Certified Residential Appraisal Exam

[dmoberly]

That's the tricky part of the exam. My exam had one or two questions that required the HP12C and none were regarding mortgages. But, I've spoken with people that said their exam had a lot of questions requiring the HP12C. Personally, I wouldn't stress about the above type question because there may be one, at most, on the exam. I felt like the AI math questions were more difficult than what was on the exam and that made me feel very prepared.

 

[shrubberyvaluation]

I had an appraisal assistant take the test two years ago, passed, and said there were lots of USPAP questions, Income Approach questions (yes for Cert Res), and long story problem questions. Hope that helps.

I would also add the long stories tend to have useless information. Sometimes it could be a simple equation using 2 numbers and a couple other numbers that are irrevalent to the question are thrown in. I'd read what they are asking for and then go back to the information and pick out what you need.

 

[shrubberyvaluation]

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

When you get questions like this you should at least be able to narrow it down to a 50/50 even if you forget the exact equation.

 

[cdanj]

When you get questions like this you should at least be able to narrow it down to a 50/50 even if you forget the exact equation.

I bumbled through a few of them, but the best I can do on the ones I am totally lost on is.

When you get questions like this you should at least be able to narrow it down to a 50/50 even if you forget the exact equation.

I was able to guesstimate the right answer on that one by doing a ratio based weight average of the three numbers.

 

[cdanj]

Also for the Appraisal Institute Questions, the questions at the very end of some of the sections are for Cert Gen. So they won't be necessary for the cert res test. But I would highly recommend going through at least 85% of each segment.

OMG!!! THANK YOU FOR THIS!!!

 

[Michell11772]

If you want to pass the Cert. Test, go to the weekend class linked below about a week before your test. Its taught by Bruce Legg in Anaheim, CA and he guarantees you will pass the test if you take his class. He is right. I did his class 5 years ago about a week before the Cert. test. I crammed using the materials from the class for a week afterwards, then passed the test on the first try (despite not being a "math head"). He uses the Hondros book, and you will need to read it cover to cover before you go to the seminar.

It was the hardest test I ever took (much harder than the Bar Exam that I took and passed decades earlier, and much, much harder than the Licensing test). If it was not for Bruce's class I wouldn't have had a prayer with those math calculations.

You are close enough in Nevada that going to Anaheim should present little logistical problem for you. You can go to Bruce's class and pass on the first try, or you can try it on your own ... and wind up going to Bruce's class in the future. The choice is yours. I would go now and pass the first time.

https://www.retrainersca.com/live-AQB-residential-exam-prep-class.html

Can you give any info on the Bruce Legg exam prep class. I'm thinking about flying out in January for the class...traveling from SC. I'm trying to find info on places to stay (nearby) and the closest airport. I can't find any info or reviews except on this forum. I'm researching on google but thought you might have some insight. Any info will be much appreciated.

 

[Alsie35]

Can you give any info on the Bruce Legg exam prep class. I'm thinking about flying out in January for the class...traveling from SC. I'm trying to find info on places to stay (nearby) and the closest airport. I can't find any info or reviews except on this forum. I'm researching on google but thought you might have some insight. Any info will be much appreciated.

I spoke to Bruce about a month ago. Unfortunately he has decided to retire from teaching classes. I do not know whether the January class has been cancelled as a result. I recommend you give him a call. His phone number is on the website I linked to in my post earlier this year. He is good about getting back to you within a day. From what Bruce told me last month, McKissock's online training course and practice tests are basically "it" right now. McKissock apparently bought out Hondros and Compucram so they may be the only game in town. Bruce did recommend them, so there is that.

Good luck!

 

[Tom D]

well, there may be definitions asked like regression and progression. just remember what you don't remember. you have your cell phone. take a bathroom break. before cell phones, i had papers in my pockets. when i walked out of the bathroom i realized it's was the girl's bathroom, high school weekend test. i was wondering why it didn't have any urinals to.
i also asked local people who took it if they remembered any thing hard.

 

[Delvec]

I used a local exam Prep class, which I took multiple times - 6+. Also used Compu Cram ( the best option my opinion $ for $) and the Appraisal Institute practice exam question booklet (more detailed & difficult questions). Best advice is over prepare for it, passed on the 1st attempt.