The verb appraise means to evaluate, especially in an official way in which a grade will be given or the value of something determined:
The teachers will appraise the students' presentations.
A car dealership appraises the value of used cars.
Managers often appraise their employees once per year.
The noun form is appraisal, meaning an evaluation:
Please give me your honest appraisal of the book I've written.
We need to conduct a thorough appraisal of the property before buying it.
The verb apprise means to inform or notify. You can apprise (someone) of (some news). If your colleague Gina wasn't at an important meeting, you will later need to apprise Gina of the decisions that were made at the meeting.
Another common structure is to say that (someone) is, was, or has been apprised of (the news):
The President has been apprised of the latest developments in the crisis.
The students were apprised of the increase in tuition.
Every June in the Welsh town of Llanwrtyd Wells competitors line up to prove they can beat a horse to a finish line that is 22 miles away. Why? Rumor has it that in 1980 the owner of a local pub, Gordon Green, overheard two patrons arguing over whether a man could beat a horse in a marathon. Well, there was only one way to find out.