BREA Broker Exam study plan

Define the three approaches to value and list the data inputs each requires

Explain the appraisal process from problem identification through report delivery, in order

Distinguish the four agents of production and the forces that affect value

Compute simple depreciation splits using cost, sales, and income data

Apply the sales comparison approach, including adjustment grids and paired-data analysis

Calculate gross and net adjustment percentages and explain when each is meaningful

Build a cost approach estimate using replacement cost, accrued depreciation, and site value

Derive a capitalization rate from comparable sales and apply it to a subject net operating income

Reconcile conflicting value indications and justify the weight given to each approach

Compute effective gross income, operating expenses, and net operating income from a rent roll

Explain the difference between reproduction cost and replacement cost and when each is appropriate

Identify the three categories of depreciation and give an example of each

Classify the bundle of rights and explain how each interest affects value

Distinguish easements, encroachments, licenses, and liens by their legal effect

Outline the steps of a condemnation or eminent-domain valuation assignment

Apply the appraisal independence and competency provisions of professional ethics rules to short scenarios

State the USPAP requirements for an assignment, including problem identification and scope of work

Explain the difference between complete and limited appraisal reporting under applicable standards

Identify the required contents of a summary appraisal report

Recognize common USPAP violations in sample report excerpts

Write a highest-and-best-use conclusion that satisfies all four tests

Analyze a market area using supply, demand, and absorption data

Describe a property by site, improvements, zoning, and physical characteristics

Explain the difference between market value, market price, and investment value

Structure an appraisal report with the required sections in a logical order

Write review comments that identify errors and state a corrected conclusion

Explain how mortgage terms, interest rates, and leverage affect property value and buyer behavior

Distinguish the appraisal report from the appraisal review in terms of scope and responsibility

Complete two full-length timed practice exams and record scores by domain

Re-study the two lowest-scoring domains using your own notes and worked problems

Recite the USPAP standards and the three approaches from memory

Review all prior deliverables and correct every error you flagged