CMA vs BPO vs Appraisal

National · Valuation & Appraisal — free cheat sheet for the real estate licensing exam.

📐 Valuation & Appraisal

📋 The 1-minute cheat sheet

CMA: agent's comparative analysis to set a LIST price — free, not an appraisal
BPO: broker price opinion for a lender/relocation firm — allowed where state permits, fee OK
Appraisal: licensed/certified appraiser's OPINION of value — required for most financed deals
Federally related loans need state-licensed/certified appraisers (FIRREA)
Agents must never call a CMA an 'appraisal'

Is CMA vs BPO vs Appraisal on the real estate exam?

Yes. Valuation & Appraisal is a scored domain on the real estate licensing exam, and this topic appears in the national portion.

Is this cheat sheet free?

Yes — every page on CinnaPrep's resource library is free to read, print and share. The app adds practice questions, mock exams and a readiness score.