CAR Cheat Sheet 2026

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

1. When reviewing a complex mixed-use property appraisal, which technique is most appropriate for allocating value between residential and commercial components? → Paired sales analysis isolating each use type
2. Under Fannie Mae guidelines, if a review appraiser concludes that the original appraised value is not supportable, the next step is typically to: → Provide a recommended value and indicate whether it is above or below the original
3. In Certified Appraisal Reviewer practice, what should a professional do when facing a conflict of interest? → Disclose the conflict and recuse if necessary
4. Which of the following actions by a review appraiser would violate the Confidentiality section of USPAP's Ethics Rule? → Sharing the reviewed appraisal report with a competing lender without client authorization
5. In Certified Appraisal Reviewer, what is the purpose of an audit trail? → To record and track all changes and access to data
6. In an appraisal review, 'scope of work' decisions must be made BEFORE beginning the assignment primarily because: → Predetermined scope prevents cherry-picking procedures to reach a desired outcome
7. Which data management principle is critical in Certified Appraisal Reviewer? → Ensuring data integrity, security, and accessibility
8. Under FIRREA, which federal regulatory body is primarily responsible for establishing minimum standards for state-licensed and state-certified appraisers? → The Appraisal Subcommittee (ASC) in coordination with The Appraisal Foundation
9. When performing a field review, the reviewer physically inspects the subject property and comparables primarily to: → Verify data accuracy and assess the reasonableness of the original report
10. Which conflict resolution approach is most effective in Certified Appraisal Reviewer practice? → Collaborative problem-solving with all parties
11. Why is record-keeping essential in appraisal compliance? → To ensure transparency and regulatory compliance
12. Why is market data verification important in report evaluation? → To ensure accuracy and relevance of market trends
13. Which factor must be reviewed for compliance in an appraisal report? → Proper adjustments in comparable sales
14. What is system integration in Certified Appraisal Reviewer technology? → Connecting different systems to work together seamlessly
15. Which data standard governs the XML schema used for electronic appraisal report submissions to GSEs? → MISMO
16. Property data collectors (PDCs) used in hybrid appraisals are typically required to follow which measurement standard for above-grade living area? → ANSI Z765-2021 (American National Standard for Single-Family Residential Buildings)
17. Which condition allows an appraisal reviewer to assume the characteristics of the subject property without independent verification? → Extraordinary assumption
18. Under the Uniform Standards of Professional Appraisal Practice, a reviewer who also develops a value opinion is bound by which combined set of standards? → Standards 1, 2, 3, and 4
19. The Uniform Appraisal Dataset (UAD) standardized appraisal reporting forms were developed through collaboration between which two entities? → Fannie Mae and Freddie Mac
20. Which entities establish the primary appraisal guidelines for conventional mortgage loans intended for sale on the secondary market? → Fannie Mae and Freddie Mac
21. What is the primary purpose of an appraisal report evaluation? → To ensure accuracy and compliance
22. What is the purpose of feedback in Certified Appraisal Reviewer professional development? → To provide constructive guidance for improvement
23. Which appraisal methodology error poses the GREATEST risk when reviewing a value for a portfolio loan on multiple identical units in the same building? → Failing to analyze bulk or discount for large-quantity same-type unit sales
24. When a review appraiser encounters an appraisal that omits required USPAP certifications, this finding should be: → Documented as a deficiency in the review report
25. What is the importance of staying current with trends in Advanced Techniques & Methods for Certified Appraisal Reviewer? → It ensures practices remain effective and relevant
26. Which of the following is a key risk indicator when reviewing an appraisal that uses the income approach for a small residential rental property? → The vacancy rate used is below the market rate without explanation
27. In risk-based appraisal review, a 'red flag' related to the sales comparison approach would include: → All comparables are located outside the subject's defined market area without explanation
28. FHA's Electronic Appraisal Delivery (EAD) portal differs from UCDP primarily in that it: → Processes appraisals specifically for FHA-insured loans rather than conventional GSE loans
29. The term 'workfile' as used in USPAP review assignments refers to: → Documentation necessary to support the reviewer's opinions, conclusions, and review report
30. In Certified Appraisal Reviewer, what is the purpose of team-building activities? → To strengthen collaboration, trust, and communication