Learning Appraisal.com/2008 Exam

[Amy Grande]

I am preparing for the 2008 exam with my test date being right around the corner.

I saw on this site, people recommending learningappraisal.com, so I went there and began taking the tests.

My question is: are the test questions on that website similar to those found on the "new" exam?

I will be taking the practice tests until I master them. Is that sufficient? Is there another practice test I/we should be taking?

I have taken 5 of the 8 necessary educational requirements through AI, with the notable exception of G2 and G3. When I took G1 it was a SLEW of mathmatical formulae I have not seen since; for instance the conversion of future value to present value taking into account not just a discount rate, but changes in market appreciation and increases in building/land value in excess of market.

Was that on the 2008 exam?


Any feedback is greatly appreciated.

 

[Cowboy Steve]

Hi Amy, I too am using learnappraising.com's practice tests to prepare for my exam. Their website says "Updated for the 2008 Exam", so I think the questions have been updated. I dropped them an e-mail them for confirmation on the extent of this "update". Good luck on the exam!

 

[Brad Coburn]

Amy,
I just took and passed the exam on Friday. I used learnappraising and it definitely helped with the format of questions and allowed you to see types of questions (how they were phrased) so you won't get tripped up.

I would recommend downloading USPAP from Preamble to Standard 6 and studying it as well. I would also make sure to know the formulas for income multipliers/rent multipliers and definitely PGI, EGI and NOI.

I studied using the three books I got from Allied appraisal school on cost approach, income approach, highest and best use and sales comparison.

Study definitions for everything you can. Obviously know paired sales analysis in terms of extracting a value of a particular amenity / factor.

Also, when taking the exam don't jump on the first answer you think is correct! There were many times that I thought one, two or even three of the answers could be correct but they either had one thing wrong with them or didn't fully cover everything.

In my opinion, if you have a very solid knowledge base to work with even using only learnappraising won't necessarily guarantee you passing. I would pick up as many books as I could from the school you're taking your required hours from and, at the very least, read up on the major terms. Good luck!

 

[jnordquist]

I used Compucram a couple years ago for the old test and it was outstanding. They should have an updated version

 

[Amy Grande]

Honestly....I could not be more nervous if I tried. I'm a classic over achiever.

I have taken numerous "old" tests, some harder than others and through studying have gotten my scores up to anywhere between 88 and 94%. I've also taken every old quiz and practice question from classes and done fine.

Then...I went to the learnappraisalg website and I FAILED! I spent the entire day yesterday taking tests on that website and am now passing.

"I used learnappraising and it definitely helped with the format of questions and allowed you to see types of questions (how they were phrased) so you won't get tripped up."

Good to know Brad, thanks! Part of my learning curve yesterday was to "relearn" how THEY worded the questions and what they were looking for. It's vastly different.

Or maybe I really am a dummy.

"I would also make sure to know the formulas for income multipliers/rent multipliers and definitely PGI, EGI and NOI."

Ironically, the PGI, EGI and NOI is where I excelled. For me, it's not the math. I love numbers. They are logical and make sense to me. That's the one part of the learnappraisal test where I scored solidly without batting an eye.

My background is 10 years in the finance department of a mall ownership company. Ask me anything about a lease, lessor, mortgagor, REA, COREA and I can hold a very intelligent conversation. I changed careers to be a commercial appraiser (or aspiring to be one) after assisting in the valuation of our malls for a period of years. I am blessed that my current employment involves primarily self contained appraisal reports for apartment complexes, multi tenant office and 100+ unit senior housing units which are being developed.

Imagine my horror when I can pass the old test with flying colors and then failed the computer based practice test!!!

I guess in my own way, I'm trying to confirm that I'm on the right track. I would also like to encourage someone taking the test to go to the learningappraisal website, even if you're passing all the tests you have. I nearly had a heart attack yesterday.

 

[Charles Woods]

FYI

The real website is LearnAppraising.com


learningappraisal however will take you to another website called Hondros, who it seems is trying to benefit from confused typers. (trying to syphon away customers, how honest!)


Anyway for those who care, it is LearnAppraising.com



Charles

 

[Luzette Eaves]

Amy, you will do great! Not to worry! Just keep on doing what you are. The next 2 AI classes you are taking will help also.

 

[Amy Grande]

FYI

The real website is LearnAppraising.com


learningappraisal however will take you to another website called Hondros, who it seems is trying to benefit from confused typers. (trying to syphon away customers, how honest!)


Anyway for those who care, it is LearnAppraising.com



Charles

Ooops. Thanks!

 

[Amy Grande]

Amy, you will do great! Not to worry! Just keep on doing what you are. The next 2 AI classes you are taking will help also.

Luzette! I've been meaning to talk to you! I have to talk to you about something that may help you with your assignments some day. I have an "in" with hospitals.

Thanks for the vote of confidence. I can guarantee you I will be obsessing over this until it's over. I will do my very best.

 

[Amy Grande]

Yesterday was the "big day" for me. I took the exam.

It was looooong. Parts of it were hard. Other parts you just intuitively knew would be there and they really weren't that bad.

I could take the learnappraising.com tests and score in the mid 90's. A 100 question test took 2 hours on that website. Based on that, I had misjudged the amount of time that it would take to complete the exam with relative confidence (ie not blowing through it). I expected a conservative 4 hour dedication of my time to do well on the exam.

At the end of my 7th hour in the exam my brain was fried. I was double checking answers and I ultimately decided that I either knew it or I didn't and it was time to find out.

I passed!!!!

I have to caution people taking the exam....study...study...and when you think you're done, study some more! I included my info on the learnappraising.com practice tests so that others using it could use it as a gauge for how much more they need to study. Honestly, I think part of the preparation process is preparing your brain for a 7 or 8 hour marathon.