Practice Florida real estate appraisal with 10 free questions on value, comparables, depreciation, income, and USPAP. Get a score, clear explanations, and the reason each wrong choice fails. No account needed.
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10 practice questions on appraisal, scored, each with a full explanation after you answer. Every question is also written out below if you would rather study at your own pace.
All 10 questions and explanations are free. Real Estate Appraisal carries 8% of the published sales associate exam outline, about 8 questions. This small practice set does not predict your state-exam score.
01 / Choose the approach
The property's use and the available data guide the choice. More than one approach may contribute to a credible value opinion.
What are buyers paying for similar properties?
Analyze relevant sales and adjust each comparable for differences from the subject. Consider listings, contracts, and market trends as supporting evidence.
What would equivalent improvements cost today?
Estimate land value and current improvement cost, then deduct accrued depreciation from the improvements.
What income can this property support?
Convert a supported income stream into an indication of value. Direct capitalization uses annual NOI divided by an overall cap rate.
The appraiser considers the approaches and develops those needed for credible results, with any applicable assignment requirements. The final conclusion reflects the quality of the evidence. It is not automatically an average of three numbers, and the highest number does not win merely because it is highest.
Fannie Mae's guide supplies additional requirements for assignments within its scope. Those requirements should not be presented as rules for every appraisal in Florida.
IRS real property valuation guidelines, 4.48.6.2.4 · Fannie Mae, cost and income approaches
02 / Use the right meaning of value
Start with the purpose, property interest, and effective date. The same property can have different figures that each answer a different question.
Fannie Mae, definition of market value explains market-value assumptions. FREC Course I syllabus, Sections 1 and 16 distinguishes the value concepts tested on the exam. An effective date is the date the value opinion applies to; it need not be the date the report is delivered.
These short references extend beyond the scored set. Learn the difference that changes the answer.
Demand means desire backed by purchasing power. Utility is usefulness. Scarcity concerns limited supply relative to demand. Transferability concerns the ability to convey ownership rights. A desirable property still needs a market capable of buying it.
Substitution asks what a buyer would pay for an equally desirable alternative without undue delay. Contribution asks how much a feature adds to the property's value. A renovation's cost and its contribution need not match.
Additional improvements may initially add more value than they cost. Beyond a point, another dollar of expenditure can add less than a dollar of value. A costly improvement that the market does not sufficiently reward may be an over-improvement.
Conformity concerns compatibility with market expectations for the area. Progression describes a lower-value property's benefit from association with better surrounding properties; regression describes a higher-value property's loss from association with less desirable surrounding properties. These are market effects, not instructions to judge the people who live there.
Assemblage combines separate parcels. Plottage is the increase in value that may result from the combination. If separate parcels are worth $200,000 and $250,000, and the combined tract is worth $500,000, the plottage increment is $50,000. Combining lots does not guarantee that gain.
Consider the quality, relevance, and reliability of the data and approaches. Reconciliation is not automatically the arithmetic average of three indications. The best-supported approach may deserve more weight, and an approach that is not necessary for credible results need not be developed merely to fill a box.
FREC Course I syllabus, Sections 1 and 16 · Fannie Mae, cost and income approaches
03 / Work from the formula
Try each example before opening the solution. These five additional calculations use stated assumptions and are separate from your quiz score.
Value = annual NOI ÷ cap rate
Enter 9% as 0.09. Rearrange: NOI = value × rate; rate = NOI ÷ value.
Value = land + improvement cost − accrued depreciation
Apply building depreciation to improvements, not to the combined land-and-building amount.
Depreciation fraction = effective age ÷ total economic life
Multiply that fraction by the improvement cost. Effective age is not always chronological age.
GRM = price ÷ gross rent; value = rent × GRM
Use the same rent period and income basis for the multiplier and the subject.
Formula reference: FREC Course I syllabus, Sections 1 and 16. The income figures and adjustment amounts below are examples, not current property quotes or market-rate recommendations.
Worked calculation 01
A comparable sold for $450,000. It has a pool the subject lacks, with a supported contribution of $20,000. It has one fewer bathroom, with a supported adjustment of $15,000. Assume all other differences need no adjustment.
Adjusted comparable = sale price − superior features + inferior features
The net adjustment is −$5,000; the total absolute adjustments are $35,000. This is one comparable's indication, not automatically the final appraisal. The amounts are stated market contributions, not construction bills.
Worked calculation 02
Land value is $120,000. Improvements would cost $300,000 to replace. Effective age is 10 years and total economic life is 50 years. Assume the age-life method captures all accrued depreciation for this exercise and there are no other components to add.
Value = land + improvement cost − accrued depreciation
Depreciating the combined $420,000 would wrongly apply building depreciation to the land. Replacement cost supplies equivalent utility; reproduction cost creates a replica. Land can lose market value, but it is not given building age-life depreciation here.
Worked calculation 03
Potential gross rent is $144,000 a year. Vacancy and collection loss are 5% of that rent. Other annual income is $3,200. Operating expenses are $50,000, including the replacement reserve required by this exercise. Annual mortgage debt service is $30,000. The supported cap rate is 9%.
Effective gross income − operating expenses = NOI
The $30,000 debt service does not reduce NOI. In this simplified example it leaves $60,000 after debt service, before income tax and other owner-level items. Reserve treatment must be consistent with the supplied income and cap-rate basis.
Worked calculation 04
A comparable rental sold for $480,000 and has gross rent of $60,000 a year, or $5,000 a month. A similar subject rents for $66,000 a year, or $5,500 a month. Assume the comparable multiplier is appropriate and both properties use the same income basis.
Price ÷ gross rent = GRM; subject rent × GRM = indicated value
Both routes give the same indication when the periods match. A GRM of 8 is a multiplier, not an 8% cap rate. GRM uses rent; GIM may use a broader gross-income base. Neither deducts operating expenses, so comparable expense patterns still matter.
Worked calculation 05
Assume annual NOI remains $90,000. Compare the value indications at market-supported cap rates of 9% and 10%. Everything else is held constant for this illustration.
Value = annual NOI ÷ cap rate
A higher cap rate means a lower value when NOI stays fixed. The rate rose by one percentage point, not by 1% of its former level. In real analysis, income expectations and the appropriate rate may both change.
In appraisal, depreciation means loss in value from any cause. It is different from an income-tax depreciation deduction.
Wear, damage, or deferred maintenance
Worn roof covering or damaged flooring.
May be curable or incurable. Physically possible to repair does not necessarily mean economically justified.
A deficiency or excess in the design or utility
An inefficient floor plan or an over-improvement buyers do not reward.
May be curable or incurable. Modernizing a feature is not always worth its cost.
An influence outside the property
Documented loss in value from nearby highway noise.
Generally incurable by the owner. It is not the same as physical damage to the building.
A curable item generally costs no more to correct than the value the correction adds. Test economic justification instead of assuming every physical or design problem is curable. FREC Course I syllabus, Sections 1 and 16
04 / Test the proposed use
Analyze the land as if vacant and, where relevant, the property as improved. Existing improvements may remain useful until replacing or removing them is financially justified.
Do zoning, recorded restrictions, and other applicable rules permit the use?
Can the site accommodate it, given size, access, shape, terrain, and utilities?
Does the supported value or return justify the necessary costs?
Which feasible use produces the highest value?
A vacant site can legally and physically support either residential use or offices, and both are financially feasible. Supported site values are $240,000 for residential use and $275,000 for offices. A retail proposal suggests $310,000, but it is prohibited and a change in the restriction is not reasonably probable. Assume these are the only supported alternatives.
Offices, at $275,000. The retail proposal fails legal permissibility on the stated facts. Residential use passes the first three tests but is less productive than offices. These figures are supported site values for the exercise, not simply competing gross-revenue forecasts.
05 / Recognize the service and its standards
Similar market data can be used for different services. The intended use, applicable law, qualifications, and how the result is represented all matter.
A value opinion developed for an identified assignment. Applicable appraisal standards, qualification rules, and reporting requirements govern the work.
The appraiser's conclusion must be supported and impartial. It is not a promise to meet the contract price or protect a client's preferred number.
IRS real property valuation guidelines, 4.48.6.2.4A brokerage analysis commonly used to help a seller set a listing price or a buyer frame an offer. Closed sales, current competition, and market conditions help support the pricing range.
Florida's ordinary-course brokerage exception does not permit calling that CMA an appraisal.
F.S. 475.612, valuation services, CMAs, and price opinionsA price opinion for an identified client purpose, often presented in a specified format. Its name does not give it the status of an appraisal.
Check whether the intended assignment requires an appraisal and whether the person is qualified and authorized to perform it. A BPO is not a substitute wherever an appraisal is required.
F.S. 475.25(1)(t), appraisal standards and the CMA/BPO exceptionThe Appraisal Foundation identifies the standards effective January 1, 2024 as the current edition, with no scheduled end date. Its guidance and course publications follow different update schedules. A 2026 Guidance and Reference Manual is a companion to the standards, not proof of a new standards edition.
The Foundation also adopted Advisory Opinion 41 on technology use in April 2026. Guidance helps apply USPAP; it should not be confused with a replacement edition of the enforceable standards.
The Appraisal Foundation, current USPAP and guidance updates · The Appraisal Foundation, USPAP edition and course dates
A client can communicate assignment conditions. The appraiser still decides whether those conditions allow enough relevant research and analysis. If suitable sales are scarce, useful evidence may lie in a competing market area or an older sale with supported adjustments. A fixed distance alone does not make a sale comparable.
If the restriction prevents credible results, seek to revise it or decline the assignment. Do not confuse a particular lender's reporting requirements with a universal USPAP search rule.
The Appraisal Foundation, appraiser questions and answers · Fannie Mae, choosing comparable sales
F.S. 475.612(2) permits compensated valuation services by Florida real estate licensees who are not credentialed under the appraiser part, provided they do not represent themselves as certified, licensed, or registered under that part. This does not remove assignment-specific requirements or confer an appraiser credential.
F.S. 475.25(1)(t) addresses professional appraisal standards and separately exempts ordinary-course CMAs and BPOs, which cannot be represented as appraisals. A sales associate remains under the employing broker. Florida's appraiser credentials are administered through DBPR and FREAB under Part II of Chapter 475; brokerage licensure is a separate framework.
F.S. 475.612, valuation services, CMAs, and price opinions · F.S. 475.25(1)(t), appraisal standards and the CMA/BPO exception · DBPR, Florida Real Estate Appraisal Board
06 / Review every answer
Open the concept you want to review. Every question, answer, wrong-choice explanation, and source is available without completing the quiz or signing in.
Try each question before opening its answer. These are original practice items, not actual or recalled Pearson VUE exam questions.
Question 1 · apr-1 · Choose the supported approach
Answer C. the sales comparison approach
With a typical home and many recent, comparable sales, sales comparison is the strongest fit among these choices. The appraiser analyzes relevant sales and adjusts for meaningful differences. The assignment may still call for other approaches; the property label alone does not decide every appraisal.
Remember: Choose the approach supported by the stated evidence. Do not assume that every home requires only sales comparison or that every rental can be valued from income alone.
A. the cost approach
Cost can help when improvement cost and depreciation are reliably supported. The unusually good sales evidence here makes sales comparison the better answer.
B. the income approach
Income is useful when an income stream supports the analysis. The question instead emphasizes a typical home with many comparable sales.
D. the gross rent multiplier method
GRM relies on comparable rent relationships. No rental data are supplied, and the direct sales evidence fits the assignment.
Sources: Fannie Mae, sales comparison approach · Fannie Mae, cost and income approaches
Report a problem with apr-1Question 2 · apr-2 · Market-supported comparable adjustments
Answer A. subtract the pool's value from the comparable, because the comparable is superior in that feature
Subtract the pool’s $20,000 contribution from the comparable’s sale price. The comparable has a superior feature, so a downward adjustment makes it more like the subject. In the standard comparison grid, adjustments are made to comparables. The amount comes from market evidence, not automatically from the owner’s installation cost.
Remember: Superior comparable feature: subtract. Inferior comparable feature: add. First establish that the market actually values the difference; a pool is not automatically worth the same amount in every market.
B. add the pool's value to the subject property
Adding to the subject bypasses the comparison-grid method. Adjust the comparable’s sale price to reflect the subject’s characteristics.
C. add the pool's value to the comparable
Adding would make an already superior comparable even higher. The stated positive contribution calls for subtraction.
D. make no adjustment, because amenities are ignored
The question supplies evidence of a $20,000 contribution. Ignoring that supported difference would distort the comparison.
Sources: Fannie Mae, adjustments to comparable sales · FREC Course I syllabus, Sections 1 and 16
Report a problem with apr-2Question 3 · apr-3 · Cost approach for special-purpose property
Answer D. the cost approach
Cost is the best fit on these facts: the building is new and the sales and rental evidence is limited. Estimate supported land value, add reproduction or replacement cost of improvements, and deduct accrued depreciation. Special-purpose use is a useful clue, but adequate cost, land, and depreciation evidence is still needed.
Remember: New does not always mean zero depreciation. Functional or external obsolescence can affect a new building, too.
A. the sales comparison approach
Sales comparison needs suitable market evidence. The question specifically says there are very few comparable sales.
B. the income approach
An income analysis needs a supported income stream and an appropriate conversion method. The stated rental evidence is weak.
C. the gross rent multiplier method
A rent multiplier depends on comparable rental data. It does not solve the lack of rental evidence in this scenario.
Sources: IRS real property valuation guidelines, 4.48.6.2.4 · FREC Course I syllabus, Sections 1 and 16
Report a problem with apr-3Question 4 · apr-4 · Direct capitalization: NOI divided by rate
Answer B. $1,000,000
Direct capitalization uses value = annual NOI ÷ capitalization rate. Convert 9% to 0.09, then calculate $90,000 ÷ 0.09 = $1,000,000. NOI measures property operations before mortgage debt service. The rate must match the income basis and be supported by the market.
Remember: Use 0.09, not 9. Divide income by the rate. A cap rate is not the property’s mortgage interest rate.
A. $810,000
$810,000 does not follow $90,000 ÷ 0.09. Check the formula and the percentage conversion.
C. $900,000
$900,000 would result from a 10% cap rate, not the stated 9%.
D. $1,200,000
$1,200,000 would imply a 7.5% cap rate on $90,000 of NOI. That is not the rate given.
Sources: FREC Course I syllabus, Sections 1 and 16 · IRS real property valuation guidelines, 4.48.6.2.4
Report a problem with apr-4Question 5 · apr-5 · External versus physical and functional loss
Answer C. external obsolescence, which is generally incurable
The documented loss comes from an influence outside the property, so it is external, or economic, obsolescence. Physical deterioration concerns wear or damage; functional obsolescence concerns design or utility. External obsolescence is generally incurable by the owner, which matches the highway-noise facts.
Remember: Curable means economically justified to correct, not merely possible to change. Physical deterioration and functional obsolescence can each be curable or incurable.
A. physical deterioration
The question does not describe wear or damage to the building. It identifies an outside influence.
B. functional obsolescence
Functional obsolescence concerns a property’s design or utility. Here, the stated cause is the neighboring highway.
D. accrued depreciation that the owner can repair
Accrued depreciation is the overall loss from all causes. This choice also incorrectly says the owner can repair the outside cause.
Sources: FREC Course I syllabus, Sections 1 and 16 · IRS real property valuation guidelines, 4.48.6.2.4
Report a problem with apr-5Question 6 · apr-6 · Market value versus market price
Answer A. market price, the amount actually paid in a specific transaction
Market price is the amount actually paid in a specific transaction. A market-value opinion applies stated assumptions about motivation, knowledge, exposure, and terms as of an effective date. An unusual buyer may pay more or less than the market-value indication. An appraisal is an opinion supported by analysis, not a guarantee of a future sale price.
Remember: A completed sale is evidence to analyze. It does not automatically prove that its price equals market value under the assignment’s definition.
B. market value, because a sale always sets value
A single transaction can depart from market-value assumptions. The buyer’s unusual motivation is an explicit clue.
C. assessed value
Assessed value belongs to the property-tax process. It is not the label for the amount a buyer just paid.
D. replacement cost
Replacement cost estimates the cost of improvements with equivalent utility. It does not name this transaction’s sale price.
Sources: Fannie Mae, definition of market value · FREC Course I syllabus, Sections 1 and 16
Report a problem with apr-6Question 7 · apr-7 · Annual GRM and matching rent periods
Answer B. 8.0
Annual GRM = price ÷ gross annual rent. Here, $480,000 ÷ $60,000 = 8.0. If the same rent were expressed as $5,000 per month, the monthly GRM would be 96. Use the same period and income basis for the multiplier and any subject rent to which it is applied.
Remember: GRM uses gross rent before expenses and is a multiplier, not a percentage. An 8.0 GRM is not an 8% capitalization rate.
A. 6.0
A multiplier of 6 would imply $360,000 at $60,000 annual rent, not the stated sale price.
C. 10.0
A multiplier of 10 would imply $600,000 at the given annual rent.
D. 12.0
A multiplier of 12 would imply $720,000. Do not use 12 merely because there are 12 months in a year.
Sources: FREC Course I syllabus, Sections 1 and 16
Report a problem with apr-7Question 8 · apr-8 · Scope of work and credible results
Answer D. independently determine an adequate scope of work, and revise or decline the assignment if the restrictions prevent credible results
The appraiser must determine the research and analysis needed for a credible result. The client can communicate the assignment’s intended use and conditions, but a geographic limit or approach restriction cannot justify an unsupported conclusion. If the restriction prevents adequate work, seek a revision or decline the assignment.
Remember: Three comparables inside half a mile are not a universal USPAP rule. Depending on the market, the most useful comparable may be farther away, older, or in a competing area.
A. follow the instructions exactly, because the client controls the methodology
The client’s instruction does not transfer responsibility for credible analysis away from the appraiser.
B. refuse the assignment, because a lender may not specify anything
Clients can set legitimate assignment conditions. Refusing every assignment that includes a condition is not the rule.
C. report the lender to the state for a violation
A requested restriction does not by itself establish a reportable legal violation. First determine whether credible work is possible.
Sources: The Appraisal Foundation, appraiser questions and answers · Fannie Mae, cost and income approaches · Fannie Mae, choosing comparable sales
Report a problem with apr-8Question 9 · apr-9 · Highest and best use: four tests
Answer A. highest and best use
Highest and best use identifies the reasonably probable use that passes all four tests: legal permissibility, physical possibility, financial feasibility, and maximum productivity. Analyze the site as if vacant and, where relevant, as improved. The answer is not automatically the current use or the use with the highest gross income.
Remember: A profitable-looking plan still fails if it cannot legally or physically be carried out. A reasonably probable change in restrictions requires support, not a guess.
B. replacement cost
Replacement cost estimates equivalent improvement utility. It does not determine which use passes the four tests.
C. external obsolescence
External obsolescence describes a loss in value from outside influences. It is not the name of the four-test analysis.
D. gross rent multiplier
GRM is a ratio based on price and gross rent. It does not perform the legal, physical, and feasibility analysis.
Sources: Fannie Mae, site analysis and highest and best use · FREC Course I syllabus, Sections 1 and 16
Report a problem with apr-9Question 10 · apr-10 · CMA, BPO, and Florida practice boundaries
Answer C. a comparative market analysis, not an appraisal
These facts describe a comparative market analysis to inform a listing-price decision. F.S. 475.612(3) permits a broker or sales associate to perform a CMA or price opinion in the ordinary course of business, but it must not be referred to or construed as an appraisal. A sales associate works under the employing broker. Calling the work certified would also misrepresent the stated service.
Remember: The data can overlap with an appraisal, but the service and its permitted representation still matter. A brokerage license does not automatically confer an appraiser credential.
A. a certified appraisal
A CMA cannot be represented as an appraisal. The facts also establish no state appraisal certification.
B. an assessed value
A tax assessment is produced for a different purpose. This is a brokerage pricing analysis.
D. a title opinion
A title opinion concerns title issues, not the likely listing-price range shown by comparable market activity.
Sources: F.S. 475.612, valuation services, CMAs, and price opinions · F.S. 475.25(1)(t), appraisal standards and the CMA/BPO exception · FREC Course I syllabus, Sections 1 and 16
Report a problem with apr-10Your next step toward exam day
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07 / Check the full exam outline
The published Appraisal outline has five main headings. This map separates the scored questions and supporting references from topics that deserve more practice.
In this resource: Scope of work, independence, the current USPAP edition, and Florida practice boundaries.
Also review: Review the roles of the ASB, AQB, ASC, and FREAB, plus credentials and federally related transactions.
In this resource: Value versus price and cost, DUST, valuation principles, and highest and best use.
Also review: Review investment, insurance, liquidation, salvage, and going-concern value in the context of each assignment.
In this resource: All three approaches, depreciation, reconciliation, and five worked calculations.
Also review: Practice more multi-adjustment comparables, cost estimates, income statements, and GRM/GIM cases.
In this resource: A listing-price scenario and the Florida CMA/appraisal distinction.
Also review: Practice selecting sold, active, and pending properties and explaining a supported pricing range.
In this resource: Its purpose and legal labeling in the comparison guide; not a separate scored question.
Also review: Review the client's intended use, compensation, broker supervision, and whether the assignment requires an appraisal.
DBPR exam outline, Section XVI supplies the 8% exam weight and five headings. FREC Course I syllabus, Sections 1 and 16 supplies the course objectives, including valuation principles, age-life depreciation, and reconciliation.
First identify the assignment: which property interest, which type of value, and which effective date? A sale price, a tax assessment, and an opinion of market value answer different questions. Then choose the approach supported by the property and the available evidence.
For a comparable adjustment, ask whether the comparable is superior or inferior in that particular feature and how the market values the difference. For a calculation, label gross rent, NOI, improvement cost, land value, and the time period before choosing a formula.
Finish by checking the conclusion. A single adjusted sale is not necessarily the final value. A GRM is not a cap rate. Reconciliation weighs evidence, and a broker’s CMA or BPO must not be represented as an appraisal. Learn the reason for each distinction so it still makes sense in a different scenario.
Questions about appraisal practice
Real Estate Appraisal carries 8% of the published DBPR sales associate exam outline, about 8 questions on the 100-question exam. Its five main headings cover regulation and USPAP, market value, approaches to value, CMA, and BPO. This free set has 10 original questions and does not cover every possible exam scenario.
Sales comparison analyzes comparable sales and their differences from the subject. Cost-depreciation combines land value with improvement cost less accrued depreciation. The income approach converts supported income into a value indication; direct capitalization uses annual NOI divided by a cap rate. Select the approaches needed for credible results, rather than assigning exactly one method to every property type.
In the standard sales comparison grid, adjust the comparable’s sale price toward the subject. Subtract for a superior comparable feature and add for an inferior one. Support the amount with market evidence. A pool’s installation cost, for example, is not automatically the amount buyers will pay for it.
Add land value to the reproduction or replacement cost of improvements, then subtract accrued improvement depreciation. If land is worth $120,000, improvement cost is $300,000, and accrued depreciation is $60,000, the indication is $360,000. Do not apply building age-life depreciation to the land value.
Physical deterioration is wear or damage. Functional obsolescence concerns a deficiency or excess in design or utility. External, or economic, obsolescence comes from an outside influence and is generally incurable by the owner. Physical and functional problems can each be curable or incurable; economic justification matters, not just whether a repair is possible.
Start with potential gross income, deduct vacancy and collection loss, add other income, and subtract operating expenses. Mortgage debt service, income-tax depreciation, and the owner’s income taxes do not reduce NOI. For exam calculations, follow the stated treatment of replacement reserves and keep the income basis consistent with the cap rate.
GRM divides price by gross rent and produces a multiplier. A cap rate divides annual NOI by value and is usually expressed as a percentage. Price of $480,000 and annual gross rent of $60,000 give an annual GRM of 8, not an 8% cap rate. Match monthly rent with a monthly multiplier and annual rent with an annual multiplier.
The use must be legally permissible, physically possible, financially feasible, and maximally productive. Consider the site as if vacant and, where relevant, as improved. A proposed use with high revenue can still fail because it is prohibited, cannot fit the site, or does not justify its costs.
A CMA commonly supports a listing or offer decision through market comparisons. A BPO gives a price opinion for an identified client purpose. F.S. 475.612(3) permits these ordinary brokerage services but prohibits referring to or construing them as appraisals. Appraisal work has separate standards and credential rules, including applicable Florida exceptions. A sales associate remains under the employing broker.
The appraiser determines the research and analysis necessary for credible assignment results. A client can supply legitimate conditions, but cannot make an inadequate analysis acceptable by requesting it. If a restriction prevents credible work, the appraiser should seek to revise it or decline. USPAP does not impose one universal half-mile search limit for comparable sales.
The Appraisal Foundation identifies the edition effective January 1, 2024 as the current USPAP standards. It has no scheduled end date. Guidance publications and update courses can carry later dates, so a 2026 manual or course title does not itself mean there is a new 2026 edition of the standards. Applicable state law and assignment requirements also matter.
These are original Pass Florida questions, not copied or recalled Pearson VUE exam items. All 10 questions, correct answers, 30 wrong-choice explanations, and five worked calculations are free without an account. For more practice across all 19 areas, open the web app or download Pass Florida for iPhone or Android.
Sources and editorial review
Published by Pass Florida. Reviewed on for rules in effect through .
This review checked the questions and explanations against the DBPR outline, FREC Course I syllabus, Florida law, IRS valuation guidance, Fannie Mae's published appraisal guidance, and The Appraisal Foundation's current resources.
Florida practice rules are distinguished from assignment-specific lender guidance. The free calculations use stated assumptions. No adjustment amount, rental multiplier, or cap rate on this page is presented as a current market quote.
Found an error? Use the correction link under a question or send the question ID and supporting source.
Review a definition, worked example, or common exam trap before your next quiz.