ASFMRA RPRA study plan
ASFMRA RPRA · Give each week a clear focus.
8 weeks · About 7 hours per week
Real Property Review Appraisal Practice & Rural and Agricultural Property Valuation
Map the RPRA exam blueprint to a personal gap list by domain and subtopic
Define the three approaches to value and write out when each applies to rural/agricultural property
List the components of a review appraisal report and where each appears in the review process
Identify the data sources (sales, income, cost) most relevant to farmland and ranch valuation
Your checkpoint
A one-page blueprint-to-gap matrix listing every domain subtopic with a self-rated confidence score from 1 to 5
Rural and Agricultural Property Valuation
Explain the income approach for agricultural property, including capitalization rates and net operating income build-up
Describe how soil productivity, water rights, and irrigation affect highest and best use
Compare sales comparison adjustments for farmland versus rural residential and transitional land
Summarize the cost approach as applied to farm improvements and depreciable structures
Your checkpoint
A written worked example valuing a 320-acre irrigated farm using the income approach with a full NOI and cap-rate build-up
Rural and Agricultural Property Valuation & Real Property Review Appraisal Practice
Analyze highest and best use for four property types: cropland, pasture, orchard, and rural transitional
Identify conservation easements, government program payments, and their effect on value
Draft the scope-of-work section for a rural appraisal assignment
List common rural appraisal pitfalls (access, utilities, easements, encroachments) and how to address each
Your checkpoint
A completed highest-and-best-use analysis for two contrasting rural properties with a defensible conclusion for each
Real Property Review Appraisal Practice & Appraisal Review Methodology and Standards
Outline the review appraisal process from engagement through final opinion
Distinguish a field review from a desk review and state when each is appropriate
Identify USPAP-relevant review standards and reporting requirements
Practice writing review findings using neutral, defensible language
Your checkpoint
A mock desk review of a provided rural appraisal with at least five documented findings and a final review opinion
Appraisal Review Methodology and Standards
Evaluate an appraisal for completeness against scope of work and reporting requirements
Detect common errors in comparables, adjustments, and reconciliation
Assess whether an appraiser's highest and best use conclusion is supported by the data
Write review conclusions that separate factual errors from differences of opinion
Your checkpoint
A written error-detection report on a sample appraisal identifying at least eight issues with supporting rationale
Appraisal Review Methodology and Standards & Professional Ethics and Accreditation Requirements
Apply appraisal review methodology to a full mock review with reconciliation
Summarize the RPRA code of ethics and standards of professional practice
Identify conflicts of interest, competency, and confidentiality obligations
Describe the accreditation and continuing education requirements for the RPRA designation
Your checkpoint
A completed full mock review appraisal report plus a one-page ethics summary covering competency, conflict, and confidentiality
Professional Ethics and Accreditation Requirements & Real Property Review Appraisal Practice
Analyze ethical scenarios involving review assignments and rural property valuation
Apply the standards of professional practice to a contested review opinion
Review the review appraisal process end to end and identify weak points in your own workflow
Revisit the domain 1 gap list and close remaining gaps
Your checkpoint
A written response to three ethics scenarios with cited standards and a final decision for each
Real Property Review Appraisal Practice & Rural and Agricultural Property Valuation & Appraisal Review Methodology and Standards & Professional Ethics and Accreditation Requirements
Complete a timed practice set across all four domains
Review missed items and categorize errors by domain and cause
Rehearse the review appraisal workflow and ethics standards from memory
Finalize a one-page exam-day reference sheet of key formulas and standards
Your checkpoint
A scored full-length practice exam with an error log and a final one-page reference sheet
Milestones
Week 2: Score at least 75% on a domain 2 self-quiz covering income, sales comparison, and cost approaches for rural property
Week 4: Complete a mock desk review that meets all structural requirements of a review report
Week 6: Score at least 80% on a combined domain 3 and 4 self-quiz covering review methodology and ethics
Week 8: Achieve at least 80% overall on a timed full-length practice exam with no domain below 70%