RE Appraiser Practice Exam.
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1. A candidate reviewing the exam blueprint wants to confirm the total pool of scored items. Which single figure from the published information answers this?
- A. The fee of approximately $105
- B. The scaled passing score of 75
- C. The count of 110 scored questions
- D. None of the published figures address the number of items
Show answer & explanation
Answer: C
Only the '110 scored questions' figure answers a question about the number of scored items. The fee and passing score describe different aspects of the exam.2. A licensing candidate must achieve a minimum result to pass the examination. Expressed on the exam's reported scale, what is the passing score?
- A. 70 scaled
- B. 72 scaled
- C. 75 scaled
- D. 80 scaled
Show answer & explanation
Answer: C
The official passing standard is a scaled score of 75. No other passing value is supported by the source material.3. For a contract to be legally enforceable, one essential element is that the parties reach a 'meeting of the minds.' Which element does this phrase most directly describe?
- A. Consideration
- B. Mutual assent (offer and acceptance)
- C. Capacity of the parties
- D. Legality of purpose
Show answer & explanation
Answer: B
A 'meeting of the minds' refers to mutual assent — the alignment of an offer with a matching acceptance. Consideration, capacity, and legality are separate elements, so mutual assent is the concept described here.4. A buyer signs a purchase agreement but is a minor at the time of signing. Which term best describes the general status of a contract entered into by a minor?
- A. Void from the outset
- B. Voidable at the option of the minor
- C. Fully enforceable against the minor
- D. Illegal and unenforceable by either party
Show answer & explanation
Answer: B
Contracts entered into by a party lacking full capacity, such as a minor, are generally voidable at that party's option rather than automatically void. This lets the protected party choose to disaffirm or honor the agreement.5. Which of the following figures is published as the examination fee for the appraiser exam, as opposed to a scoring or structural figure?
- A. 75
- B. 110
- C. 105
- D. None of these is the fee.
Show answer & explanation
Answer: C
Approximately $105 is the examination fee. 75 is the scaled passing score and 110 is the number of scored questions, so those describe scoring and structure rather than cost.6. A candidate has $100 available and wants to know whether that covers the officially listed examination fee. Based on the official source, what should the candidate conclude?
- A. $100 is more than enough, because the fee is approximately $75
- B. $100 may fall short, because the fee is listed as approximately $105
- C. $100 exactly matches the listed fee
- D. The fee is not published, so no conclusion is possible
Show answer & explanation
Answer: B
The official source lists the fee as approximately $105, which is greater than $100, so $100 may not fully cover it. This is a comparison against the grounded fee.7. An applicant answers 80 of the scored items correctly but receives a reported scaled score of 73. Why might a scaled score differ from a simple count of correct answers?
- A. Scaled scores are reported on a standardized scale where the passing standard is a scaled 75, which is not the same as a raw percentage of items correct
- B. Scaled scores always equal the number of correct answers
- C. Scaled scores are calculated by adding the examination fee to the raw score
- D. Scaled scores are only used when a candidate fails
Show answer & explanation
Answer: A
The published standard is a scaled score of 75, indicating scores are reported on a standardized scale rather than as a raw count of correct answers. Reasoning about why the two can diverge is an inference over the fact that the standard is scaled; no specific conversion formula is asserted.8. A study group is comparing the exam's structure. One member claims the scored-question count and the passing score are the same number. Using the officially published values, is that claim correct?
- A. Yes — both are 110
- B. Yes — both are 75
- C. No — there are 110 scored questions and the passing standard is a scaled 75, which are different values
- D. No — the count is 75 and the passing standard is a scaled 110
Show answer & explanation
Answer: C
The official values are 110 scored questions and a scaled passing score of 75. These are two distinct published figures, so the claim that they are identical is incorrect.9. An exam is scored on a scaled basis. According to the published information, what is the scaled score a candidate must achieve to pass?
- A. 70
- B. 72
- C. 75
- D. 80
Show answer & explanation
Answer: C
The published passing standard is a scaled score of 75. The remaining options are common distractor thresholds not supported by the source.10. A candidate wants a single summary of the exam's key published parameters. Which statement correctly combines the officially grounded values for question count, passing standard, and fee?
- A. 110 scored questions, a scaled passing score of 75, and a fee of approximately $105
- B. 75 scored questions, a scaled passing score of 110, and a fee of approximately $105
- C. 110 scored questions, a scaled passing score of 105, and a fee of approximately $75
- D. 105 scored questions, a scaled passing score of 75, and a fee of approximately $110
Show answer & explanation
Answer: A
The officially grounded values are 110 scored questions, a scaled passing score of 75, and a fee of approximately $105. The other options transpose these figures and are not supported by the official source.11. A statute requires that contracts for the sale of real property be in writing to be enforceable. This requirement is most closely associated with which legal doctrine?
- A. The parol evidence rule
- B. The Statute of Frauds
- C. The doctrine of laches
- D. The doctrine of caveat emptor
Show answer & explanation
Answer: B
The Statute of Frauds requires certain contracts, including those for the sale of real property, to be in writing to be enforceable. The parol evidence rule and the other doctrines address different issues.12. Two parties sign a written contract that they intend as the complete and final expression of their agreement. One party later tries to introduce evidence of an earlier oral promise that contradicts the writing. Which rule generally bars this evidence?
- A. The Statute of Frauds
- B. The parol evidence rule
- C. The mailbox rule
- D. The doctrine of substantial performance
Show answer & explanation
Answer: B
The parol evidence rule generally bars prior or contemporaneous oral statements that contradict a written contract intended as the final and complete agreement. The other rules address formation, acceptance timing, and performance rather than admissibility of contradictory prior terms.13. A party to a contract fails to perform its obligations without any legal excuse. What is this failure generally called?
- A. Novation
- B. Rescission
- C. Breach of contract
- D. Assignment
Show answer & explanation
Answer: C
An unexcused failure to perform a contractual duty is a breach of contract. Novation, rescission, and assignment describe other contract events — substitution, cancellation, and transfer of rights — not a failure to perform.14. After a valid contract is formed, the original parties agree to replace one of the original parties with a new party, extinguishing the old obligation and creating a new one. Which term best describes this arrangement?
- A. Assignment
- B. Novation
- C. Delegation
- D. Accord and satisfaction
Show answer & explanation
Answer: B
A novation substitutes a new party (or new obligation) for an original one with the consent of all parties, extinguishing the original duty. Assignment and delegation transfer rights or duties without necessarily discharging the original party, and accord and satisfaction settles an existing obligation with a substituted performance.15. Because the passing standard is reported as a 'scaled' score rather than a raw count, which conclusion is best supported?
- A. A candidate must answer exactly 75 of the scored questions correctly.
- B. The reported passing value is expressed on a scaled metric, so it is not necessarily equal to a raw number-correct count.
- C. The passing standard changes with each candidate's fee payment.
- D. Scaling means only 75 of the 110 questions are actually scored.
Show answer & explanation
Answer: B
The source describes the passing score as 'scaled,' which by definition is a transformed metric rather than a direct raw-count requirement. It cannot be assumed to equal a specific number of correct answers.16. Which of the following is described only in approximate terms in the published exam information?
- A. The number of scored questions
- B. The scaled passing score
- C. The exam fee
- D. The topic weightings
Show answer & explanation
Answer: C
The source states the fee as 'approximately $105,' signaling an approximate value, whereas the scored-question count and passing score are stated as fixed figures.17. If a candidate does not achieve the required standard and must re-sit the exam, what additional cost per attempt is indicated by the published fee?
- A. Approximately $75 per attempt
- B. Approximately $105 per attempt
- C. No additional cost is indicated
- D. Approximately $110 per attempt
Show answer & explanation
Answer: B
The published fee to sit the exam is approximately $105; a re-sit is another attempt at the exam, so the indicated cost per attempt is approximately $105. No separate discounted re-sit figure is provided in the source.18. Which statement about the three published exam metrics is accurate?
- A. The largest published number refers to the passing score.
- B. The largest published number refers to the count of scored questions.
- C. The fee and the passing score share the same value.
- D. The count of scored questions equals the passing score.
Show answer & explanation
Answer: B
Among the published metrics — 110 scored questions, a scaled passing score of 75, and a fee of about $105 — the largest value is 110, which is the count of scored questions. The other statements incorrectly equate distinct metrics.19. A seller makes a written offer to sell property and states the offer will remain open until Friday. Before Friday, the seller sells the property to someone else. Absent an option supported by consideration, what is the general status of the original offer?
- A. The offer remains irrevocable until Friday regardless of the seller's actions
- B. The offer may be revoked before acceptance because the promise to keep it open was not supported by consideration
- C. The offer automatically converts into a binding contract on Friday
- D. The offer is void from the moment it was made
Show answer & explanation
Answer: B
A bare promise to hold an offer open, without consideration to create an option contract, is generally revocable before acceptance. Because no consideration supported keeping it open, the seller could revoke by selling to another buyer.20. A candidate has $200 set aside for exam-related fees. Given an approximate examination fee of $105, which statement about affording a second full-fee attempt is best supported?
- A. The $200 is enough to cover two full attempts at the exam fee.
- B. The $200 is enough for one attempt but not two full attempts at the exam fee.
- C. The $200 is not enough for even one attempt.
- D. The $200 covers exactly two attempts with no remainder.
Show answer & explanation
Answer: B
One attempt costs approximately $105, leaving about $95 — not enough for a second $105 attempt. So $200 covers one attempt but not two. This is an inference from the grounded fee.21. A study group pools money so each of three members can pay the appraiser examination fee once. Using the approximate per-person fee, which amount best represents the combined fee cost for all three members?
- A. Approximately $105
- B. Approximately $210
- C. Approximately $315
- D. Approximately $75
Show answer & explanation
Answer: C
At approximately $105 per person, three members total approximately 3 × $105 = $315. This is an inference derived from the grounded per-attempt fee.22. A candidate scores a scaled 74 on the licensing examination. Based on the officially published passing standard, what is the result?
- A. The candidate passes, because 74 rounds up to the standard
- B. The candidate fails, because the scaled passing score is 75
- C. The candidate passes, because the standard is a raw percentage, not a scaled score
- D. The result cannot be determined without knowing the number of unscored items
Show answer & explanation
Answer: B
The official passing standard is a scaled score of 75. A scaled 74 falls below that threshold, so the candidate does not pass. This is a direct comparison against the published standard.23. On the examination score report, the term 'scaled passing score' appears next to the value 75. What does the presence of a scaled passing standard most directly indicate about how results are interpreted?
- A. Results are compared against a fixed scaled threshold rather than declared a pass automatically
- B. Every candidate automatically passes
- C. The fee determines whether a candidate passes
- D. The number of scored questions determines the scaled score directly and identically
Show answer & explanation
Answer: A
A published scaled passing score of 75 indicates that a candidate's scaled result is measured against that fixed threshold to determine pass/fail. The interpretation is an inference over the grounded passing-standard fact.24. Two applicants register for the examination in the same testing window. Assuming each pays the officially listed examination fee, approximately what total will the two applicants pay combined?
- A. Approximately $105
- B. Approximately $150
- C. Approximately $210
- D. Approximately $75
Show answer & explanation
Answer: C
The official fee is approximately $105 per applicant. Two applicants each paying that fee total approximately $210. The combined figure is an inference derived by summing the single grounded fee twice; no new standalone fee is asserted.25. A home inspector is offered an engagement in which her fee will be paid only if the pending sale of the property closes. Under the standards of practice and ethics, what should she do?
- A. Accept the engagement, since the fee amount itself is reasonable
- B. Decline the engagement, because a fee contingent on whether the sale closes is prohibited
- C. Accept the engagement but disclose the fee arrangement in the written report
- D. Accept the engagement only if the buyer and seller both consent in writing
Show answer & explanation
Answer: B
An inspector must not inspect a property for a fee tied to a contingent arrangement, such as a fee based on whether the sale closes. Disclosure or consent does not cure the prohibition; the contingent fee arrangement itself is barred.26. A lender asks an appraiser to take an assignment on the condition that the final report support a value at or above the pending contract price. Which statement best describes the appraiser's obligation?
- A. The appraiser may accept if the condition is documented in the engagement letter
- B. The appraiser may accept because lenders routinely set value expectations
- C. The appraiser must refuse, because accepting an assignment contingent on a predetermined value or a direction in value favoring the client violates the Ethics Rule
- D. The appraiser may accept but must charge a higher fee to offset the risk
Show answer & explanation
Answer: C
The Ethics Rule prohibits accepting an assignment that is contingent on reporting a predetermined value or a direction in value that favors the client. Putting the condition in writing or adjusting the fee does not make it permissible.27. An appraiser is offered an assignment involving a property type she has never appraised. Under the Competency Rule, which course of action is acceptable?
- A. Decline the assignment; there is no other permissible option
- B. Accept without comment, since competency is presumed once an assignment is accepted
- C. Accept, disclose the lack of competency, take steps to acquire the needed competency, and describe those steps in the report
- D. Accept, but omit any discussion of experience from the report
Show answer & explanation
Answer: C
The Competency Rule requires an appraiser to have the knowledge and experience to complete an assignment competently, or to disclose the lack of competency, take steps to acquire it, and describe those steps in the report. Declining is possible but not the only permissible path, so choice C is the best answer.28. A client asks an inspector to skip the written report and just walk her through the findings verbally to save time. The inspector's engagement must still include a written report because the standards require:
- A. A written report describing the systems and components inspected and stating which were in need of repair or not functioning as intended
- B. A written report only when a material defect is found
- C. A written report only for transactions involving a lender
- D. Whatever form of reporting the client and inspector agree to in the contract
Show answer & explanation
Answer: A
Standards require the inspector to provide a written report describing the systems and components inspected and stating which were found to be in need of repair or not functioning as intended. This obligation is not conditional on findings, lender involvement, or contrary contract terms.29. After completing an inspection, an inspector recommends a roofing contractor to the client. The contractor later mails the inspector a 'thank you' check for the referral. May the inspector keep it?
- A. Yes, because the payment came after the inspection contract was completed
- B. Yes, provided the client is told about the payment
- C. No, because an inspector may not accept compensation, directly or indirectly, for referring service providers to inspection clients
- D. No, unless the amount exceeds the inspection fee
Show answer & explanation
Answer: C
The ethics standards bar an inspector from accepting compensation, directly or indirectly, for referring or recommending contractors or other service providers to inspection clients. The timing of the payment and disclosure to the client do not change the prohibition.30. Two months after inspecting a home, an inspector is asked by the buyer to repair, for an additional fee, a plumbing component he flagged in his report. Which response is consistent with the ethics standards?
- A. He may take the job because the inspection contract has already been performed
- B. He must decline, because an inspector may not perform repairs for an additional fee on inspected systems for a period after the inspection, typically twelve months
- C. He may take the job if he discounts the repair fee
- D. He may take the job only if the seller also approves
Show answer & explanation
Answer: B
An inspector must not perform, for an additional fee, repairs to a system or component covered by the inspection for a period after the inspection, typically twelve months. Two months is within that window, so he must decline regardless of fee discounts or third-party approval.31. The listing agent on a transaction calls an inspector and asks for a copy of the findings from an inspection performed for the buyer. Absent client authorization or a legal requirement, the inspector should:
- A. Provide the report, since the agent is a party to the transaction
- B. Provide a summary but withhold the full report
- C. Refuse, because inspection findings must be kept confidential unless the client authorizes release or the law requires it
- D. Provide the report only if the agent pays a copy fee
Show answer & explanation
Answer: C
Inspectors must keep the findings of the inspection confidential unless authorized by the client or required by law. A listing agent's involvement in the transaction is neither client authorization nor a legal requirement, and a partial disclosure or a fee does not change that duty.32. When agreeing to take on an appraisal assignment, what does the Scope of Work Rule obligate the appraiser to do?
- A. Perform every possible analysis regardless of the assignment's purpose
- B. Identify the problem and perform the scope of work necessary to produce credible assignment results
- C. Let the client dictate exactly which analyses will be performed
- D. Match the scope of work used in the appraiser's most recent similar assignment
Show answer & explanation
Answer: B
The Scope of Work Rule requires the appraiser to properly identify the problem and determine and perform the scope of work necessary to produce credible assignment results. The scope is driven by credibility of results, not by exhaustiveness, client dictation, or habit.33. An appraiser gave testimony in a court case involving one of her appraisals. The case reached final disposition eighteen months after she prepared the workfile. How long must she retain that workfile?
- A. Two years after final disposition of the proceeding, because that period is always controlling
- B. At least five years after preparation, because in this case that period expires later than two years after final disposition
- C. Until the report is delivered to the client
- D. One year after the testimony is given
Show answer & explanation
Answer: B
The workfile must be retained at least five years after preparation or at least two years after final disposition of any judicial proceeding in which testimony was given, whichever is longer. Here, two years after a disposition occurring eighteen months post-preparation ends at three and a half years after preparation, so the five-year period after preparation is the longer one and controls.34. A buyer's inspection agreement describes the service to be performed. Which description of the engagement is consistent with the standard definition of a home inspection?
- A. An exhaustive technical evaluation in which equipment is dismantled as needed
- B. A non-invasive, visual examination of the readily accessible systems and components, performed for a fee, intended to identify material defects
- C. A free courtesy walkthrough with no obligation to identify defects
- D. A code-compliance certification that includes moving furniture to access every surface
Show answer & explanation
Answer: B
A home inspection is a non-invasive, visual examination of the readily accessible systems and components of a home, performed for a fee and intended to identify material defects. It is not technically exhaustive: the inspector need not move furniture, dismantle equipment, or perform procedures that risk damage to property or persons.