100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
IAAO 300: Complete Course Review UPDATED Exam Questions and CORRECT Answers CA$11.53   Add to cart
Quickly navigate to
Preview
  2.  
  3. IAAO 300
  4.  
  5. IAAO 300

Exam (elaborations)

IAAO 300: Complete Course Review UPDATED Exam Questions and CORRECT Answers
 2 views  0 purchase
  • Course
  • IAAO 300
  • Institution
  • IAAO 300

IAAO 300: Complete Course Review UPDATED Exam Questions and CORRECT Answers What is the main difference between single property appraisal and mass appraisal? - CORRECT ANSWER- 1. Group vs Particular 2. Mass Appraisal emphasizes standardized and statistical quality control features In the Ap...

[Show more]

Preview 2 out of 6  pages

Document information

  • August 4, 2024
  • 6
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • iaao 300 complete course
  • iaao 300 complete
  • iaao 300
  • iaao
  • iaao 300 complete course review

Written for

  • IAAO 300
  • IAAO 300

Seller

avatar-seller
MGRADES

Reviews received

Content preview

IAAO 300: Complete Course Review
UPDATED Exam Questions and
CORRECT Answers

What is the main difference between single property appraisal and mass appraisal? -
CORRECT ANSWER- 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 - CORRECT ANSWER- 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 - CORRECT ANSWER- d.,e.,and f.


Hybrid or generic models are reflective of which approach to value? - CORRECT ANSWER-
Cost Approach


What type of model is the following formula? MV=GQ x ((PL x SIZE)+(PB x SIZE)) -
CORRECT ANSWER- Simple Hybrid (Generic) Cost Model

, What should a reappraisal start and end with? - CORRECT ANSWER- Ratio Report


A "Yes/No" indicates what type of variable? - CORRECT ANSWER- Binary variable


USPAP Standard 6 covers which type of appraisal? - CORRECT ANSWER- Mass Appraisal


What are the main components of a Mass Appraisal system? - CORRECT ANSWER- 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?" - CORRECT ANSWER- 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? - CORRECT ANSWER- 50 days


Making sure the square footage of a basement is not greater than the square footage of the
finished area is what type of edit? - CORRECT ANSWER- Consistency/Logic


A listing of data in order of magnitude (largest to smallest) is called an? - CORRECT
ANSWER- Array


The highest bar in a histogram represents what? - CORRECT ANSWER- A Common level of
appraisal


A histogram that shows data distributed normally has what shape? - CORRECT ANSWER-
Bell-Shape


Find the Standard Deviation using the following numbers. Round to the nearest Whole
Number.
20

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

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

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

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 MGRADES. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for CA$11.53. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

81989 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
CA$11.53
  • (0)
  Add to cart