SAEE Cheat Sheet 2026

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

1. What does the principle of substitution state in the context of the market approach? → A buyer will pay no more than the cost to acquire an equally desirable substitute property
2. Consistent use theory requires that land and improvements be valued: → On the basis of the same use
3. The difference between price and value is best described as: → Price is what was paid; value is worth under defined conditions
4. Secondary data refers to data that is: → Obtained from existing sources
5. Which of the following items is typically classified as a capital expenditure rather than an operating expense? → Roof replacement
6. Which sentence contains a dangling modifier? → After finishing the exam, the hallway was crowded with students.
7. Which of the following best describes the IVS principle of objectivity? → The valuer must not allow bias or conflicts to influence conclusions
8. Which sentence contains a comma splice? → The students studied hard, they passed the exam.
9. Which right within the bundle of rights allows an owner to sell, lease, or give away property? → Right of disposition
10. In a sequence 2, 6, 12, 20, 30, what is the next number? → 42
11. In the cost approach, which formula correctly states the value indication? → Land value + (cost new - depreciation)
12. What is the 'scope of work' under IVS intended to establish before a valuation begins? → The terms, extent, and limitations of the engagement
13. An item about resolving conflicts among coworkers measures experience in: → Conflict resolution and interpersonal skills
14. An outlier in a data set is a value that: → Lies far from the other values
15. If 5 workers build a wall in 6 days, how long for 10 workers at the same rate? → 3 days
16. A zoning change that permits commercial use on residential land most directly affects which test of highest and best use? → Legal permissibility
17. What is the equity dividend rate (cash-on-cash return)? → Pre-tax cash flow divided by equity investment
18. What is the significance of police power in real property valuation? → It allows government to regulate land use without compensation, affecting property values
19. A professional should disclose a conflict of interest: → As soon as it becomes apparent
20. Which of the following best describes the principle of 'holding paramount' in engineering ethics? → Ensuring public safety, health, and welfare take precedence in all professional decisions
21. Which sentence uses correct capitalization? → We visited the Grand Canyon in Arizona.
22. Which of the following best describes 'Investment Value' under IVS? → Value to a particular owner for specified objectives
23. The mean of 5, 10, 15, and 20 is: → 12.5
24. What does PRD stand for in the context of mass appraisal ratio studies? → Price-Related Differential
25. In mass appraisal, which model type assumes that property value equals the sum of the values of its individual components? → Additive model
26. Under USPAP, which section specifically addresses the reporting requirements for real property appraisals used in senior appraisal exam contexts? → Standards Rule 2-2
27. Under the IVS income approach, what is the discount rate intended to reflect? → The risk associated with the expected future cash flows of the asset being valued
28. If demand for a particular use does not yet exist but is expected to develop, the property's current highest and best use is most likely a: → Speculative or interim use
29. What does 'liquidation value' under IVS typically assume? → A forced or constrained sale, often within a limited time
30. Fairness in evaluating a colleague's performance means judging based on: → Objective standards and actual results