BREA Salesperson Exam study plan

Define the three approaches to value and state in writing when each is most reliable

Explain the four agents of production and give one real estate example of each

Distinguish value in use, market value, investment value, and assessed value with a written example of each

Identify the eight forces that influence value and sort ten sample property facts into those categories

Apply the appraisal process steps in order to a hypothetical single-family property

Explain the difference between price, cost, and value without using notes

Describe the three types of depreciation and classify eight sample causes of value loss

Summarize the principles of substitution, contribution, conformity, and progression/regression with one example each

Compute replacement cost new from given unit-in-place figures and explain when replacement cost is preferred over reproduction cost

Estimate accrued depreciation using both the age-life method and the breakdown method on the same sample building

Reconcile a cost approach value from land value, cost new, and depreciation figures

List the conditions under which the cost approach is most and least reliable

Derive a gross rent multiplier from comparable sales data and apply it to a subject property

Build a five-comparable sales grid adjusting for date, size, condition, and location

Explain the difference between gross rent multiplier and gross income multiplier

Identify which adjustment items are typically applied to the comparable rather than the subject, and why

Construct a reconstructed operating statement from a list of income and expense items, including vacancy and collection loss

Compute net operating income and capitalize it at a given overall rate

Derive an overall capitalization rate from comparable sale data using the band of investment method

Explain the treatment of reserves for replacement and distinguish it from a capital expenditure

Identify the four tests of highest and best use and apply them to a vacant parcel and an improved property

Distinguish highest and best use as vacant from highest and best use as improved

Analyze a property's physical, legal, and economic characteristics and note which limit its use

Determine whether an existing improvement should be retained or demolished using the given figures

Outline the USPAP requirements for a complete appraisal report and identify what makes a report restricted

Explain the competency rule and the record-keeping obligations in your own words

Describe the California licensing structure for appraisers and the role of the state regulatory agency

Identify California requirements on appraisal management company registration and customary fee disclosure

Recognize common ethics violations in three short scenarios and state the correct conduct

Draft the required report sections for a narrative appraisal in the correct order

Write reconciliation language that justifies a final value conclusion from three approach indications

Revise a sample report paragraph to remove unsupported conclusions and add the missing data support

Complete a timed 60-question practice set and score it by domain