USPAP’s Scope of Work Rule addresses:

USPAP is mandatory for:

USPAP updates are issued:

USPAP’s Record Keeping Rule requires records kept for:

Ethics Rule under USPAP includes:

Which is a USPAP reporting option?

USPAP requires appraisers to:

An appraiser must be:

USPAP is maintained by:

USPAP stands for:

Which approach is least used for vacant land?

Reconciliation is included in:

Consistency in reconciliation means:

If one approach is inapplicable, the appraiser should:

Final opinion of value must be:

What does not influence reconciliation?

Reconciliation helps the appraiser:

Reconciliation is based on:

What is the purpose of reconciliation in appraisal?

The gross rent multiplier (GRM) is used primarily for:

An appraiser using the income approach must determine:

A higher cap rate generally indicates:

What’s the formula for value using the direct capitalization method?

Vacancy and collection loss should be:

What is potential gross income?

What is excluded from operating expenses?

A capitalization rate is used to:

Net operating income is calculated by subtracting operating expenses from:

The income approach is most suitable for valuing:

A functional problem that’s not fixable is called:

What is physical depreciation?

The final step in the cost approach is:

The replacement cost estimates:

Curable physical deterioration is:

External obsolescence is caused by:

Depreciation due to outdated design is called:

Which is not a method for estimating reproduction cost?

What does the cost approach estimate first?

The cost approach is best suited for which property type?

An adjustment is needed when:

Which term refers to the relative desirability of a feature?

The sales comparison approach is most reliable for:

What characteristic is least important when selecting comps?

Which is the final step in the sales comparison approach?

A comp sold with seller concessions. What adjustment is necessary?

In paired sales analysis, appraisers determine adjustments by:

What must an appraiser always do when using comparables?

Which term describes a difference in feature between a subject and comparable?

What is the sales comparison approach primarily based on?

Which zoning brings highest value?

Topography matters because:

Which unit is not common for land valuation?

‘Assemblage’ means:

Which method estimates land based on income?

‘Highest and best use’ helps determine:

Land value depends on:

Most important factor in land value is:

Plottage refers to:

Which method best values vacant land?

Fee simple ownership is:

Riparian rights are related to:

A setback is:

Which is a permanent improvement?

The R-value measures:

Land area is usually measured in:

‘Encumbrance’ means:

Which is not usually part of a legal description?

An ‘amenity’ in property terms refers to:

What defines ‘gross living area’?

Which trend impacts housing demand?

What does ‘months of inventory’ refer to?

An oversupply of homes leads to:

What is a major cause of real estate cycles?

A hot market is characterized by:

Lower mortgage interest rates usually lead to:

Which indicator is directly related to real estate demand?

In a buyer’s market, prices generally:

What does a high absorption rate suggest in a market?

Which factor most affects trends in the real estate market?

What type of depreciation is being calculated when it is expressed as one total value in the cost approach?

Which is a recognized method for estimating depreciation?

Which elements can influence a residential site’s value?

Which are commonly used methods to value residential land at its highest and best use?

Why is the final reconciliation step important in an appraisal?

What is it called when an appraiser derives a value from multiple adjusted comparables?

What is a reliable source of construction cost data for appraisers?

Which of the following is NOT a known strength of using qualitative analysis?

When do seller-paid points and similar financing terms appear in the marketplace?

If a 0.67-acre lot is sold for $80,000, what is the approximate price per square foot?

Which approach to value is grounded in the principles of supply and demand, change, and substitution?

Which access-related issue could lower a site’s market value?

In an older neighborhood experiencing transition, what should an appraiser evaluate to determine future property use?

If a property sold for $209,900 six months ago and property values have been rising 1% monthly, what is its estimated current value?

When assessing the highest and best use of a developed single-family property, what should be considered?

What term refers to the specific date tied to an appraiser’s evaluation and conclusions?

What types of access can negatively influence a site’s value?

In an aging neighborhood undergoing change, which factor is most relevant in determining a property’s future use?

A home was purchased six months ago for $209,900. If prices have risen 1% monthly since, what is the approximate new value?

When evaluating the best use of a residential property as currently built, what should an appraiser assess?

What is the term for the specific date to which an appraiser’s value conclusions and analysis apply?