IAAO 300: Complete Course Review Questions and Answers 100% Pass
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IAAO 300: Complete Course
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IAAO 300: Complete Course
IAAO 300: Complete Course Review Questions and
Answers 100% Pass
What is the main difference between single property appraisal and mass appraisal? -
-1. Group vs Particular 2. Mass Appraisal emphasizes standardized and statistical
quality control features
In the Appraisal Process, "Define the ...
IAAO 300: Complete Course Review Questions and
Answers 100% Pass
What is the main difference between single property appraisal and mass appraisal? -
-1. Group vs Particular 2. Mass Appraisal emphasizes standardized and statistical
quality control features
In the Appraisal Process, "Define the valuation problem" does not include which of the
following:
a. Define the Value to be developed
b. Identify limiting conditions or limitations
c. Date of the value
d. Competitive properties
e. Identify intended use and users of appraisal
f. Develop highest and best use opinion - -d. and f.
Supply and demand factors determine Real Estate values. Which are not supply factors?
a. Building costs
b. Interest Rates
c. Economic Conditions
d. Location
e. Construction Quality
f. Condition - -d.,e.,and f.
Hybrid or generic models are reflective of which approach to value? - -Cost
Approach
, IAAO 300: Complete Course Review Questions and
Answers 100% Pass
What type of model is the following formula? MV=GQ x ((PL x SIZE)+(PB x SIZE)) - -
Simple Hybrid (Generic) Cost Model
What should a reappraisal start and end with? - -Ratio Report
A "Yes/No" indicates what type of variable? - -Binary variable
USPAP Standard 6 covers which type of appraisal? - -Mass Appraisal
What are the main components of a Mass Appraisal system? - -1. Market Data
collection
2. Data analysis
3. Development of a model
4. Application of created model
What kind of variable takes on specific, predefined values such as "log, a-frame, split-level,
ranch?" - -Discrete
If you need to work 6,000 parcels using 6 appraisers that can work 20 parcels/day. How
many days are needed to complete the project? - -50 days
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