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100+ Free ASFMRA RPRA Practice Questions
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For purposes of USPAP, an 'appraisal review' is defined as:
A
B
C
D
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2026 Statistics
Key Facts: ASFMRA RPRA Exam
5 years
Required Appraisal/Review Experience
Including 1 yr review in last 5
CG
Required Underlying Credential
Certified General Appraiser
1
Demonstration Review Report
Narrative USPAP-compliant
$500K
FIRREA Commercial Threshold
Interagency 2018
Std 3 & 4
USPAP Standards Tested
Development + Reporting
5 yrs
Workfile Retention Minimum
USPAP Record Keeping
The RPRA is awarded by ASFMRA to Certified General Appraisers with 5+ years of appraisal and/or review experience (including 1 year of review within the last 5). Candidates must complete required coursework, submit a demonstration review report, and pass the proctored RPRA Comprehensive Exam. RPRA holders perform technical reviews for lenders, AMCs, federal agencies, and in litigation support, opining on whether an appraisal complies with USPAP and produces credible results.
Sample ASFMRA RPRA Practice Questions
Try these sample questions to test your ASFMRA RPRA exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.
1USPAP Standard 3 governs:
A.Development of an appraisal review
B.Mass appraisal
C.Personal property appraisal
D.Business appraisal
Explanation: USPAP Standard 3 sets the requirements for the development of an appraisal review, and Standard 4 covers its reporting. Together, they govern the act of forming an opinion about the quality of another appraiser's work.
2For purposes of USPAP, an 'appraisal review' is defined as:
A.The act or process of developing an opinion about the quality of another appraiser's work
B.Re-doing the original appraisal
C.Performing a desk inspection only
D.A casual quality control checklist by lender staff
Explanation: USPAP defines appraisal review as the act or process of developing an opinion about the quality of another appraiser's work performed as part of an appraisal or appraisal review assignment. A reviewer forms and reports an opinion about quality.
3A 'technical review' under FIRREA Title XI generally requires:
A.A qualified appraiser to assess the work under review for USPAP compliance
B.An underwriter to verify loan terms
C.A clerk to confirm receipt of the appraisal
D.An automated valuation model only
Explanation: FIRREA-related technical reviews must be performed by an appraiser qualified for the type of review work. The reviewer evaluates whether the work under review complies with USPAP and supports credible results.
4An 'administrative review' typically:
A.Checks for completeness and conformance with client requirements but does not opine on quality
B.Constitutes a USPAP Standard 3 review
C.Replaces the technical review
D.Requires the reviewer to be a Certified General Appraiser
Explanation: An administrative review (or compliance review) verifies that the report contains required elements and conforms to client and regulatory checklists. It does not develop an opinion about the quality of the underlying analysis, so it is not a Standard 3 review.
5Under USPAP Standard 3, the reviewer must identify:
A.The client and other intended users, intended use, subject of the review, and scope of work
B.Only the date of the original appraisal
C.Only the value reached by the original appraiser
D.Only the reviewer's compensation
Explanation: Standard 3 requires identification of the client and intended users, intended use, the subject of the review (which includes the work being reviewed), the type and definition of value if applicable, effective date, and the scope of work for the review.
6A reviewer who develops his or her own opinion of value must comply with:
A.Both Standard 1 (development) and Standard 3 (review) requirements
B.Standard 3 only
C.Standard 2 only
D.Standard 4 only
Explanation: When the reviewer develops his or her own opinion of value, the work must comply with Standard 1 (development) for that opinion and Standard 3 for the review aspect, with appropriate reporting under Standards 2 and 4.
7FIRREA defines the threshold above which a Certified Appraiser must be used for federally related transactions involving commercial real estate as:
A.$500,000 (current threshold for commercial transactions)
B.$250,000
C.$1,000,000
D.No threshold
Explanation: The federal banking regulators raised the commercial real estate threshold to $500,000 in 2018. Transactions above that threshold typically require a Certified Appraiser; below, an evaluation may suffice. Residential threshold is $400,000.
8A reviewer who finds the value conclusion of the work under review is unreasonable, but does NOT develop an own opinion, must:
A.Clearly state the reason the conclusion is unreasonable
B.Provide a new value as a fallback
C.Quietly accept the value
D.Refuse to issue a review report
Explanation: USPAP requires the reviewer to develop an opinion about quality. If the reviewer concludes the value is unreasonable but does not develop a separate opinion of value, the reviewer must clearly state the reason for the conclusion.
9In a fee panel managed by a lender, the appraisal review function is BEST separated from:
A.Loan production and origination to maintain independence
B.Loan servicing
C.Title insurance
D.Insurance underwriting
Explanation: Federal rules (Interagency Appraisal and Evaluation Guidelines, Dodd-Frank Appraiser Independence rules) require that the review function be independent of loan production to prevent undue influence on value. Reviewers should report to the risk or compliance function.
10The Interagency Appraisal and Evaluation Guidelines (2010) provide guidance on:
A.Bank appraisal programs, evaluations, reviews, and AVM use
B.Federal income tax preparation
C.Securities filings
D.Real estate brokerage practice
Explanation: The 2010 Interagency Guidelines from the OCC, FDIC, Federal Reserve, OTS, and NCUA address sound appraisal and evaluation programs, including review processes, AVM use, evaluations, and reappraisals.
About the ASFMRA RPRA Practice Questions
Verified exam format metadata for Real Property Review Appraiser (ASFMRA) is pending. The practice questions above remain available while official exam length, timing, passing score, fee, and administrator details are reviewed.