VIP Exclusive
Certified Appraisal Reviewer (CAR) VIP Practice Exam
CAR — The Certified Appraisal Reviewer (CAR) designation is awarded by the National Association of Real Estate Appraisers (NAREA); the credentialing examination tests knowledge of USPAP Standards 3 and 4, appraisal methodology across all three approaches to value, regulatory requirements (FIRREA, AIR), and the identification and resolution of appraisal deficiencies.
29
Questions
120m
Time Limit
75.00%
To Pass
Question 1 of 29👑 VIP
A review appraiser is engaged to perform a technical review of a single-family residential appraisal for a federally regulated lender. After examining the report, the reviewer determines that the appraiser selected comparable sales from a neighborhood with significantly different market conditions than the subject property — specifically, an area with much higher appreciation rates — and made no adjustment for market conditions differences. Under USPAP Standard 3, which conclusion must the reviewer reach?
Questions 2–29 and full explanations are VIP-exclusive.