ASFMRA ARA study guide
ASFMRA ARA · Work through your exam, one topic at a time.
The Accredited Rural Appraiser (ARA) is one of the professional accreditations conferred by the American Society of Farm Managers and Rural Appraisers (ASFMRA), alongside the Accredited Farm Manager, Real Property Review Appraiser, and Accredited Agricultural Consultant designations. It is intended for appraisal professionals who specialize in agricultural land and rural property - assets the ASFMRA describes as requiring "a special understanding, insight and appreciation" to manage and assess. ARA holders are expected to work under a professional code of ethics and are presented by the society as part of a community known as "The Most Trusted Rural Property Professionals." ASFMRA does not publish exam length, item count, fee, or passing score on its public site, so this page treats those as unverified and concentrates on content. Practice questions are organized around four equally weighted domains: rural and agricultural property valuation; farm and ranch management; agricultural economics and finance; and professional ethics, standards, and accreditation requirements. The ASFMRA ARA study guide has 4 sections and about 1,133 words.
01Rural and Agricultural Property Valuation
Rural valuation rests on the three approaches, applied to land, improvements, and the productive unit. Candidates must command highest and best use analysis (legally permissible, physically possible, financially feasible, maximally productive), the sales comparison approach with careful adjustment for soil productivity, water rights, improvements, and location, and the income approach using capitalized net operating income from agricultural use.
292 words, about 1 min02Farm and Ranch Management
Farm and ranch management questions test the candidate's grasp of production planning, enterprise budgeting, and resource allocation . Candidates should understand whole-farm planning, enterprise analysis (partial and full budgets), crop rotations, stocking rates, and grazing management.
287 words, about 1 min03Agricultural Economics and Finance
This domain tests time value of money, loan amortization, investment analysis, and risk management . Candidates should be fluent in present value, net present value, internal rate of return, and payback.
271 words, about 1 min04Professional Ethics, Standards, and Accreditation
Candidates must know the Uniform Standards of Professional Appraisal Practice (USPAP) as it applies to rural and agricultural assignments, including the ethics rule, competency rule, and record-keeping requirements. The ARA credential is administered by ASFMRA, which sets continuing education and code of ethics requirements.
283 words, about 1 min