10 chapters · 43 lessons · about 8 hours. Each lesson teaches one concept from the official appraiser licensing exam outline, then hands you ten practice questions to prove it.
▶ 20 video lessons — watch free5 lessons · ~56 min
Standards 1 & 2
Separate development (Std 1) from reporting (Std 2) and what each one demands.
The Ethics Rule
Apply conduct, management and confidentiality — including what a client may never buy.
Competency & Scope of Work
Use the Competency Rule’s acquire-or-decline logic and defend a scope-of-work decision.
Hypotheticals & Extraordinary Assumptions
Tell a hypothetical condition from an extraordinary assumption and disclose each correctly.
Workfiles & Appraisal Review
Keep the 5-year/2-year workfile and know what Standards 3/4 ask of a reviewer.
5 lessons · ~60 min
Legal Descriptions
Read metes and bounds, lot and block, and the rectangular survey system.
Rights, Estates & Encumbrances
Sort fee simple, life estates, easements and liens — the bundle of rights on the exam.
Zoning & Highest and Best Use
Run the four HBU tests in order and handle legal nonconforming uses.
Construction & Condition Ratings
Rate quality and condition from building components the way report forms expect.
Measurement & GLA
Compute GLA to standard: above grade only, measured to the exterior, basements excluded.
4 lessons · ~44 min
Supply, Demand & Absorption
Read market cycles and absorption to describe current conditions honestly.
Market Areas & Neighborhood Life Cycle
Delineate a market area and place it in growth, stability, decline or revitalization.
The Economic Principles
Apply substitution, anticipation, contribution and conformity — the why behind every approach.
Time Adjustments
Extract market-conditions adjustments from paired sales and resale data.
5 lessons · ~56 min
Selecting & Verifying Comps
Choose comparables by competitiveness, then verify facts with a party to the sale.
Adjustment Sequence & Mechanics
Adjust the comp toward the subject, in the required order, watching net/gross ratios.
Paired Data Analysis
Isolate one difference between sales to extract a defensible adjustment amount.
Conditions of Sale & Concessions
Handle non-arm’s-length sales and seller concessions before any other adjustment.
Reconciling the Grid
Weight adjusted sale prices by reliability — never a simple average.
5 lessons · ~56 min
Reproduction vs Replacement Cost
Pick the right cost basis and the right estimating method for the assignment.
Physical Deterioration
Split curable from incurable, short-lived from long-lived, and cost each correctly.
Functional Obsolescence
Work superadequacy and deficiency problems, including cost-to-cure logic.
External Obsolescence
Measure loss from outside the property line and allocate it between land and building.
Age-Life Depreciation
Use effective age over total economic life — and know what maintenance does to effective age.
6 lessons · ~69 min
PGI, EGI & Vacancy
Build the income statement top: potential gross, vacancy/collection, effective gross.
Expenses & NOI
Classify operating expenses, exclude debt service, and land on a clean NOI.
Direct Capitalization
Apply IRV, extract cap rates from sales, and build one by band of investment.
GRM & GIM
Value with gross rent/income multipliers and know when they mislead.
DCF, Yield & Reversion
Discount cash flows and reversion, and separate yield rates from cap rates.
Leases: Contract vs Market Rent
Value leased fee vs leasehold and handle contract rent above or below market.
4 lessons · ~41 min
Land Sales Comparison
Compare land sales with the right units: per acre, per front foot, per buildable unit.
Extraction & Allocation
Back land value out of improved sales by extraction or allocation ratios.
Subdivision Development & Land Residual
Run the development method and the land residual technique for income land.
Excess vs Surplus Land
Separate excess land (separately usable) from surplus land (not) — a favorite exam trap.
3 lessons · ~29 min
Reconciling to Final Value
Weight the approaches by quality of data and relevance, and defend the final opinion.
Report Types & Certification
Choose Appraisal Report vs Restricted Appraisal Report and what each must contain.
Assumptions & Exposure Time
State limiting conditions and develop an exposure-time opinion that matches the value.
3 lessons · ~32 min
Descriptive Statistics for Sales
Use mean, median, mode, range and standard deviation on sale-price data sets.
Regression in Adjustment Support
Read slope, intercept and R² well enough to support (or reject) an adjustment.
Sampling & Reliability
Judge sample size, outliers and significance before trusting a statistic.
3 lessons · ~28 min
Data & Information Sources
Vet MLS, public records and third-party data before they enter the workfile.
Alternative Inspections
Use desktop and exterior-only scopes with the right disclosures and limits.
AVMs & Valuation Models
Treat an AVM as a tool, not an appraisal — and know who remains responsible.
Yes. All 43 written lessons are free to read, and the ten-question checks, progress tracking and app sync are included with a free account. No credit card required.
Yes — the 10 chapters mirror the official appraiser licensing exam content outline, so study time is distributed the way the exam weights it.
About 8 hours of reading across 43 lessons (11 minutes each on average), plus practice time.
No — every lesson is readable without an account. A free account adds the per-lesson quizzes, mastery tracking, flashcards and lesson videos, synced with the EstatePass iOS app.
No credit card required.