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IAAO331 Exam Questions and Verified Solutions Rated 100%

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IAAO331 Exam Questions and Verified Solutions Rated 100% Mass appraisal - Answers the systematic appraisal of groups of properties as of a given date using standardized procedures and statistical testing objective of mass appraisal - Answers to appraise properties accurately, equitably, and effi...

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  • November 5, 2024
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  • 2024/2025
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IAAO331 Exam Questions and Verified Solutions Rated 100%

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

objective of mass appraisal - Answers to appraise properties accurately, equitably, and efficiently in
accordance with or exceeding local law and professional standards

the two parts of building a mass appraisal model - Answers specification and calibration

COD in newer, more homogeneous areas - Answers 5-10

COD in older, more heterogeneous areas - Answers 5-15

3 types of mass appraisal model types - Answers additive, multiplicative, & hybrid

the most flexible type of appraisal model - Answers hybrid

annual re-evaluations - Answers provide optimal accuracy and uniformity and advocated by IAAO

measurements should be accurate within - Answers 5%

objective categorical data should be - Answers accurate at least 95% of the time

subjective categorical data should be - Answers accurate at least 90% of the time

step 1 in Mass appraisal - Answers planning and preparations

step 2 in Mass appraisal - Answers data collection and maintenance

step 3 in Mass appraisal - Answers market analysis and valuation

step 4 in Mass appraisal - Answers communication of values to taxpayers

step 5 of mass appraisal - Answers inquiries and value defense

definition of a market - Answers the interaction of buyers and sellers for a good or commodity

Markets are in - Answers Constant Flux

Equilibrium market - Answers when demand equals supply

Real estate markets can be volatile - Answers Because there is a fixed/limited supply

A rise in interest rates - Answers will curtail demand for housing, potentially leading to falling prices

determinants of supply - Answers prices, development and construction costs, future expectations,
existing inventory, gvt regulations

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