Failed the appraiser exam :)

[TEL2002]

TERMINOLOGY

The more you know the easier the test.

 

[Charles Woods]

www.learnappraising.com

I downloaded their demo and took a 30 question test. In two of the questions, the answer they gave is, IMHO, incorrect. For one, they indicate that USPAP requires the address of the subject property. USPAP does NOT require the address, it simply requires that you "adequately identify" the property. In some cases this is the legal description, etc. without an address!
I'm going to continue to evaluate it an MAY wind up using it. They said they will sell the OK. Cert Gen cram course for $69. It would be better than taking the test twice.

Robert,

I think you must have confused LearnAppraising with somebody else. They only have a DEMO for the FHA exam and the website is only $59.


Charles

 

[Robert Haithcox]

Passed my state test. Naturally.

As I promised in this forum last week, I PASSED,

Now I can get down to the real work of this process.

 

[Jonathan Anderson]

HERE's MY TAKE ON THIS ISSUE

I hate taking exams...always have and always will. I also did not pass it the first time and became very disheartened but was not about to let it get the best of me.

I did subscribe to Learnappraising.com, combined with old notes and my school books. I have to say learnappraising.com helped more than anything else.

The secret for me was to slow down. I found myself hurrying. If there is a question you don;t know the answer to...come back to it later....only answer the ones that you have no doubt about and then go back and hit the ones you are not sure about.

When you get to those unsure ones....slow way down. If you know how many you have to get right to pass...count up how many you have. The you'll know how many more you need to pass.

On those unsure ones....read the question very carefully...sit and look at the question for a bit and let it soak in. start eliminating the ones you know don;t fit until you narrow it down to the only obvious answer. It worked for me thank god because I had a horrible mentor and had to learn from many people other than the mentor.

 

[Caligirl]

Theory vs. practice

Let me tell you a funny story about flunking the appraiser exam. The local state appraisal teacher guru is an MAI-SRA, has been teaching for 30 years, active in all state affairs, is past chairman of the state appraisal board, etc. When appraiser licensing regulation first came into being he was active in helping the state get set up. They let him be the first appraiser to take the Virginia state appraisers exam. HE FLUNKED IT. They claimed there was a system failure and allowed him to retest.

About 15 years ago I was taking an AI appraisal class. The instructor told us that on his way down to the class site he was sitting on the airplane and got bored so he took the final exam. He got 60% and flunked it.

The point being: Appraiser education is all about teaching the test. Find you a local school that teaches the test so you can pass like everyone else does. That is all CE and appraisal education is about, CYA and passing the test.

The problem is with theory vs. real world practice. There is something in USPAP about professional appraisal practice representing what your experienced peers are doing. Then there are the test questions. A good example of this, is using the cost approach. I learned in a cost approach class that for income property valuation, the cost approach is the second most reliable method after the income approach. Believe me when I say, if I relied on the cost approach before the sale comparison approach in an appraisal I'd be laughed out of the profession by my peers. But when I take the upgrade exam, I'll bet that is one of the questions, and if I answer using my real-world experience I'll get the wrong answer.

 

[hastalavista]

A good example of this, is using the cost approach. I learned in a cost approach class that for income property valuation, the cost approach is the second most reliable method after the income approach. Believe me when I say, if I relied on the cost approach before the sale comparison approach in an appraisal I'd be laughed out of the profession by my peers.

Jodie,

I have no doubt this is what you were taught, and you are right about your conclusion on what the reaction would be to that blanket statement (at least in a residentail use context).
Mind sharing where you took this class? I'll be sure never to recommend it to anyone.
(or, at least, no one I like! :icon_twisted: )

Thanks

 

[Stone]

Sadly, teaching to the test has become all too common in just about every aspect of education. If all you know is the answer to the test questions and not the theory behind, what's the point? Just read and study the material, forget about the test questions.

TC

And since school funding is now tied to test results, it is only going to get worse.

 

[Caligirl]

Cost Approach class

Jodie,

I have no doubt this is what you were taught, and you are right about your conclusion on what the reaction would be to that blanket statement (at least in a residentail use context).
Mind sharing where you took this class? I'll be sure never to recommend it to anyone.
(or, at least, no one I like! :icon_twisted: )

Thanks

The information about using the cost approach second to the income approach for income property valuation was in a published textbook which was used in the class; the course was taught by a highly respected appraiser here in the SF bay area who is extremely knowledgeable. I don't fault the teacher: like I said, it is a question of theory vs. practice. Hence the need for experience in this profession; one can't just carry around a textbook and expect to be an appraiser. If you'd really like more info, send me a private email. I'd actually recommend the course. But I'm not interested in participating in some kind of smear campaign against a person who is a very good appraiser.

 

[hastalavista]

If you'd really like more info, send me a private email. I'd actually recommend the course. But I'm not interested in participating in some kind of smear campaign against a person who is a very good appraiser.

Your message service is disabled in the forum, and I am not a member of Yahoo.
I don't want to start a "smear" campaign either. I'm just interested to find out for what circumstances in residential appraisal the Cost Approach is taught to be superior to the Sales Comparison Approach? You can run a search on Cost Approach here on the forum and find 100+ pages of discussion (many of the more recent (last year) I contributed to) and find that almost no one suggests that, as a rule, the CA is a better indicator of value than the Sales Comparison approach.

If you happen to remember the name of the text book, and want to share, I'd appreciate it.

 

[StephHigdem]

Cram Course

McKissock has a "cram for the exam" course; worth every penny! 1 day, hit's the high spots, strategies for test taking, & also areas that can be safely not studied. Great course.