Exam (elaborations)
IAAO Course 300 Exam With 100% Correct And Verified Answers
- Course
- Institution
IAAO Course 300 Exam With 100% Correct And Verified Answers
[Show more]
Content preview
IAAO Course 300 Exam With 100%Correct And Verified Answers
Scope of Work Rule - Correct Answer-1. Identify the
problem to be solved
2. Determine and perform the scope of work necessary to
develop credible assignment results
3. Disclose the scope of work in the report
Scope of work acceptability - Correct Answer-When it meets
or exceeds:
1. Expectations of parties who are regularly intended users
for similar assignments and 2. What an Appraiser's peers
actions would be in performing the same or similar
assignments
Economic Basis of Model Building - Correct Answer-Supply
factors relate to availability and thus reflect such things as
Cost, interest rates, and economic conditions. Demand
factors include characteristics to buyers, such as
construction quality, condition, and location.
Basic Cost Model Structure - Correct Answer-MV = LV +
BV
Vendarsol
,Basic Sales Comparison Basic Model Structure - Correct
Answer-MVs = Sc + ADJc
Basic Income Models - Correct Answer-1. NOI Model
MV = NOI / OAR
2. GI Model
MV = GI x GIM
Model Development - Correct Answer-1. Specification
2. Calibration
3. Quality Assurance
Specification - Correct Answer-What data to include in the
model and in what format
1. Additive
2. Multiplicative
3. Hybrid (generic)
Vendarsol
, Additive Model Structure - Correct Answer-Each of the
variables are independent from the other variables. A
change in one variable does not directly impact any other
variables
MV = ($/sqft x sqft) + ($/plumbing fixture x #fixtures) +
($/car stall x #/cars) + ...
Multiplicative Model Structure - Correct Answer-Each of
the variables are interdependent. Any change to one variable
will have an impact on all of the other variables.
Hybrid (generic) Model Structure - Correct
Answer-Combines both additive and
multiplicative model structures
Finding Net Operating Income (NOI) -
Correct Answer-1. Potential Gross Income
(PGI) 100% occupancy at market rent
(market rent is the prevailing rent in the
open market, not the rent called for in a
lease)
2. Minus Vacancy and Collection Loss (V&C) -
any money lost from units not being rented or
from people not paying rent
Vendarsol
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Vendarsol. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $17.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
73091 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now