CAE Cheat Sheet 2026

The 30 highest-yield CAE facts, distilled from real exam questions. Print it, save it as a PDF, or study it here — free, no sign-up.

1. What is the purpose of calibration in a mass appraisal model? → To adjust the model to reflect market data
2. How should challenges in industry best practices be addressed? → Apply systematic problem-solving, seek expert guidance when needed, and document decisions
3. A comparable sold for $250,000 and has a garage the subject lacks, worth $15,000 in that market. What is the adjusted price of the comparable? → $235,000
4. What ethical standard governs continuing education requirements practice? → Adherence to the profession's code of ethics and applicable laws and regulations
5. When a field appraiser cannot access a property's interior, the record should show: → That the interior was not inspected and the source of any assumed data
6. Which of the following is a payment made by a tax-exempt entity to a local government in place of property taxes? → PILOT
7. What quality assurance measure supports continuing education requirements? → Regular self-assessment, peer review, and adherence to established standards
8. Which practice is LEAST appropriate for an assessor answering media questions about a revaluation? → Speculating about specific owners' tax bills before rates are set
9. What is the first step a property owner typically must take before filing a formal appeal of their assessment? → Seek an informal review or conference with the assessor's office
10. What is the primary purpose of a tax rate in the context of property taxation? → To calculate the amount of tax owed based on assessed value
11. In the sales comparison approach, which adjustment is normally made first in the recommended sequence? → Property rights conveyed
12. A taxpayer disputes a value increase at the counter. What should the assessor's staff provide first to support transparency? → A copy of the property record card and the comparable sales or data used
13. What quality assurance measure supports assessment and evaluation? → Regular self-assessment, peer review, and adherence to established standards
14. A new landfill opens next to a residential neighborhood, and nearby home values drop. What type of depreciation is this? → External (economic) obsolescence
15. What is the primary principle behind the sales comparison approach? → Substitution
16. An assessor accepts season tickets from a developer whose properties are under appeal. Which ethical principle is most directly violated? → Avoiding gifts that create a conflict of interest or appearance of impropriety
17. Which entity in most U.S. states is responsible for administering exemptions such as the homestead exemption? → Local county or municipal assessor
18. In mass appraisal, what is the significance of stratification? → To group similar properties for analysis
19. Which valuation method is most appropriate for income-producing properties? → Income approach
20. What ethical standard governs assessment and evaluation practice? → Adherence to the profession's code of ethics and applicable laws and regulations
21. What is the foundational principle of professional standards and ethics in the Certified Assessment Evaluator field? → Maintaining competence, integrity, and service to stakeholders
22. An assessor discovers that a state statute requires a valuation method that conflicts with a USPAP requirement. Which USPAP rule addresses this situation? → Jurisdictional Exception Rule
23. When writing a narrative explaining a commercial property's income approach value to an appeal board, which should be included? → Market rent, vacancy, expenses, and capitalization rate with their sources
24. When valuing small apartment buildings with the sales comparison approach, which unit of comparison is commonly used? → Price per apartment unit
25. What is the primary ethical purpose of maintaining an adequate workfile? → To support the appraiser's opinions and conclusions and demonstrate USPAP compliance
26. Which principle requires that all taxable property within a jurisdiction be assessed at the same percentage of market value? → Uniformity
27. In Nordlinger v. Hahn (1992), the U.S. Supreme Court upheld which assessment practice? → California's acquisition-value system under Proposition 13
28. What does 'exhaustion of administrative remedies' require of a taxpayer before seeking judicial review? → The taxpayer must use all available administrative appeal steps before going to court
29. A property produces net operating income of $80,000, and the market capitalization rate is 8%. What is its indicated value by direct capitalization? → $1,000,000
30. Under IAAO standards, what COD range is acceptable for newer or fairly homogeneous single-family residential properties? → 5.0 to 10.0