IAAO 400 Exam Questions With Verified
Answers.
A property assessment system organizes resources to carry out the primary assessment responsibilities
of , , and properties, in accordance with property tax laws and regulations. - answerDiscovery, Listing,
and Valuing
Name the 14 Attributes of an...
A property assessment system organizes resources to carry out the primary assessment responsibilities
of , , and properties, in accordance with property tax laws and regulations. - answer✔Discovery, Listing,
and Valuing
Name the 14 Attributes of an Effective Assessment System - answer✔Legal, Ratio Studies, Adequate
Budget, Competent Staff/Effective Training Program, Effective Internal Controls, Organizational Plan,
Standards of Practice, Monitoring Activities, Security Procedures, Complete Maps and Property Data,
Accurate Market Data, Information Systems, Effective Valuation techniques, and Active Public Relations
Program
What must sellers disclose to assessor upon sale of property - answer✔Sales price, rents, and operating
expenses
What must assessor disclose to Taxpayers - answer✔Increases in tax levies
Who uses Ratio Studies and why - answer✔Oversight agencies to determine compliance with laws and
regulations; also used for internal quality control
Budget - answer✔An expression of political support for accurate and equitable assessments.
Planning and Quality Assurance - answer✔What are the two categories under Effective Internal Controls
Planning - answer✔Setting realistic and specific goals to assure laws and regulations are met.
Quality Assurance - answer✔A continuous process of testing work products and flows to assure that the
plan is executed and ensure compliance with laws and regulations.
What are the three goals of the Organizational Plan? - answer✔The allocation of staff time and
responsibilities
Standards of Practice - answer✔A product of the laws, regulations, and guidelines, and provide the
procedures for accomplishing various tasks.
Monitoring - answer✔Reviews of progress and performance
What do we monitor - answer✔Quality of assessments, editing data, reviewing appraisals, and reporting
time and productivity.
T/F - answer✔An audit trail is available for any change made to the data base.
What format does a efficient property assessment system have - answer✔GIS
Geographic Information System
Arms-Length - answer✔Sales with knowledgeable and willing byers and sellers, under no duress, with
reasonable time on the open market with cash or equivalent value.
Models - answer✔These are used to predict the values of the parcels in the jurisdiction
Why have public relations program - answer✔This assists the public in understanding the assessor's job
and relays the importance of property taxation.
Appraised Values - answer✔The basis for assessed values and determines the distribution of property
tax levies among taxpayers
Plan, Budget, Organize, Lead, and Control - answer✔The assessor's sworn duty to see that appraised
values in their jurisdiction meet the requirements of the law which requires the assessor to :
Historical Data - answer✔There is great value in looking at
System School of Management - answer✔This is premised on a set of interrelated parts that work
together to achieve stated goals or objectives. It has various subsystems that must perform certain tasks
to ensure the completion of the end product. Dependent on each other to being successful.
Division of Labor - answer✔The assignment of various portions of a particular task among a number of
members of the organization.
Classical Theory of Management - answer✔This was primarily an authoritarian approach, with top-down
decision making
Scalar Principle - answer✔This states that authority and responsibility should flow in a direct line,
vertically from the highest level to the lowest level of the organization. Establishes the "Chain of
Command" with only ONE boss
Span of Control - answer✔This relates to the optimal number of employees a manager can supervise
Tall Organization - answer✔In this, a manager supervises few subordinates
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