IAAO 311 Exam Questions And Answers
100% Pass
Mass appraisal is the systematic appraisal of groups of properties as of a given date using -
answerstandardized procedures and statistical testing
What characteristics does a mass appraisal require? - answervaluation tables, schedules, and
models
...
Mass appraisal is the systematic appraisal of groups of properties as of a given date using -
answer✔standardized procedures and statistical testing
What characteristics does a mass appraisal require? - answer✔valuation tables, schedules, and
models
Economic, social, and environmental are termed? - answer✔market analysis data
Off site features and improvement data are termed? - answer✔property analysis data
Selecting appropriate valuation approaches and specifying the variables to be used is called? -
answer✔model specification
Developing adjustment weights from measurable supply and demand factors, including
quantitative and qualitative factors is called? - answer✔model calibration
Valuation in exchange is determined by the interaction of? - answer✔supply and demand
Value in exchange is? - answer✔market value
A b0 is what? - answer✔constant
b is what? - answer✔coefficient
x is what? - answer✔variable
What kind of model is a combination of multiplicative and additive? - answer✔hybrid (generic)
model
4 categories of market data are? - answer✔PEGS, Physical/Environmental, Economic,
Governmental, Social
Building codes, planning, and zones are considered (blank) forces? - answer✔Government
What is the most effective yet expensive way to collect data? - answer✔personal interviews
What kind of lease does owner pay expenses? - answer✔gross
What kind of lease does tenant pay expenses? - answer✔net
(blank) data is also known as discrete data as it relates to features or attributes of a property. -
answer✔qualitative
(blank) data is also known as continuous data and is based on measuring or counting. -
answer✔quantitative
A (blank) transformation converts a discrete variable to relative values or numerical ratings. -
answer✔scalar
IAAO recommends properties to be re-inspected every (blank) years. - answer✔6 years
Scalar transformation convert discrete data to? - answer✔numerical ratings
Scalar variables center on "?" in additive models. - answer✔zero
Scalar variables center on "?" in multiplicative models. - answer✔one
A (blank) helps evaluate what data to collect and the best way to collect them. - answer✔pilot
study
What is the formula for percentiles? - answer✔k=(p)(n)+p
k = - answer✔rank
p = - answer✔percentile
n = - answer✔sample
How many steps in appraisal process? - answer✔7
What is the first step in the appraisal process? - answer✔Define the problem
What is the second step in the appraisal process? - answer✔determine scope of work
What is the 3rd step in the appraisal process? - answer✔make a preliminary analysis and plan
What is the 4th step in the appraisal process? - answer✔select and collect data
What is the 5th step in the appraisal process? - answer✔determine highest and best use
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 Thebright. 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.
