home and furnishings will become property of the state as a result of what government force?
A. Assessment.
B. Eminent domain.
C. Police Power.
D. Escheat.
The subject property has a one-car garage, in an area where a two-car garage considered the typical. The cost to build a second stall at the time of construction is $5,000. The cost of an addition to an existing home is $3,000. The market will pay $8,000 more for a house with a two-car garage versus a one-car garage. What is the adjustment to a property with a two-car garage in comparison to the subject?
A. +$8,000.
B. -$5,000.
C. +$3,000
D. -$8,000
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