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IAAO 311 Exam Questions and Correct Answers Rated 100% Already Passed
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IAAO 311 Exam Questions and Correct Answers Rated 100% Already Passed Mass appraisal is the systematic appraisal of groups of properties as of a given date using - Answers standardized procedures and statistical testing What characteristics does a mass appraisal require? - Answers valuation tabl...

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  • November 5, 2024
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  • 2024/2025
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IAAO 311 Exam Questions and Correct Answers Rated 100% Already Passed

Mass appraisal is the systematic appraisal of groups of properties as of a given date using - Answers
standardized procedures and statistical testing

What characteristics does a mass appraisal require? - Answers valuation tables, schedules, and models

Economic, social, and environmental are termed? - Answers market analysis data

Off site features and improvement data are termed? - Answers property analysis data

Selecting appropriate valuation approaches and specifying the variables to be used is called? - Answers
model specification

Developing adjustment weights from measurable supply and demand factors, including quantitative and
qualitative factors is called? - Answers model calibration

Valuation in exchange is determined by the interaction of? - Answers supply and demand

Value in exchange is? - Answers market value

A b0 is what? - Answers constant

b is what? - Answers coefficient

x is what? - Answers variable

What kind of model is a combination of multiplicative and additive? - Answers hybrid (generic) model

4 categories of market data are? - Answers PEGS, Physical/Environmental, Economic, Governmental,
Social

Building codes, planning, and zones are considered (blank) forces? - Answers Government

What is the most effective yet expensive way to collect data? - Answers personal interviews

PGI is based on what? - Answers market rent

What kind of lease does owner pay expenses? - Answers gross

What kind of lease does tenant pay expenses? - Answers net

(blank) data is also known as discrete data as it relates to features or attributes of a property. - Answers
qualitative

(blank) data is also known as continuous data and is based on measuring or counting. - Answers
quantitative

, A (blank) transformation converts a discrete variable to relative values or numerical ratings. - Answers
scalar

IAAO recommends properties to be re-inspected every (blank) years. - Answers 6 years

Scalar transformation convert discrete data to? - Answers numerical ratings

Scalar variables center on "?" in additive models. - Answers zero

Scalar variables center on "?" in multiplicative models. - Answers one

A (blank) helps evaluate what data to collect and the best way to collect them. - Answers pilot study

What is the formula for percentiles? - Answers k=(p)(n)+p

k = - Answers rank

p = - Answers percentile

n = - Answers sample

How many steps in appraisal process? - Answers 7

What is the first step in the appraisal process? - Answers Define the problem

What is the second step in the appraisal process? - Answers determine scope of work

What is the 3rd step in the appraisal process? - Answers make a preliminary analysis and plan

What is the 4th step in the appraisal process? - Answers select and collect data

What is the 5th step in the appraisal process? - Answers determine highest and best use

What is the 6th step in the appraisal process? - Answers apply appropriate approach to value

What is the 7th step in the appraisal process? - Answers reconciliation

When property characteristics affect value interactively, a ( blank) transformation captures the
interactive effects. - Answers multiplicative

The square foot area of a residence is considered (blank) data. - Answers quantitative

The condition rating of a property is considered (blank) data. - Answers qualitative

The division of one variable by another, for ex square feet by number of rooms is termed a (blank). -
Answers quotient

What shows the relationship between 2 qualitative variables? - Answers Cross Tabulations

What shows the relationship between 2 continuous variables? - Answers Scatter diagram

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