Iaao 300 exam Study guides, Class notes & Summaries

supply, demand - correct answerReal estate prices are a function of supply and demand operating simultaneously within a market. The _________ factors relate to availability, _________ factors include such things as condition, size and location defining the valuation problem - correct answerAn appraiser establishes the date of value opinion, defines the value to be developed, and identifies the property rights to be appraised, this is part of ___________ statistical testing - correct answer...

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What is the main difference between single property appraisal and mass appraisal? - correct answer1. 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. Develo...

What are the 4 components of mass appraisal? Correct Answer Data Collection & Maintenance Exploratory Data Analysis Model Development Model Application Review & Reconiciliation Data Collection & Maintenance is a component of the mass appraisal system and consists of what? Correct Answer Market (sales, income & expenses & cost data) Property attribute data (land, building & location data) Exploratory Data Analysis is a component of the mass appraisal system and consists of what? Correct...

Supply Factors - correct answerBuilding costs economic conditions interest rates Demand Factord - correct answerlocation condition construction quality The definition of mass appraisal - correct answerThe systematic appraisal of groups of properties, as of a given date, using standardized procedures and statistical testing. Basic model for sales comparison approach - correct answerMV=Sc+ADJc Model Specification - correct answerThe determination of what data to include and in what...

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Both single property and mass appraisal - correct answerExercises in applied economic analysis and required the use of logical, systematic methods for the collecting, analyzing and processing of data to produce supportive, well documented value estimates MV= LV+ BV - correct answerA basic model structure for the cost approach Supply - correct answerFactors that relate to availability Demand - correct answerFactors that include condition, size and location Location data, land site dat...

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IAAO Course 300 Exam With 100% Correct And Verified Answers