100+ Free RAA Practice Questions

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Which of the following is an example of FUNCTIONAL obsolescence?

Proximity to a busy freeway

Worn carpet

A 1970s home with a four-bedroom configuration and only one bathroom

Worn roof shingles

to track

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2026 Statistics

Key Facts: RAA Exam

1,000

Additional Experience Hours Required

NAR RAA program

Hours of Tested Coursework Above AQB

NAR RAA program

$100

Application Fee

NAR (one-time, includes $25 processing)

$100

Annual Maintenance Per Designation

NAR

5 years

USPAP Workfile Retention Minimum

USPAP RECORD KEEPING RULE

1989

FIRREA Title XI Enacted

Federal statute

RAA is NAR's residential appraiser designation, available only to active REALTOR members who hold State Certified Residential or General Appraiser status, complete 45 hours of tested coursework above the AQB minimum, and document 1,000 hours of appraisal experience beyond state certification. The one-time application fee is $100 (including a $25 non-refundable processing fee), with $100 annual maintenance. Beginning in 2026, NAR will recognize any AQB-approved or state-approved Valuation Bias and Fair Housing CE course to satisfy NAR's Fair Housing Training requirement. RAA is administered by the NAR Appraisal Group at appraisal@nar.realtor or 800-874-6500 x8267.

Sample RAA Practice Questions

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

1Under USPAP, what document establishes the binding standards for appraisal practice in the United States?

A.Fannie Mae Selling Guide

B.Uniform Standards of Professional Appraisal Practice published by The Appraisal Foundation

C.FIRREA Title XI regulations alone

D.AQB Appraiser Qualifications Criteria

Explanation: USPAP is published and updated by the Appraisal Standards Board (ASB) of The Appraisal Foundation. It establishes binding ethical and performance standards for all licensed and certified appraisers in the United States. FIRREA Title XI requires appraisers to comply with USPAP for federally related transactions, but USPAP itself is the standards document.

2The USPAP ETHICS RULE has four sections. Which is NOT one of them?

A.Conduct

B.Management

C.Confidentiality

D.Recordkeeping

Explanation: The USPAP ETHICS RULE contains three sections: Conduct, Management, and Confidentiality. Recordkeeping is a separate USPAP rule (the RECORD KEEPING RULE), which requires appraisers to retain workfiles for at least 5 years (or 2 years after final disposition of any judicial proceeding, whichever is longer).

3Under the USPAP RECORD KEEPING RULE, what is the minimum workfile retention period?

A.1 year

B.3 years

C.5 years, or 2 years after final disposition of any judicial proceeding, whichever is longer

D.10 years from the report date

Explanation: USPAP requires appraisers to retain the workfile for at least 5 years after preparation, OR at least 2 years after final disposition of any judicial proceeding in which the appraiser provided testimony related to the assignment, whichever period expires last. Failure to retain the workfile is a violation of USPAP.

4A bank engages an appraiser to value a single-family home for a refinance and asks for a specific value to support the loan amount. The appraiser should:

A.Accept the assignment and target the requested value to keep the client happy

B.Decline or renegotiate — accepting an assignment based on a predetermined value violates the USPAP ETHICS RULE

C.Accept but note the requested value in the report

D.Refer the assignment to a peer who is willing to hit the number

Explanation: Accepting an assignment that requires the appraiser to report a predetermined value or to arrive at a specific result violates the USPAP ETHICS RULE (Management section) and the Appraisal Independence Requirements (AIR) under Dodd-Frank. The appraiser must decline or renegotiate the scope without predetermined-value pressure. Referring the work to a peer perpetuates the violation.

5Scope of work, under USPAP, is determined by:

A.The client alone

B.The Appraiser Qualifications Board

C.The appraiser, based on the intended use, intended users, type and definition of value, and the assignment conditions

D.Fannie Mae's required exhibits list

Explanation: The USPAP SCOPE OF WORK RULE requires the appraiser to identify the problem (intended use, intended users, type and definition of value, effective date, subject property, relevant characteristics, and assignment conditions) and then determine the scope of work necessary to produce credible assignment results. The appraiser is responsible for the scope decision; the client may request a scope, but the appraiser must judge whether it is appropriate.

6An appraiser is asked to appraise a unique architect-designed waterfront home with limited comparable sales. The scope of work decision should be:

A.Always use only the three closest sales regardless of dissimilarity

B.Expanded — search a wider geographic and time window, consider all three approaches, and document why nondefault approaches were used or omitted

C.Reduced because the property is hard to value

D.Delegated to a trainee to keep fees low

Explanation: Under the SCOPE OF WORK RULE, complexity and limited data typically require an expanded scope: broader geographic and time-window searches, supplemental comparable types, and meaningful consideration of all three approaches to value (with documented reasons if any is omitted). Mechanically using only the three nearest sales would not produce credible results for a unique property.

7Which of the following is the BEST description of market value in residential appraisal?

A.The price a buyer will pay regardless of conditions

B.The most probable price a property should bring in a competitive and open market under all conditions requisite to a fair sale

C.The amount the seller paid plus inflation

D.The replacement cost less depreciation

Explanation: Market value, as defined in Title XI of FIRREA and in Fannie Mae/Freddie Mac forms, is 'the most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus.' It is a probable price, not a specific buyer's offer or a cost calculation.

8The three approaches to value used in residential appraisal are:

A.Sales comparison, cost, and income

B.Direct, indirect, and residual

C.Quantitative, qualitative, and contributory

D.Linear, multiplicative, and regression

Explanation: The three traditional approaches to value are the Sales Comparison Approach (analyzing recent sales of similar properties), the Cost Approach (land value plus depreciated cost of improvements), and the Income Approach (capitalizing income or using a Gross Rent Multiplier for residential). USPAP requires the appraiser to use those approaches that are necessary for credible assignment results and to document the reason for omitting any approach.

9For most owner-occupied single-family homes, which approach is given the MOST weight in reconciliation?

A.Cost approach

B.Income approach

C.Sales comparison approach

D.Each is weighted equally

Explanation: The Sales Comparison Approach is the primary indicator of value for owner-occupied residential properties because buyers and sellers actively transact in the market and recent sales of similar properties best reflect market behavior. Fannie Mae's UAD form 1004 makes the sales comparison approach the centerpiece of the appraisal. Cost and income are supporting indicators when applicable.

10In the cost approach, accrued depreciation is composed of three categories. Which is NOT one of them?

A.Physical deterioration

B.Functional obsolescence

C.External obsolescence

D.Economic appreciation

Explanation: Accrued depreciation includes physical deterioration (wear and tear), functional obsolescence (outdated design or features), and external obsolescence (negative factors outside the property — busy road, declining neighborhood). External obsolescence is generally considered incurable. 'Economic appreciation' is not a depreciation category — appreciation is the opposite of depreciation.

About the RAA Exam

The RAA (Residential Accredited Appraiser) is a NAR designation for State Certified Residential or General Appraisers who complete 45 hours of tested coursework above the AQB minimum and document 1,000+ hours of additional experience. RAA validates expertise in USPAP, the three approaches to value, Fannie Mae/UAD residential forms, sales comparison and adjustment analysis, federal appraisal regulation (FIRREA, Dodd-Frank AIR, AVMAA, FHA 4000.1), and ethical conduct including the Fair Housing Act and bias prohibition.

Questions

100 scored questions

Time Limit

Course-based (qualifying course finals)

Passing Score

Per course (typically 70%-75%)

Exam Fee

$100 application + $100 annual maintenance (National Association of REALTORS (NAR) Appraisal Group)

RAA Exam Content Outline

20%

USPAP & Ethical Conduct

USPAP ETHICS RULE (Conduct, Management, Confidentiality), RECORD KEEPING RULE (5-year workfile minimum or 2 years after judicial proceeding), COMPETENCY RULE, SCOPE OF WORK RULE, bias prohibition under Fair Housing Act, and Standards 1-4 reporting options

20%

Approaches to Value

Sales comparison (primary for owner-occupied residential), cost approach (Site Value + RCN - Accrued Depreciation), income approach (GRM for 1-4 unit, direct capitalization for commercial). Reconciliation by data quality, applicability, and reasoning

15%

Sales Comparison Approach

Comparable selection (3+ closed within 12 months on Form 1004), bracketing GLA/price/age/lot size, market-conditions (time) adjustments, concessions, paired sales analysis, CIA/CBS adjustment direction rules, and Fannie Mae 15% net / 25% gross adjustment guidelines

10%

Site Analysis & Highest and Best Use

Four HBU tests in order (legally permissible, physically possible, financially feasible, maximally productive), AS VACANT vs AS IMPROVED, effective age vs chronological age (age-life method), conformity, regression and progression

15%

Federal Regulation

FIRREA Title XI (state appraiser regulation, ASC under FFIEC, USPAP compliance), Dodd-Frank AIR codification in TILA 129E, AVMAA (customary and reasonable fees, state AMC registration), HPML appraisal rules, ECOA Reg B (appraisal copy 3 days pre-consummation), FHA Handbook 4000.1 MPRs, Title X lead-based paint disclosure

10%

Fannie Mae / UAD Forms

Form 1004 (1-unit URAR), 1004C (manufactured homes built to HUD code post-June 15, 1976), 1073 (condo unit), 1025 (2-4 unit), ANSI Z765 GLA measurement standard required as of April 2022, UAD condition (C1-C6) and quality (Q1-Q6) ratings, 3-year prior-sales analysis on subject and 1-year on comps

10%

Property Inspection & Reporting

Appraiser as observer (not home inspector), ANSI exterior measurement and 7-foot ceiling rules, identification of obvious adverse conditions, reporting options under USPAP (Appraisal Report vs Restricted Appraisal Report), workfile content sufficient to reproduce the assignment

How to Pass the RAA Exam

What You Need to Know

Passing score: Per course (typically 70%-75%)
Exam length: 100 questions
Time limit: Course-based (qualifying course finals)
Exam fee: $100 application + $100 annual maintenance

Keys to Passing

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

RAA Study Tips from Top Performers

1Memorize the USPAP rules cold: ETHICS RULE has 3 sections (Conduct, Management, Confidentiality), RECORD KEEPING is 5 years OR 2 years post-judicial proceeding, SCOPE OF WORK is the appraiser's decision, COMPETENCY requires pre-acceptance disclosure

2Learn CIA/CBS for sales comparison adjustments: Comp Inferior, Add — Comp Better, Subtract. Adjustments always go on the COMPARABLE, never the subject

3Know the GSE forms cold: 1004 (1-unit), 1004C (manufactured), 1073 (condo), 1025 (2-4 unit). At least 3 closed comparables within 12 months on 1004

4Drill the four HBU tests in order: Legally permissible, Physically possible, Financially feasible, Maximally productive — and always opine on both AS VACANT and AS IMPROVED

5Memorize the Fannie Mae 15% net / 25% gross adjustment guidelines and that ANSI Z765 (April 2022) governs GLA measurement on 1-unit homes — finished basement is below-grade, NEVER in GLA

Frequently Asked Questions

Is the NAR RAA designation still administered in 2026?

Yes. The NAR Residential Accredited Appraiser (RAA) designation is currently administered by the NAR Appraisal Group. The RAA/GAA program remains active in 2026, with $100 application fees and $100 annual maintenance. Starting in 2026, NAR also recognizes AQB-approved Valuation Bias and Fair Housing CE courses for the Fair Housing Training requirement. Contact appraisal@nar.realtor or 800-874-6500 x8267 for current details.

What are the eligibility requirements for the RAA designation?

You must be (1) an active REALTOR Appraiser member in good standing, (2) a State Certified Residential or General Appraiser, (3) have completed 45 hours of tested coursework above the AQB's minimum education requirement at the time of certification, (4) have at least 1,000 hours of additional appraisal experience beyond state certification, and (5) submit the application with the $100 fee.

Is the RAA an exam-based credential like USPAP or the state certification?

RAA itself does not have one centralized exam — it requires 45 hours of TESTED coursework, meaning each qualifying course must include a passing final exam. The state Certified Residential Appraiser exam (administered through AQB-approved providers like AMP/PSI) is a separate, prior requirement. Our practice bank covers the residential appraisal topics that recur across both the qualifying coursework finals and the state certification exam.

What is the difference between RAA and the Appraisal Institute SRA?

RAA is administered by NAR for REALTOR appraiser members and requires 45 hours of tested coursework plus 1,000 hours of additional experience. The SRA (Appraisal Institute) is a more rigorous residential designation with substantially more coursework, an admission exam, demonstration of advanced report writing, and experience documentation reviewed by AI peers. Many residential appraisers hold both.

Does Dodd-Frank AIR really prohibit lender loan officers from contacting appraisers about value?

Yes. Appraisal Independence Requirements (AIR), codified by Dodd-Frank in TILA Section 129E and Reg Z 1026.42, prohibit any party with an interest in the transaction from coercing, extorting, or attempting to influence the appraiser's independent judgment. Loan production staff (loan officers and processors) face the strictest restrictions and generally cannot contact appraisers about value at all — communications must flow through independent channels (often an AMC).

What forms do residential appraisers most commonly complete?

The most common are: Form 1004 (one-unit single-family detached/PUD), 1004C (manufactured homes built to HUD code on or after June 15, 1976), 1073 (individual condominium unit), 1025 (2-4 unit small residential income), 2055 (exterior-only inspection one-unit), and 1004D (appraisal update or final inspection). All of these are GSE-standardized through the Uniform Appraisal Dataset.