Page | 1
IAAO 311 2026 QUESTIONS AND
ANSWERS | A+ GRADED | WITH
EXPERT SOLUTIONS
What is a requirement of both single-property and mass
appraisal? - correct answer -Uses three basic approaches to
value
What is the first step in the mass appraisal process? - correct
answer -definition of the problem
List the three types of data that must be collected in analyzing the
market. - correct answer -General data
Specific data
Comparative data
Identifying supply and demand factors that best explain values in
a specific market, and expressing them in an equation is called
______________________________________. - correct answer
-model specification
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Developing adjustment weights or coefficients from measurable
supply and demand factors that include quantitative factors
describing the improvements and qualitative judgments affecting
land and/or improvement value is called
____________________________________. - correct answer -
model calibration
List the five determinants of demand: - correct answer -Price
Price of related commodities
Consumer tastes and preference
Consumer's income
Consumer expectations
List the three determinants of supply: - correct answer -Price
Availability and cost of related goods
Technology
A ____________ helps evaluate what data to collect and the best
way to collect it. - correct answer -pilot study
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IAAO standards recommend routine property inspections at least
every ________ years. - correct answer -six
List four methods of obtaining income and expense data: - correct
answer -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. - correct answer -continuous
(quantitative)
discrete (qualitative)
__________ data is qualitative items that have only two
possibilities, yes or no. - correct answer -Binary
Converting a discrete variable to relative values or numerical
ratings is termed a ___________ transformation. - correct answer
-scalar
IAAO 311 2026 QUESTIONS AND
ANSWERS | A+ GRADED | WITH
EXPERT SOLUTIONS
What is a requirement of both single-property and mass
appraisal? - correct answer -Uses three basic approaches to
value
What is the first step in the mass appraisal process? - correct
answer -definition of the problem
List the three types of data that must be collected in analyzing the
market. - correct answer -General data
Specific data
Comparative data
Identifying supply and demand factors that best explain values in
a specific market, and expressing them in an equation is called
______________________________________. - correct answer
-model specification
, Page | 2
Developing adjustment weights or coefficients from measurable
supply and demand factors that include quantitative factors
describing the improvements and qualitative judgments affecting
land and/or improvement value is called
____________________________________. - correct answer -
model calibration
List the five determinants of demand: - correct answer -Price
Price of related commodities
Consumer tastes and preference
Consumer's income
Consumer expectations
List the three determinants of supply: - correct answer -Price
Availability and cost of related goods
Technology
A ____________ helps evaluate what data to collect and the best
way to collect it. - correct answer -pilot study
, Page | 3
IAAO standards recommend routine property inspections at least
every ________ years. - correct answer -six
List four methods of obtaining income and expense data: - correct
answer -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. - correct answer -continuous
(quantitative)
discrete (qualitative)
__________ data is qualitative items that have only two
possibilities, yes or no. - correct answer -Binary
Converting a discrete variable to relative values or numerical
ratings is termed a ___________ transformation. - correct answer
-scalar
