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Taking The Licensed Real Estate Appraisal Exam

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Slick-0125

Freshman Member
Joined
Nov 16, 2017
Professional Status
General Public
State
Maryland
Hello everybody.
First time post so not sure if I am posting on the right thread. I have recently been accepted to take the Licensed Exam in the state of Maryland. I took it in December and scored quite poorly. Have been using CompuCram software to prepare for it and Jeffrey Fisher / Dennis Tosh book to prepare for the second try. Is there a better product out there to prepare for passing the exam? Thank you all in advance.

S.T
 

TRESinc

Elite Member
Joined
Dec 1, 2011
Professional Status
Licensed Appraiser
State
Ohio
granted the test has changed significantly since i took it but the compucram worked for me. i did about 100 questions every night before i went to bed for 2 weeks or so.
 
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Ariba

Senior Member
Joined
Feb 8, 2004
Professional Status
Certified Residential Appraiser
State
Colorado
Hello everybody.
First time post so not sure if I am posting on the right thread. I have recently been accepted to take the Licensed Exam in the state of Maryland. I took it in December and scored quite poorly. Have been using CompuCram software to prepare for it and Jeffrey Fisher / Dennis Tosh book to prepare for the second try. Is there a better product out there to prepare for passing the exam? Thank you all in advance.

S.T
I assume that you haves taking classes offered by an appraiser educational provider in your state, can't they help you in getting ready to pass the test? If not you are wasting your time.
 

Ahhhh Yeahhhh

Junior Member
Joined
Jul 15, 2012
Professional Status
Certified Residential Appraiser
State
Georgia
The test is there to ensure that you know a little bit about what you are doing.... If you are failing miserably, then maybe thats a clue that you shouldn't be licensed yet.
 

The Warrior Monk

Moderator
Staff member
Moderator
Joined
Mar 30, 2005
Professional Status
Certified General Appraiser
State
New York
The current exam not only tests knowledge, but the ability to reason. It is very difficult to study for the later. It was my experience that, for the most part, the practice tests were useless.

The best prep for the test for me was taking the AI (SREA and AIREA) classes way back when. The test questions were of the same level of difficulty as the exam questions. If you can pass the AI qualifying courses, you can pass the exam.

There is no easy solution to this problem. The best you can do is know the basic material inside an out, retake the test, and hope for the best.

I believe someone mentioned elsewhere that AI had a review course for the exam, but I haven't verified that.
 

AMF13

Elite Member
Joined
Jan 24, 2002
Professional Status
Certified Residential Appraiser
State
California
I guess things changed. I took the test here years ago.
Was easier than a drivers license test. So, a total no brainer.
Good luck next time.
 

The Warrior Monk

Moderator
Staff member
Moderator
Joined
Mar 30, 2005
Professional Status
Certified General Appraiser
State
New York
I guess things changed. I took the test here years ago.
Was easier than a drivers license test. So, a total no brainer.
Good luck next time.

The early tests here were so easy it was a joke. People were literally done is less than a half hour. My wife was out so fast that the proctors thought she quit taking the test (she passed, BTW). I knew some people that took the CG test around 2000 that also said it was a breeze. All that when the new test was implemented. Now it's a marathon.
 

Trenton

Sophomore Member
Joined
Jun 5, 2015
Professional Status
Certified Residential Appraiser
State
Ohio
best of luck to you my man. all i can give is my own experience, usually when i spend an adequate amount of study time and walk into the exam confident, i'm able to pass. just try to prepare yourself, then right when you go in zen out and trust your instincts. you got this
 

Slick-0125

Freshman Member
Joined
Nov 16, 2017
Professional Status
General Public
State
Maryland
best of luck to you my man. all i can give is my own experience, usually when i spend an adequate amount of study time and walk into the exam confident, i'm able to pass. just try to prepare yourself, then right when you go in zen out and trust your instincts. you got this

Thank you very much for that.
 

Basically Rectangular

Junior Member
Joined
Mar 1, 2018
Professional Status
Licensed Appraiser
State
Virginia
Hello everyone, this is my first post on here. I very recently passed the licensed appraiser exam (within the last 2 weeks). It is not an easy exam. Four hours is a long time stay focused... honestly I thought that I had failed but actually I ended up doing well on it. Here is how I prepared:

I used an online prep course, learnappraising.com . I used that as practice exercises to get me to be able to understand the types of questions that might pop up. I would do 15-20 questions a few times a day in between typing reports for a couple of weeks. Once I was able to get the more basic questions right, I would then research the more difficult ones by referencing my appraisal course materials... in my case it was an online course that for the most part I completed mindlessly because I had to and was too busy to actually "study" and retain info while taking. I basically skimmed through each chapter again, this time focused and retaining what I needed. It was at this stage that I really learned the cost and income approaches. I probably studied for two months, slowly at first and then more and more intense until the week before the exam. At that stage I was dedicated to concepts I felt weak in. Didn't study the night before (at that point, useless).

Learn the formulas. Do you know the difference between EGI and NOI? The difference between GRM and the cap rate? How about age-life depreciation? Short lived vs long lived items & all forms of obsolescence. You should be able to spit these concepts out automatically if you want a decent chance of passing the exam. Arm yourself with an HP12C or equivalent and know how to use all of the financial functions. The exam covers a lot of material so you really need to be well prepared.

The AQB has sample questions that are straight up intimidating.... be able to get them right. I spent hours on those.... I guess it paid off.
 
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