Sitting The Certified General Exam

[Whtwhale]

I've passed the exams, done the hours, ruined several pairs of boots, filled the appraisal logs and am now ready to sit the test! It's been 5 years since coming into the industry and I'm finally here.

I've ordered the AI book for taking the exams. In addition, I will be using my class materials from McKissock as a guide.

I recently took the GRE's (graduate school entrance exam) and it appeared like a more involved set of exams but there is exponentially more study material available. I'm lost on where to begin with studying for the Certified General.

What are the recommended study sources for the exam?

As always thank you for any information. This forum has been a great resource and frankly an instrument in me staying in this business.

 

[Scott.A]

Try Quizlet. It's a website that has all kinds of flash card study tools that folks can upload for any subject. There are several appraisal sets on there.

Other wise, I find it is very difficult to really study for a culminating test. Rest in the knowledge that you've been doing it for five years and most of what you need to know has already been ingrained. And be ready for a really long test. It's an all-dayer.

 

[Zephyr999]

Having taken and passed national dental hygiene board exam can attest it is not an easy test. Concepts weren't the issue...algebra was. Focused only on how to work a formula backwards, forwards, and upside down...two weeks later felt totally prepared and passed.

It also helps if you don't forget your ID...my first go had to travel 3hrs round trip to go back and get it...luckily they had a seat later in the day.

 

[Financially Feasible]

Focused only on how to work a formula backwards, forwards, and upside down.

This is excellent advice.

For me, my apprenticeship was the best study prep that I could have possibly received.

 

[Orlando Tragic]

I failed the exam last month but I only relied heavily on the Practice Exam Questions from the Appraisal Institute . As previously mentioned, study the formulas inside and out. Weakest areas were Real Estate Markets - mortgages and variable rate mortgages (constant, div eq. rate, etc), Income Approach - Yields and Band of Investment, and Cost Approach - I presume age/life or depreciation. not sure. The practice exam questions were invaluable, as was, rereading USPAP before the exam. Know USPAP inside and out. Since failing, I got my hands on the Student's Handbook which has greatly expanded my knowledge on the weakest areas listed above. I am pretty sure I just had a meltdown during the exam and that's why I failed. Scored 72, needed 75. Retaking this Saturday. Will post results and if exam was vastly different. Good luck!

Also note: Pearsonvue lists the test as having 110 questions, there was actually 124. The outline they provide with the amount of questions from each section is also BS, I knowingly went into the exam with weak areas expecting to see maybe 6 questions max, but turned out there were a ton more.

 

[Whtwhale]

I failed the exam last month but I only relied heavily on the Practice Exam Questions from the Appraisal Institute . As previously mentioned, study the formulas inside and out. Weakest areas were Real Estate Markets - mortgages and variable rate mortgages (constant, div eq. rate, etc), Income Approach - Yields and Band of Investment, and Cost Approach - I presume age/life or depreciation. not sure.

I'll be sure to get that handbook. These big exams are 50% mental. I got smoked on the GRE practice test but once I practiced taking the test I did much better. I'm sorry to hear you failed it but with a score that close your certainly in the ballpark.

Best of luck!

 

[Gobears81]

I reviewed all of my course handbooks from AI (except for the electives) and that was more than enough to pass. The best way to pass is just by reading the old course handbooks cover to cover, taking the practice tests, and going back to drill down on areas that you are fuzzy. Take a month or three if you need to.

It has been 9-years since I took the exam, but remember being quizzed on the relationship between discount rates and cap rates quite a bit. One exam question that I remember AI not teaching is in relation to acre-feet and depth of a pond. That was the only question that the course handbooks didn't have me ready for, which is pretty good. Maybe things are different now on either the exam or in AI coursework though

 

[ICT RE]

http://www.appraisalfoundation.org/...operty_Appraisers_/TAF/AQB_National_Exam.aspx

The pass/fail rate for first-time exam takers (CG or CR) aren't that rough - recently in the 65%-70% range. People sitting for their CFA, CPA, or PE would love to see those numbers on their own licensure exams.

I'll note I'm not saying this full of hubris, nor do I recommend it; I'm taking the CR soon myself (whenever I feel ready to schedule it - last step in the process for me too). Just saying that statistics, when on your side, can have a calming effect. Being calm rather than paranoid going into a major exam like this can make all the difference in the world.

 

[ucbruin]

I forget the year licensing was initially required....
But leading up to the date, the owner of a commercial fee shop that I worked with for a year to get commercial experience held training sessions for us.....
Told us to purchase a training manual specifically written for the test....

To this day I remember 2 pieces of advice he gave us....

1. Don't argue with the answers in the book because that will be the answer on the test....

And as we were grumbling about having to take a test.....

2. Be glad we were the first to take the test because the state needed appraisers and didn't want to fail us, so this version of the test will be easy compared to future tests once enough appraisers were licensed.

After reading about the current test questions he was correct....

 

[Orlando Tragic]

http://www.appraisalfoundation.org/...operty_Appraisers_/TAF/AQB_National_Exam.aspx

The pass/fail rate for first-time exam takers (CG or CR) aren't that rough - recently in the 65%-70% range. People sitting for their CFA, CPA, or PE would love to see those numbers on their own licensure exams.

I'll note I'm not saying this full of hubris, nor do I recommend it; I'm taking the CR soon myself (whenever I feel ready to schedule it - last step in the process for me too). Just saying that statistics, when on your side, can have a calming effect. Being calm rather than paranoid going into a major exam like this can make all the difference in the world.

My buddy just took a live CE class here in Orlando and was told from instructors the pass rate for CG in Florida was 20% in October (I was one of the 80%). According to him, only 12 appraisers have been certified for both CR and CG for the year. Those stats made me feel better for not passing. My $0.02 from personal mistakes: don't stress the test, we have a year to pass and can reschedule within 24hrs, pass questions that are too confusing at first, and don't take a test an hour away from your house (I am super eager to get certified (too eager.))