Residential Site Valuation and Cost Approach Exam Secrets
Taking the Residential Site Valuation and Cost Approach Exam Secrets and looking for an advantage? I’ve got you.
Our awesome customers have been blowing up our e-mail asking for the inside scoop to the Site Valuation and Cost Approach Exam . I’m happy to say that we are finally ready to deliver. It has taken months and months (and months) of interviews with appraisal students to get this data, so we appreciate your patience. We have been working hard as we can so that we can provide you the best possible information.
Now on to the goodies…
The Residential Site Valuation and Cost Approach Exam is for people who already have their trainee license and are studying to become a residential real estate appraiser. If this is not you, you are on the wrong blog post. Start Over Here!
The appraisal course focuses on the valuation of vacant land parcels and the development of the Cost Approach. Simple enough, right?
Let’s dive in…
Residential Site Valuation
The first step in developing the Cost Approach is placing a value on the land. According to our student surveys, the land valuation items that are covered in the exam mostly deal with:
1. Knowing the six methods used in land valuation (names can vary).
a. Sales Comparison
b. Extraction Method
c. Allocation Method
d. Subdivision Method
e. Land Residual Method
f. Qualitative Method
2. Understanding the difference between a qualitative adjustment and a quantitative adjustment.
3. Knowing the common adjustments used in the sales comparison method.
4. Knowing the measurements used to measure a site and the difference between excess and surplus land.
Here are a few site valuation questions we have seen repeatedly on the exam.
Residential Site Valuation and Cost Approach Exam Question #1
Residential Site Valuation and Cost Approach Exam Question #2
To be successful on the appraisal exam, you need to know the Residential Site Valuation vocab words and use your common sense. For example, in question #1, you should be able to determine the answer just by looking at the answers. There are very few absolutes in life. When you see answers that deal in absolutes, it should raise a red flag.
The Cost Approach
1. Depreciation
a. The Economic Age/Life Method (also called the straight-line method) is probably the most common depreciation technique used by residential appraisers. Therefore, most of the test questions are based on this method.
Residential Site Valuation and Cost Approach Exam Question #3
Be aware that the average difficulty of this test was rated a 6.3 out of 10.
That is it!
We hope you all kick ass on your appraisal exam. If you are still not feeling confident about this exam, we can help.
After surveying over 50 students who have recently finished the Residential Site Valuation and Cost Approach test, we have compiled over 60 test questions that were on past exams. You can get all the exam questions by CLICKING THIS LINK !
It helps keep our lights on and is backed by our 100% money back guarantee. If you buy the questions and do not pass, we refund every penny.
Cheers guys!