100+ Free AI-GRS Practice Questions

Pass your AI-GRS General Review Specialist (Appraisal Institute) exam on the first try — instant access, no signup required.

✓ No registration✓ No credit card✓ No hidden fees✓ Start practicing immediately

100+ Questions

100% Free

1 / 100

Question 1

Score: 0/0

Under USPAP Standard 3, the primary purpose of an appraisal review is to develop and communicate an opinion about which of the following?

The market value of the subject property

The quality of the work under review, including completeness, accuracy, adequacy, relevance, and reasonableness

The professional reputation of the original appraiser

Whether the client should accept or reject the loan request

to track

Same family resources

More Real Estate Appraiser Exams Prep

Continue through related practice pages, study guides, comparisons, and articles from the same exam family.

Practice Pages

USPAP Uniform Standards of Professional Appraisal Practice Practice200 questions Real Estate Appraiser Practice196 questions AI-RRS Residential Review Specialist Practice100 questions Certified General Appraiser Practice100 questions Certified Residential Appraiser Practice100 questions Licensed Residential Appraiser Practice100 questions

FREE USPAP Exam Guide 2026: Pass the 15-Hour National Course15 min read

2026 Statistics

Key Facts: AI-GRS Exam

100

Questions per Exam

Appraisal Institute review-track exams

3 hrs

Time Limit

Appraisal Institute

70%

Passing Score

AI review-track exams

25%

USPAP Standard 3 Weight

AI-GRS content outline

$400K

FIRREA Commercial De Minimis

Title XI threshold

AI Code of Ethics Canons

Appraisal Institute

AI-GRS is the Appraisal Institute's commercial/general appraisal review designation. The path includes two course exams (Review Theory – General and Review Case Studies – General) plus the General Review Comprehensive Exam, all 100-question multiple-choice tests at roughly 70% to pass, with about 3 hours per sitting. USPAP Standard 3 (Appraisal Review, Development) and Standard 4 (Reporting Appraisal Reviews) drive 25% of the content, alongside review workflow, reviewer competency and independence, the income approach in commercial review, and FIRREA / Yellow Book regulatory context. Candidates must hold the Certified General Real Property Appraiser credential, a bachelor's degree (or AQB-accepted alternative), and have completed a Fair Housing course before testing.

Sample AI-GRS Practice Questions

Try these sample questions to test your AI-GRS exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1Under USPAP Standard 3, the primary purpose of an appraisal review is to develop and communicate an opinion about which of the following?

A.The market value of the subject property

B.The quality of the work under review, including completeness, accuracy, adequacy, relevance, and reasonableness

C.The professional reputation of the original appraiser

D.Whether the client should accept or reject the loan request

Explanation: USPAP Standard 3 requires the reviewer to develop and report an opinion about the quality of another appraiser's work, evaluating the completeness, accuracy, adequacy, relevance, and reasonableness of the analyses, opinions, and conclusions in the work under review.

2An AI-GRS reviewer is asked to perform an appraisal review on a 200,000 SF Class A office building. Before accepting the assignment, the reviewer must determine that they meet which USPAP requirement?

A.The Jurisdictional Exception Rule

B.The Competency Rule, which applies to both subject property type and the analytical methods used

C.The Supplemental Standards Rule

D.The Record Keeping Rule's 5-year retention period

Explanation: The Competency Rule requires reviewers to be competent in both the property type under review (commercial office) AND the analytical methods used (e.g., DCF, direct cap). If lacking competency, the reviewer must disclose, take steps to gain competency, or decline the assignment.

3Which of the following best describes the AI-GRS designation?

A.A general appraiser license issued by state regulatory boards

B.An Appraisal Institute designation for appraisers who specialize in the review of commercial appraisals

C.A federal certification administered by the Appraisal Subcommittee

D.A residential review credential issued by FHFA

Explanation: The AI-GRS (General Review Specialist) is an Appraisal Institute designation awarded to appraisers who demonstrate advanced competency in the review of commercial (general) appraisal assignments. It is a private-sector credential, not a state license or federal certification.

4A reviewer concludes that the work under review is credible but disagrees with the appraiser's value conclusion. To express the reviewer's own opinion of value, what additional USPAP requirement must be met?

A.The reviewer must obtain written approval from the original appraiser

B.The reviewer must comply with Standards 1 and 2 in addition to Standard 3

C.The reviewer must obtain a new engagement letter from the lender

D.The reviewer must wait 30 days before issuing the opinion

Explanation: Under USPAP Standard 3, when a reviewer develops their own opinion of value (or an opinion that differs from the value in the work under review), the reviewer must comply with Standards 1 and 2 (development and reporting of a real property appraisal) in addition to Standard 3.

5Under USPAP Standard 4, which of the following correctly distinguishes a Review Report from a Restricted Review Report?

A.A Restricted Review Report can only be used for residential properties

B.A Restricted Review Report is intended only for the client's use; a Review Report may be used by the client and other identified intended users

C.A Restricted Review Report does not require a signed certification

D.A Review Report cannot include the reviewer's own opinion of value

Explanation: Under Standard 4, a Restricted Review Report is permitted only when the client is the sole intended user. A Review Report may be issued when there are intended users in addition to the client. The restricted format requires a use restriction notice.

6Which document is the controlling federal standard for appraisals of property acquired or used by federal agencies, such as those involving land condemnation?

A.The Uniform Standards of Professional Appraisal Practice (USPAP)

B.Uniform Appraisal Standards for Federal Land Acquisitions (the Yellow Book)

C.The FIRREA Title XI rules

D.The Federal Appraiser Independence Requirements (AIR)

Explanation: The Uniform Appraisal Standards for Federal Land Acquisitions, commonly called the 'Yellow Book,' is published by the Interagency Land Acquisition Conference and governs federal land acquisition appraisals. It supplements USPAP with additional requirements specific to federal acquisitions.

7Title XI of FIRREA established federal oversight of appraisals primarily for which purpose?

A.To regulate appraiser fees nationwide

B.To ensure that real estate appraisals used in federally related transactions are performed by certified or licensed appraisers in accordance with uniform standards

C.To create a federal MLS for commercial real estate

D.To require federal review of every commercial appraisal regardless of value

Explanation: Title XI of FIRREA (1989) was enacted in response to the savings and loan crisis. It established the Appraisal Subcommittee (ASC) and requires that appraisals in federally related transactions be performed by state-licensed or certified appraisers and conform to USPAP.

8What is the primary role of the Appraisal Subcommittee (ASC)?

A.Writing USPAP each cycle

B.Federal oversight of state appraiser regulatory programs and the National Registry of state-credentialed appraisers and AMCs

C.Issuing the AI-GRS designation

D.Setting commercial cap rates by region

Explanation: The ASC, established by FIRREA Title XI, monitors state appraiser regulatory programs for compliance with federal requirements, maintains the National Registry of state-credentialed appraisers and AMCs, and provides federal oversight of The Appraisal Foundation grants.

9A reviewer accepting a contingent fee tied to whether a loan closes would most directly violate which USPAP rule?

A.The Competency Rule

B.The Ethics Rule (Management section), which prohibits compensation contingent on a predetermined value, direction in value, or occurrence of a subsequent event

C.The Record Keeping Rule

D.The Jurisdictional Exception Rule

Explanation: The Management section of the USPAP Ethics Rule prohibits accepting compensation that is contingent on the reporting of a predetermined value, a direction in value, the amount of a value opinion, or the occurrence of a subsequent event such as loan approval. This protects reviewer independence.

10The Appraisal Institute Code of Professional Ethics is organized around how many Canons?

A.Five

B.Seven

C.Nine

D.Twelve

Explanation: The Appraisal Institute Code of Professional Ethics is organized into nine Canons, addressing topics such as professional integrity, competency, disclosure, advertising, designation use, confidentiality, and obligations to the Institute.

About the AI-GRS Exam

The AI-GRS (General Review Specialist) is the Appraisal Institute's designation for appraisers who review commercial, industrial, agricultural, and other general (non-residential) appraisal work performed by other appraisers. Reviewers serve lenders, insurers, government acquisition agencies, courts, and AMCs by judging whether a report under review is complete, credible, and adequate for its intended use. The path requires the Certified General Real Property Appraiser credential (or equivalent), a bachelor's degree (or alternative), proof of a Fair Housing course, the Review Theory – General exam, the Review Case Studies – General exam, Candidate for Designation status, and the General Review Comprehensive Exam — followed by experience credit and adherence to the AI Code of Professional Ethics.

Questions

100 scored questions

Time Limit

3 hours

Passing Score

70%

Exam Fee

$425-575 per exam + AI candidacy fees (Appraisal Institute)

AI-GRS Exam Content Outline

20%

Appraisal Review Theory & Frameworks

Definition and purpose of appraisal review, types of review (desk, field, technical, administrative, ad hoc vs systematic), reviewer's role vs original appraiser, quality control vs quality assurance, scope-of-work decision in review.

25%

USPAP Standard 3 (Appraisal Review)

Standard 3 development requirements (competency, completeness, credibility, adequacy), reviewer's right to agree or disagree, separate opinion of value with proper notice, Standard 4 reporting (Restricted vs full Review Report), required certifications, recordkeeping.

15%

Review Process Workflow & Reconciliation

Engagement and assignment conditions, scope-of-work determination, identification of intended use and intended user, extraordinary assumptions and hypothetical conditions in review, reconciliation of review findings, communication with the original appraiser.

15%

Reviewing Income Approach Work

Common deficiencies in income approach (cap rate selection, market-supported vacancy and collection loss, expense ratio reasonableness, NOI calculation errors, GIM/GRM misapplication, DCF inputs, reversion/terminal cap), lease analysis review.

10%

Reviewing Sales Comparison & Cost in Commercial

Comparable selection criteria, adjustment sequence and support, paired sales analysis, cost approach review (RCN, depreciation breakdown, entrepreneurial incentive), site valuation methods in review.

10%

Reviewer Ethics, Independence & Bias

AI Code of Professional Ethics Canons 1-9, reviewer independence (no contingent fees, no advocacy), management pressure, valuation bias and Fair Housing, confidentiality, conflict-of-interest disclosures.

Regulatory Context (FIRREA, ASC, IAAO)

FIRREA Title XI federally related transaction thresholds, Appraisal Subcommittee oversight of state regulators, IAAO mass-appraisal standards, Yellow Book / UASFLA federal land acquisition standards, AVM and collateral underwriter use in review.

How to Pass the AI-GRS Exam

What You Need to Know

Passing score: 70%
Exam length: 100 questions
Time limit: 3 hours
Exam fee: $425-575 per exam + AI candidacy fees

Keys to Passing

Complete 500+ practice questions
Score 80%+ consistently before scheduling
Focus on highest-weighted sections
Use our AI tutor for tough concepts

AI-GRS Study Tips from Top Performers

1Re-read USPAP Standard 3 and Standard 4 in full each week — most exam stems test the precise wording around competency, scope of work, and the reviewer's option to develop a separate value opinion

2Build a reviewer's checklist for the income approach (cap rate support, vacancy, expense ratios, NOI math, DCF reversion) — most case-study items target one of these six failure modes

3Memorize the AI Code of Professional Ethics Canons 1-9 and the prohibition on contingent fees, advocacy, and disclosing confidential client data

4Practice writing a Review Report scope-of-work statement that clearly identifies intended use, intended user, extent of the review, and whether you are developing your own opinion of value

5Know the FIRREA Title XI thresholds (currently $400K commercial / $500K residential) and the role of the Appraisal Subcommittee — these regulatory facts appear on every form of the exam

Frequently Asked Questions

How is the AI-GRS exam structured and what is the passing score?

The AI-GRS path includes two course exams — Review Theory – General and Review Case Studies – General — plus the General Review Comprehensive Exam taken after Candidate for Designation status. Each exam is roughly 100 multiple-choice questions delivered in about 3 hours, and candidates need approximately 70% correct to pass. The Comprehensive Exam pulls integrated case-based questions across USPAP Standard 3, the income approach in review, and reviewer ethics.

What does USPAP Standard 3 require of a reviewer?

USPAP Standard 3 (Appraisal Review, Development) requires the reviewer to develop and communicate an opinion on the completeness, accuracy, adequacy, relevance, and reasonableness of the work under review. The reviewer must be Competent for the type of property and geographic area, must determine the appropriate scope of work, and may agree or disagree with the original opinion of value. The reviewer is not required to perform a new appraisal — but if they choose to develop their own opinion of value, they must give clear notice and comply with Standards 1 and 2 in addition to Standard 3.

What are the prerequisites to sit for AI-GRS?

Candidates must hold (or qualify equivalent to) the Certified General Real Property Appraiser credential, hold a bachelor's degree from an accredited institution (or an AQB-accepted alternative), and provide proof of completing a Fair Housing course. They must also complete the Appraisal Institute's required review-track education before sitting for the Review Theory – General and Review Case Studies – General exams, then become a Candidate for Designation before the General Review Comprehensive Exam.

What are the most common deficiencies a reviewer flags in the income approach?

The highest-impact deficiencies are: cap rates not supported by market evidence, vacancy and collection loss assumptions that diverge from the subject's submarket, expense ratios that omit reserves or include capital items, NOI errors (debt service treated as an operating expense), GIM/GRM applied without consistent units of comparison, and DCF reversion/terminal cap rates that produce internally inconsistent yields. Reviewers also check that lease abstracts match the rent roll and that contract vs market rent is correctly distinguished.

What is the difference between AI-GRS and AI-RRS?

Both are Appraisal Institute review designations. AI-GRS (General Review Specialist) covers commercial, industrial, agricultural, and other general (non-residential) review work and requires the Certified General Real Property Appraiser credential. AI-RRS (Residential Review Specialist) covers one-to-four-unit residential review work and requires at least the Certified Residential Real Property Appraiser credential. The two paths share the same review theory foundation but use different case-study exams scaled to the property type.

When does FIRREA Title XI require a state-credentialed appraisal review?

FIRREA Title XI requires a state-credentialed appraisal for federally related transactions above the de minimis thresholds — currently $400,000 for non-residential commercial real estate and $500,000 for residential — and lender prudential guidance further requires an internal review of those appraisals before reliance. The Appraisal Subcommittee (ASC) oversees state regulators that credential the appraisers. Reviews of federal land-acquisition appraisals additionally follow the Yellow Book (UASFLA) standards.