IAAO 311 Review Questions and
Answers 100% Pass
What is a requirement of both single-property and mass appraisal? Uses three basic
approaches to value
What is the first step in the mass appraisal process? definition of the problem
List the three types of data that must be collected in analyz...
IAAO 3 11 Review Questions and Answers 100% Pass What is a requirement of both single -property and mass appraisal? ✔✔Uses three basic approaches to value What is the first step in the mass appraisal process? ✔✔definition of the problem List the three types of data that must be collected in analyzing the market. ✔✔General data Specific data Comparative data Identifying supply and demand factors that best e xplain values in a specific market, and expressing them in an equation is called ______________________________________. ✔✔model specification Developing adjustment weights or coefficients from measurable supply and demand factors that include quantitativ e factors describing the improvements and qualitative judgments affecting land and/or improvement value is called ____________________________________. ✔✔model calibration List the five determinants of demand: ✔✔Price Price of related commodities Consumer tastes and preference Consumer's income Consumer expectations List the three determinants of supply: ✔✔Price Availability and cost of related goods Technology A ____________ helps evaluate what data to collect and the best way to collect it. ✔✔pilot study IAAO standards recommend routine property inspections at least every ________ years. ✔✔six List four methods of obtaining income and expense data: ✔✔Mail questionnaires Telephone Personal contact Industry and trade publications The square foot area of a residence is considered ___________ _____________ data while the condition rating is considered _______ ___________ data. ✔✔continuous (quantitative) discrete (qualitative) __________ data is qualitative items that have only two possibilities, yes or no. ✔✔Binary Converting a discrete variable to relative values or numerical ratings is termed a ___________ transformation. ✔✔scalar The result of a depreciation analysis show that the effect of age on value is: % good=Age -.10. The percent good for 20 years of age would be _________ while the percent good for 40 years of age would be________. ✔✔0.741 0.692 The natural log for a lot with a depth of 150 feet would be _____________. The factor relative to a base lot of 100 feet would be _________. ✔✔5.011
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 SmartGradess. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.
