Advice for Residential Exam!

[Alijandi20]

Hey all,

I posted this on the Michigan forum and no one commented after two weeks, so I'm trying again, haha.

I'm have a limited appraiser license in Michigan and I'm ~900 hours into the 1k hour requirement with less than 2 online classes left, so I'll be taking the exam soon to become a state licensed residential appraiser, and I'm very nervous. What can I expect from the state exam? I'm not asking you to tell me any answers of course, just advice. I'm not even sure if we're allowed to talk about it (for some professions, talking about the licensure exams is a big no-no). I also haven't formally sat down to study, I'm just going through the classes. Is formal study (flashcards, practice exam questions, etc.) necessary? Also, what's the exam format like? Multiple question, fill-in-the-blank, complete this appraisal form? Am I allowed to know beforehand?

All and any advice is appreciated and will ease my nerves in some regard.

Thanks in advance!

 

[Terrel L. Shields]

Well, it is usually the basics. Cost and income will have questions. Ditto for obsolescences, and you might be asked about the SF in an acre, etc. etc. And usually a few architectural terms- pilaster, gable, etc. may be asked so find a good appraiser dictionary and read thru it. An old 1001 questions book are probably still a good thing. It may be 30 years old but the principles are the same.

 

[Elliott]

I had an assistant who just passed. Lots of Income Approach (like we ever use it), story comparable grid problems, and of course, USPAP. Now go over study.

 

[Alijandi20]

I had an assistant who just passed. Lots of Income Approach (like we ever use it), story comparable grid problems, and of course, USPAP. Now go over study.

I have never used income approach and haven't gotten to it yet in the mckissock classes. :/ Thanks for the heads up!

 

[Alijandi20]

Well, it is usually the basics. Cost and income will have questions. Ditto for obsolescences, and you might be asked about the SF in an acre, etc. etc. And usually a few architectural terms- pilaster, gable, etc. may be asked so find a good appraiser dictionary and read thru it. An old 1001 questions book are probably still a good thing. It may be 30 years old but the principles are the same.
View attachment 54393

Awesome! Thank you!

 

[Terrel L. Shields]

Awesome!

$10 and that book was used by thousands to take the test. I don't know if you can find a pre-test class- they are rare now, but I took the CR without much trouble but took a pre-test prep class for the CG and it helped. I think of our group there was only 1 or 2 that failed out of perhaps 20-25 students and nerves probably more than actual ability led to the failures. Test taking is nerve-racking and more so the older you get.

 

[MASSAPP]

I would recommend you take the appraisers institute exam prep module. Its $75 and worth every penny. I just took the Certified General exam and passed. I also purchased the appraisal institutes student handbook to the appraisal of real estate. It was helpful as well but if i had to choose, i would go with the exam prep module. In the module there is 1000 sample questions and they give explanations of the questions.

 

[Will41]

Make sure you can get a 90% + on all the Compucram quizzes & tests. This is the one for $149.
Get the Hondros Review Crammer book and take all the tests and quizzes.
Get the AI Practice Examination Questions for Real Estate Appraisers. This is the hardest one by far.
Write the definitions and formulas in the Hondros book on index cards and study.
Also, practice using the HP-12c until you pass for everything. Hide your other calculators.
Don't spend too much time on one question. I always answer the ones that I know first.
Good luck!