Real Estate Exam Practice Sample Appraisal and Valuation Test

This exam sample is show the type of questions that you will encounter on our paid appraisal and valuation exams. This set of 10 questions does not allow for the grading functionality or display of rationales as does our exam subscriptions.
Real Estate Appraisal and Valuation Exam
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1. A group of investors is looking to buy a shopping mall to add to a portfolio of investment properties. Which of the following valuation methods would be most useful to them?
  Comparative sales method
  Asset based approach
  Income approach
  Cost approach
2. The net income of a property, divided by the value of a property, would provide the:
  Depreciation rate
  The rental rate
  The capitalization rate
  The cash flow rate
3. What is the first step in calculating value, using the cost approach?
  Estimating square footage
  Calculating depreciation
  Estimating the value of land only at it's highest and best use
  Adding the value of land and improvements
4. A large, expensive home built in the same neighborhood as less expensive, smaller homes, would illustrate the principle of?
5. A township is part of what land description method?
  Metes and bounds
  Rectangular Survey System
  Longitude and latitude
  Plat of survey method
6. A home built in 1995 and sold in 2000, would have what actual age at the time of sale?
  Five years
  Ten years
  Six years
  None of the above
7. Which of the following principles could be used by an appraiser to value a piece of property?
  Supply and demand
  All of the above
8. Economic obsolescence is best described as?
  A loss in value due to poor design
  Loss in value due to external factors
  Physical deterioration
  Curable depreciation
9. The type of appraisal method best used for an apartment building would be?
  The cost approach
  The market data approach
  The income approach
  The capital approach
10. The owners of some newly built homes are told that a new sewage treatment plant will be build next to their community. Home values would decline from:
  Functional obsolescence
  Physical deterioration
  Economic obsolescence
  Eminent domain

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