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IAAO 311 2023 Exam QUESTIONS WITH COMPLETE 100% VERIFIED SOLUTIONS 2024/2025
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IAAO 311 2023 Exam QUESTIONS WITH COMPLETE 100% VERIFIED SOLUTIONS 2024/2025 Mass appraisal is the systematic appraisal of groups of properties as of a given date using standardized procedures and statistical testing What characteristics does a mass appraisal require? valuation tables, schedules, and models Economic, social, and environmental are termed? market analysis data Off site features and improvement data are termed? property analysis data Selecting appropriate valuation approaches and specify ing the variables to be used is called? model specification Developing adjustment weights from measurable supply and demand factors, including quantitative and qualitative factors is called? model calibration Valuation in exchange is determined by the inte raction of? supply and demand Value in exchange is? market value A b0 is what? constant b is what? coefficient x is what? variable What kind of model is a combination of multiplicative and additive? hybrid (generic) model 4 categories of market data are? PEGS, Physical/Environmental, Economic, Governmental, Social Building codes, planning, and zones are considered (blank) forces? Government What is the most effective yet expensive way to collect data? personal interviews PGI is based on what? market rent What kind of lease does owner pay expenses? gross What kind of lease does tenant pay expenses? net (blank) data is also known as discrete data as it relates to features or attributes of a property. qualitative (blank) data is also known as continuous data a nd is based on measuring or counting. quantitative A (blank) transformation converts a discrete variable to relative values or numerical ratings. scalar IAAO recommends properties to be re -inspected every (blank) years. 6 years Scalar transformation conver t discrete data to? numerical ratings Scalar variables center on "?" in additive models. zero Scalar variables center on "?" in multiplicative models. one A (blank) helps evaluate what data to collect and the best way to collect them. pilot study What is the formula for percentiles? k=(p)(n)+p k = rank p = percentile n = sample How many steps in appraisal process? 7 What is the first step in the appraisal process? Define the problem What is the second step in the appraisal process? determine scope of work What is the 3rd step in the appraisal process?The benefits of buying summaries with Stuvia:
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