Exam (elaborations)
IAAO 300 Test Questions With Precise Answers
- Course
- Institution
IAAO 300 Test Questions With Precise Answers
[Show more]
Seller
Follow
ElevatedExcellence
Reviews received
Content preview
IAAO 300 Test Questions With PreciseAnswers
supply, demand CORRECT ANSWERS Real estate prices are a function of supply and
demand operating simultaneously within a market. The _________ factors relate to
availability, _________ factors include such things as condition, size and location
defining the valuation problem CORRECT ANSWERS An appraiser establishes the
date of value opinion, defines the value to be developed, and identifies the property
rights to be appraised, this is part of ___________
statistical testing CORRECT ANSWERS The definition of mass appraisal is the
systematic appraisal of groups of properties, as of a given date, using standardized
procedures and ________
supply CORRECT ANSWERS Building costs, economic conditions and interest rates
are __________ factors
demand CORRECT ANSWERS Location, condition, and construction quality are
_______ factors
MVs = Sc + ADJc CORRECT ANSWERS The basic structure of a model for the sales
comparison approach is ________
Model specification CORRECT ANSWERS __________ involves the determination of
what data to include the model and in what format
Model calibration CORRECT ANSWERS Determining the rates used in a mode, such
as adjusting formulas, tables or schedules to the current market is known as
___________
cost CORRECT ANSWERS MV=LV+BV is the basic model structure for the ____
approach
income approach CORRECT ANSWERS Net operating income and capitalization rates
are requirements for the _____ approach
market value CORRECT ANSWERS Property valuation models seek to explain or
predict the _________
MV=GQx[(PsubL x LSIZE) + (PsubL x BSIZE)] + OA CORRECT ANSWERS The hybrid
cost model would be ________
, Scope of work CORRECT ANSWERS The _________ is acceptable when it meets or
exceeds the expectations of parties who are regularly intended users for similar
assignments and what an appraiser's peer's actions would be in performing the same or
similar assignment.
7 CORRECT ANSWERS How many steps are in the general appraisal process?
a. Identify the problem to be solved
b. Determine and perform the scope of work necessary to develop credible assignment
results
c. Disclose the scope of work in the report CORRECT ANSWERS The scope of work
rule three parts and they are:
assessment system, appeal system, and collection system CORRECT ANSWERS The
three components of a Property Tax System are the
Online data entry CORRECT ANSWERS _________ systems update master files
directly from computer workstations and edits are built into data entry software
ratio study CORRECT ANSWERS A ___________ should be conducted to measure
and evaluate the accuracy and uniformity of new values
collection CORRECT ANSWERS The receipt of payments and distribution of funds is
part of the _________ system
a. Data collection and maintenance
b. Exploratory data analysis
c. Model development
d. Model application, review, and reconciliation CORRECT ANSWERS The four
components of the mass appraisal system are:
resources CORRECT ANSWERS Analysis of available _________ such as personnel,
maps and databases are critical before conducting a reappraisal
market data CORRECT ANSWERS Sales data, cost data, and income data are
components of the _______ portion of data collection & maintenance
reappraisal CORRECT ANSWERS Many times, a _________ decision must be made
because of statutes or administrative rules
edited, tested CORRECT ANSWERS Property characteristics data should be
thoroughly ______ and _____ to ensure quality control
appeal CORRECT ANSWERS Property owners may dispute their value, and this is part
of the appeal system
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 ElevatedExcellence. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for CA$17.26. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
73918 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now