FHA Study Guide 2026
Everything you need to pass the FHA exam in one place: the exam format, every topic to study, real practice questions with explanations, flashcards, and full-length practice tests. Free, no sign-up needed.
📋 FHA Exam Format at a Glance
📚 FHA Topics to Study (69)
✍️ Sample FHA Questions & Answers
1. What is the primary purpose of financial analysis in professional practice?
Financial analysis evaluates financial health and provides the data needed for informed decision-making about investments, operations, and strategy.
2. An appraiser is offered a bonus by the lender for completing FHA appraisals within 24 hours. This arrangement is:
Contingent compensation tied to the completion or outcome of an assignment is prohibited under USPAP's Management section and FHA independence requirements.
3. When an FHA appraisal is completed on a proposed construction property, which document must be reviewed and referenced to identify the subject property's planned improvements?
For proposed construction, the appraiser must review and reference the approved construction plans and specifications to identify all planned improvements.
4. Under FHA guidelines, an appraiser who discovers a property has no access to a public or private road that meets community standards must:
FHA requires properties to have adequate street access; properties lacking legal access to a public or private road meeting community standards are generally ineligible for FHA financing.
5. A pre-1978 home has lead-based paint that is intact, well-adhered, and shows no visible deterioration. Under FHA guidelines, what action is required?
FHA only requires repair of defective (peeling, chipping, flaking) lead-based paint; intact, well-adhered paint in pre-1978 homes does not trigger a repair requirement.
6. An FHA appraiser is asked by a client to provide a verbal update on the likely value range before the written report is complete. What applies under USPAP?
USPAP permits oral appraisal reports but requires the appraiser to maintain a work file; FHA typically requires a written report, so verbal updates should be preliminary only.