Certified Residential Appraisal Exam

[cdanj]

That last advice is indeed a sure-fire way to flunk the exam. I took it in 2018 and the number of complex math questions was substantial. You can't pass without getting a majority of them correct.

Like I said questionable. Luckily I know my way around the HP12C pretty well.
And in retrospect, I shouldn't have included that. Or at the very least said I think it was bad advice.

 

[dmoberly]

I took the exam last March (2022) and there were quite a few math problems but very few that required the functions of the HP12c. However, I've spoken to others that have taken it recently and they said there were several on their's. My advice is to skip any lengthy math problem that will take considerable time to complete and come back after you've gone through all the other questions. You don't want to spend too much time on one question and end up running out of time and having to guess on easier questions.

 

[cdanj]

I took the exam last March (2022) and there were quite a few math problems but very few that required the functions of the HP12c. However, I've spoken to others that have taken it recently and they said there were several on their's. My advice is to skip any lengthy math problem that will take considerable time to complete and come back after you've gone through all the other questions. You don't want to spend too much time on one question and end up running out of time and having to guess on easier questions.

Can you skip questions and return to them?

 

[dmoberly]

Can you skip questions and return to them?

Yes. The system will show you which questions you've answered and which ones you've skipped. You can go back and forth as much as you want.

 

[cdanj]

I took the exam last March (2022) and there were quite a few math problems but very few that required the functions of the HP12c. However, I've spoken to others that have taken it recently and they said there were several on their's. My advice is to skip any lengthy math problem that will take considerable time to complete and come back after you've gone through all the other questions. You don't want to spend too much time on one question and end up running out of time and having to guess on easier questions.

Any memory about whether they had questions about "Appraisal Statistical Methods CR" ?
On my review it's all mean median, mode, of a set of numbers.
The vocab is all definitions like
Multiple Regression Analysis
Paired Data Analysis
Linear Regression Analysis
and so on.
I can do the equations all day long. But these definitions of abstract things that I will never use and kinda barely grasp...
Do you remember if we needed to know stuff like the above terms?

 

[dmoberly]

Any memory about whether they had questions about "Appraisal Statistical Methods CR" ?
On my review it's all mean median, mode, of a set of numbers.
The vocab is all definitions like
Multiple Regression Analysis
Paired Data Analysis
Linear Regression Analysis
and so on.
I can do the equations all day long. But these definitions of abstract things that I will never use and kinda barely grasp...
Do you remember if we needed to know stuff like the above terms?

 

[dmoberly]

Any memory about whether they had questions about "Appraisal Statistical Methods CR" ?
On my review it's all mean median, mode, of a set of numbers.
The vocab is all definitions like
Multiple Regression Analysis
Paired Data Analysis
Linear Regression Analysis
and so on.
I can do the equations all day long. But these definitions of abstract things that I will never use and kinda barely grasp...
Do you remember if we needed to know stuff like the above terms?

I'm not sure if you've seen the post by me than lists all the topics I can remember from the exam. Personally, I wouldn't spend much time studying the statistical methods because it's confusing and if it's on the exam, it would probably be one or two questions at the most. Here are all the topics I could remember:
Assemblage/ Plottage
Hypothetical condition
Extraordinary assumptions
Superstructure/ Substructure
Long lived / Short lived
Leased fee / Leasehold
Tenants in common / Joint tenancy
Escheat
Eminent Domain /Condemnation
Calculate GLA
Calculate depreciation
Calculate remaining economic life
Fenestration
Types of easements
Deed restrictions
Know record keeping rule
Know competency rule
Calculate adjustments
Sublease / Sandwich lease
Tenancy by entirety / severalty
Determine highest and best use
Calculate acreage
Metes and bounds definition
Rectangular survey acre calculation
Draw out section of land
4 forces DUST
Influences PEGS
Agents of production Land Labor Capital and Coordination
Calculate cap rates
Calculate EGI/NOI/PGI
Calculate NIR/OER
Calculate GRM/GIM
Curable/Incurable functional obsolescence
External/Economic obsolescence
Calculate lot value by allocation
Understand appraisal reviews
Ethics rule covers what 3 components
Excess/Surplus Land
Gross vs Net lease
Contribution/Substitution/Anticipation
Calculate tax rate/Mills
Calculate standard deviation
Calculate standard regression

 

[cdanj]

I'm not sure if you've seen the post by me than lists all the topics I can remember from the exam. Personally, I wouldn't spend much time studying the statistical methods because it's confusing and if it's on the exam, it would probably be one or two questions at the most. Here are all the topics I could remember:
Assemblage/ Plottage
Hypothetical condition
Extraordinary assumptions
Superstructure/ Substructure
Long lived / Short lived
Leased fee / Leasehold
Tenants in common / Joint tenancy
Escheat
Eminent Domain /Condemnation
Calculate GLA
Calculate depreciation
Calculate remaining economic life
Fenestration
Types of easements
Deed restrictions
Know record keeping rule
Know competency rule
Calculate adjustments
Sublease / Sandwich lease
Tenancy by entirety / severalty
Determine highest and best use
Calculate acreage
Metes and bounds definition
Rectangular survey acre calculation
Draw out section of land
4 forces DUST
Influences PEGS
Agents of production Land Labor Capital and Coordination
Calculate cap rates
Calculate EGI/NOI/PGI
Calculate NIR/OER
Calculate GRM/GIM
Curable/Incurable functional obsolescence
External/Economic obsolescence
Calculate lot value by allocation
Understand appraisal reviews
Ethics rule covers what 3 components
Excess/Surplus Land
Gross vs Net lease
Contribution/Substitution/Anticipation
Calculate tax rate/Mills
Calculate standard deviation
Calculate standard regression

I have this list printed out and thumbtacked to my cork board... Hahaha.
OK.
Looks like I need to learn "Calculate standard regression"

 

[cdanj]

I'm not sure if you've seen the post by me than lists all the topics I can remember from the exam. Personally, I wouldn't spend much time studying the statistical methods because it's confusing and if it's on the exam, it would probably be one or two questions at the most. Here are all the topics I could remember:
Assemblage/ Plottage
Hypothetical condition
Extraordinary assumptions
Superstructure/ Substructure
Long lived / Short lived
Leased fee / Leasehold
Tenants in common / Joint tenancy
Escheat
Eminent Domain /Condemnation
Calculate GLA
Calculate depreciation
Calculate remaining economic life
Fenestration
Types of easements
Deed restrictions
Know record keeping rule
Know competency rule
Calculate adjustments
Sublease / Sandwich lease
Tenancy by entirety / severalty
Determine highest and best use
Calculate acreage
Metes and bounds definition
Rectangular survey acre calculation
Draw out section of land
4 forces DUST
Influences PEGS
Agents of production Land Labor Capital and Coordination
Calculate cap rates
Calculate EGI/NOI/PGI
Calculate NIR/OER
Calculate GRM/GIM
Curable/Incurable functional obsolescence
External/Economic obsolescence
Calculate lot value by allocation
Understand appraisal reviews
Ethics rule covers what 3 components
Excess/Surplus Land
Gross vs Net lease
Contribution/Substitution/Anticipation
Calculate tax rate/Mills
Calculate standard deviation
Calculate standard regression

OK. Is standard regression just linear regression?

 

[cdanj]

Hi Karl,
I just saw your post and wanted to share some info. I passed my exam in March of this year on the first attempt. I highly recommend the exam practice questions from the Appraisal Institute. I would say they are the most similar to the exam questions. I also purchased the McKissock exam prep class and that is helpful as well. I would really study USPAP Standards 1 and 2. As soon as I finished my exam, I wrote down every topic I could remember from the exam. Here's my list. Good luck!!

Important: I feel math is one of my strengths but what I found very helpful was to skip every math question that would take some time to calculate. Then, after I made it through all of the questions, I would go back and complete all the math questions. You don't want to get hung up on a question that you're struggling to find the answer and cause additional stress and potentially cause you to run out of time before you get to all the questions. Also, the math questions can be very wordy and include significant info that is irrelevant. I suggest reading the last sentence to see what they are actually asking. Then, go through the question and pick out the relevant info needed to calculate your answer.

Assemblage/ Plottage
Hypothetical condition
Extraordinary assumptions
Superstructure/ Substructure
Long lived / Short lived
Leased fee / Leasehold
Tenants in common / Joint tenancy
Escheat
Eminent Domain /Condemnation
Calculate GLA
Calculate depreciation
Calculate remaining economic life
Fenestration
Types of easements
Deed restrictions
Know record keeping rule
Know competency rule
Calculate adjustments
Sublease / Sandwich lease
Tenancy by entirety / severalty
Determine highest and best use
Calculate acreage
Metes and bounds definition
Rectangular survey acre calculation
Draw out section of land
4 forces DUST
Influences PEGS
Agents of production Land Labor Capital and Coordination
Calculate cap rates
Calculate EGI/NOI/PGI
Calculate NIR/OER
Calculate GRM/GIM
Curable/Incurable functional obsolescence
External/Economic obsolescence
Calculate lot value by allocation
Understand appraisal reviews
Ethics rule covers what 3 components
Excess/Surplus Land
Gross vs Net lease
Contribution/Substitution/Anticipation
Calculate tax rate/Mills
Calculate standard deviation
Calculate standard regression

I just made the mistake of signing up for the 1000 review questions questions from appraisal institute.
From what it sounds like the exam doesn't go into this kinds detail..
But, they throw this question out and I suddenly don't feel that prepared.
Did you encounter anything resembling this?


What is the market value of a mortgage that has 36 payments of $1,850 per month, 36 payments of $1,950 per month, and 180 payments of $2,050 per month if the market interest rate for mortgage loans like this is 6.5% per annum?
Group of answer choices
a. $253,994
b. $272,241
c. $466,200
d. $505,800