Free Certified Residential Appraiser Exam Prep

Definitions and preamble; Ethics, Record Keeping, Competency, Scope of Work, and Jurisdictional Exception Rules; Standards 1–4; guidance, assumptions, conditions, bias, and fair housing.

Comparable sales identification, elements and units of comparison, quantitative and qualitative adjustments, and reconciliation

Value forces and factors, government, value types, nonrealty allocation, effective dates, market analysis, investment and mortgage mathematics, and highest and best use.

Reproduction vs replacement cost, direct and indirect costs, cost estimation methods, and physical, functional, and external obsolescence

Physical, economic, and functional characteristics; legal descriptions, fixtures, ownership interests, public/private controls, and taxation.

Lease and rent analysis, vacancy, expenses, direct and yield capitalization, rates and multipliers, fee-simple/leased-fee/leasehold interests, and reconciliation.

Sales comparison for land, extraction, allocation, land residual, ground rent capitalization, and subdivision development

Reconciliation of the three approaches to value, evaluating data quality and quantity, and deriving the final value opinion

Automated valuation models (AVMs), desktop appraisals, hybrid and bifurcated valuations, and property data collection protocols

Descriptive statistics, measures of central tendency, dispersion, simple linear regression, and coefficient of determination