Iaao 300 test Study guides, Class notes & Summaries

Scope of work acceptability When it meets or exceeds: 1. Expectations of parties who are regularly intended users for similar assignments and 2. What an Appraiser's peers actions would be in performing the same or similar assignments Economic Basis of Model Building Supply factors relate to availability and thus reflect such things as Cost, interest rates, and economic conditions. Demand factors include characteristics to buyers, such as construction quality, condition, and location

Purpose of mass appraisal Equitable and efficient appraisal of all property in a jurisdiction for ad valorem tax purposes. When did first generation computers emerge? The 1950s Mass appraisal models may be: Physical, conceptual or mathematical. Property valuation models seek to explain or predict what? The market value of properties from real estate date

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 an...

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