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. If an appraiser's opinion of value is subject to a hypothetical condition, the report must: → State the condition is assumed to be true even though it may be false
5. A table shows test scores for 5 students: 72, 85, 90, 68, 95. What is the median score? → 85
6. Secondary data refers to data that is: → Obtained from existing sources
7. Which of the following items is typically classified as a capital expenditure rather than an operating expense? → Roof replacement
8. Which sentence contains a dangling modifier? → After finishing the exam, the hallway was crowded with students.
9. Which of the following best describes the IVS principle of objectivity? → The valuer must not allow bias or conflicts to influence conclusions
10. Which sentence contains a comma splice? → The students studied hard, they passed the exam.
11. Which right within the bundle of rights allows an owner to sell, lease, or give away property? → Right of disposition
12. Which type of depreciation is caused by negative forces outside the property boundaries, such as a nearby industrial plant? → External obsolescence
13. In a sequence 2, 6, 12, 20, 30, what is the next number? → 42
14. Market conditions adjustments (time adjustments) should be based on: → Paired sales or resale data that demonstrate actual price change over time
15. An administrator notices that schools with more library books also tend to have higher reading scores. This relationship is best described as: → Correlation
16. In the cost approach, which formula correctly states the value indication? → Land value + (cost new - depreciation)
17. Which word correctly completes the sentence: 'The committee made _____ decision unanimously.' → their
18. Under the concept of police power, a municipality may: → Regulate land use through zoning without compensation
19. Which sentence uses a comma correctly? → She loves cooking, her family, and her dog.
20. What is the 'scope of work' under IVS intended to establish before a valuation begins? → The terms, extent, and limitations of the engagement
21. Choose the correctly punctuated sentence. → It's a beautiful day, isn't it?
22. Which of the following best describes an 'arm's length' transaction in the context of mass appraisal sales ratio studies? → A sale between unrelated, motivated parties with adequate market exposure
23. Which of the following best illustrates a 'speculative use' in HBU analysis? → A parking lot held pending future development
24. An item about resolving conflicts among coworkers measures experience in: → Conflict resolution and interpersonal skills
25. An outlier in a data set is a value that: → Lies far from the other values
26. A court rules that a neighbor has acquired an easement by prescription. For this to occur, the use must have been: → Open, notorious, hostile, and continuous for the statutory period
27. If 5 workers build a wall in 6 days, how long for 10 workers at the same rate? → 3 days
28. A zoning change that permits commercial use on residential land most directly affects which test of highest and best use? → Legal permissibility
29. Complete the analogy — Composer : Symphony :: Architect : ___ → Building
30. What is the equity dividend rate (cash-on-cash return)? → Pre-tax cash flow divided by equity investment