ASFMRA RPRA study guide
ASFMRA RPRA · Work through your exam, one topic at a time.
The Real Property Review Appraiser (RPRA) is one of the professional accreditations listed by the American Society of Farm Managers and Rural Appraisers (ASFMRA), alongside the Accredited Farm Manager, Accredited Rural Appraiser, and Accredited Agricultural Consultant designations. ASFMRA describes its accreditation and continuing education programs as built around the special understanding, insight, and appreciation required for rural property and agricultural assets, and states that its land experts work under a professional code of ethics. The ASFMRA RPRA study guide has 4 sections and about 1,099 words.
01Real Property Review Appraisal Practice
Real property review appraisal practice centers on forming an independent, supportable opinion about the quality of another appraiser's work product - not simply restating the original value. The reviewer must determine whether the report is credible (worthy of belief) and compliant with the applicable standards, then decide whether the value conclusion is adequately supported.
282 words, about 1 min02Rural and Agricultural Property Valuation
Rural and agricultural properties are valued by their productive capacity as much as by comparable sales. Candidates must understand the income approach as applied to farmland - capitalization of net operating income, lease-based income, and the distinction between cash rent and share rent - alongside sales comparison using units like price per acre, per animal unit, or per tillable acre.
270 words, about 1 min03Appraisal Review Methodology and Standards
Review methodology is anchored in the Uniform Standards of Professional Appraisal Practice (USPAP) . Candidates must know the review development and reporting standards, the requirement to identify the intended use and intended user , and how the scope of work rule governs how much verification and analysis a reviewer performs.
273 words, about 1 min04Professional Ethics and Accreditation Requirements
Ethical practice in appraisal review rests on independence, objectivity, and impartiality . The reviewer must have no financial or personal interest in the outcome and must disclose any prior involvement with the property or the original appraiser.
274 words, about 1 min