IAAO 300 LATEST 2026 EXAM QUESTIONS AND
SOLUTIONS RATED A+
✔✔Box Plots - ✔✔Shows the distribution of a CONTINUOUS VARIABLE with a
DISCRETE VARIABLE
Shows OUTLIERS & EXTREMES
✔✔Three-way Comparisons - ✔✔Contingency tables: shows summary statistics for a
dependent variable by combinations of two independent variables; shows average sale
price by neighborhood & construction class
3-D diagrams: show the relationship among three variables graphically
✔✔Contingency Tables - ✔✔Shows average sale price by neighborhood AND
construction class.
Shows statistics for a dependent variable by combinations of two independent variables
(shows 3 variables)
✔✔The listing of data in order of magnitude (either ascending or descending) is termed
a/an _______. - ✔✔array
✔✔The charting of a frequency distribution using a _________ illustrates the extend to
which sales ratios are in a normal (bell-shaped) distribution. - ✔✔histogram
✔✔List five common measures of dispersion - ✔✔1) Range
2) Quartiles
3) Percentiles
4) Standard deviation
5) Coefficient of variation
✔✔___________ show the distribution of values for two binary or discrete variables. -
✔✔Cross-tabulations
✔✔_________ ___________ show the relationship between two quantitative variables
with the dependent variable placed on the vertical axis and the independent variable
placed on the horizontal axis. - ✔✔Scatter diagrams
✔✔A _________ can be used to show several variables simultaneously, or the same
variable for different strata. - ✔✔polygon (line chart)
✔✔___________ compare statistics (usually measures of central tendency) by strata,
for example, average sale price by neighborhood. - ✔✔Breakdowns
, ✔✔__________ ___________ show summary statistics for a dependent variable by
combinations of two independent variables, for example, average sale price per square
foot by construction grade and neighborhood. - ✔✔Contingency tables
✔✔Interpretation of the _________ ____________ as a measure of spread or
dispersion depends on the data being "normally distributed" (approximating a bell-
shaped curve) - ✔✔standard deviation
✔✔The __________ of ____________ expresses the standard deviation as a
percentage of the mean. - ✔✔coefficient of variation
✔✔Cases beyond the whiskers in box plots are __________ and __________. -
✔✔Outliers & extremes
✔✔__________ data can take any value in a given range and is often based on
measurements. _________ data is qualitative items that have three or more predefined
values. __________ data is qualitative items that have only two possibilities
possibilities, for example yes or no. - ✔✔Continuous, discrete, binary
✔✔A good way to show the distribution of qualitative variables is: - ✔✔Crosstabulation
✔✔Market value sales - ✔✔All single-parcels sales that are arm's length & represent
market value
✔✔Market adjustments - ✔✔- Target date for adjustments should be the appraisal date
- Typical adjustment to sales during the sale confirmation process would be a time
adjustment
✔✔Only a chart comparing ______ ________ with ______ ________ can illustrate PRD
- ✔✔assessment level; sale price
✔✔Measures of central tendency (define) - ✔✔Measure the overall level of appraisal
-median, mean, weighted mean
✔✔Measures of dispersion (define) - ✔✔Measure the uniformity or equity of appraisals
-min, max, range
-Coefficient of Dispersion (COD): mostly commonly used measure of appraisal
uniformity; expresses average deviation as a percentage
- Coefficient of Variation (COV): expresses standard deviation as percentage of the
mean
SOLUTIONS RATED A+
✔✔Box Plots - ✔✔Shows the distribution of a CONTINUOUS VARIABLE with a
DISCRETE VARIABLE
Shows OUTLIERS & EXTREMES
✔✔Three-way Comparisons - ✔✔Contingency tables: shows summary statistics for a
dependent variable by combinations of two independent variables; shows average sale
price by neighborhood & construction class
3-D diagrams: show the relationship among three variables graphically
✔✔Contingency Tables - ✔✔Shows average sale price by neighborhood AND
construction class.
Shows statistics for a dependent variable by combinations of two independent variables
(shows 3 variables)
✔✔The listing of data in order of magnitude (either ascending or descending) is termed
a/an _______. - ✔✔array
✔✔The charting of a frequency distribution using a _________ illustrates the extend to
which sales ratios are in a normal (bell-shaped) distribution. - ✔✔histogram
✔✔List five common measures of dispersion - ✔✔1) Range
2) Quartiles
3) Percentiles
4) Standard deviation
5) Coefficient of variation
✔✔___________ show the distribution of values for two binary or discrete variables. -
✔✔Cross-tabulations
✔✔_________ ___________ show the relationship between two quantitative variables
with the dependent variable placed on the vertical axis and the independent variable
placed on the horizontal axis. - ✔✔Scatter diagrams
✔✔A _________ can be used to show several variables simultaneously, or the same
variable for different strata. - ✔✔polygon (line chart)
✔✔___________ compare statistics (usually measures of central tendency) by strata,
for example, average sale price by neighborhood. - ✔✔Breakdowns
, ✔✔__________ ___________ show summary statistics for a dependent variable by
combinations of two independent variables, for example, average sale price per square
foot by construction grade and neighborhood. - ✔✔Contingency tables
✔✔Interpretation of the _________ ____________ as a measure of spread or
dispersion depends on the data being "normally distributed" (approximating a bell-
shaped curve) - ✔✔standard deviation
✔✔The __________ of ____________ expresses the standard deviation as a
percentage of the mean. - ✔✔coefficient of variation
✔✔Cases beyond the whiskers in box plots are __________ and __________. -
✔✔Outliers & extremes
✔✔__________ data can take any value in a given range and is often based on
measurements. _________ data is qualitative items that have three or more predefined
values. __________ data is qualitative items that have only two possibilities
possibilities, for example yes or no. - ✔✔Continuous, discrete, binary
✔✔A good way to show the distribution of qualitative variables is: - ✔✔Crosstabulation
✔✔Market value sales - ✔✔All single-parcels sales that are arm's length & represent
market value
✔✔Market adjustments - ✔✔- Target date for adjustments should be the appraisal date
- Typical adjustment to sales during the sale confirmation process would be a time
adjustment
✔✔Only a chart comparing ______ ________ with ______ ________ can illustrate PRD
- ✔✔assessment level; sale price
✔✔Measures of central tendency (define) - ✔✔Measure the overall level of appraisal
-median, mean, weighted mean
✔✔Measures of dispersion (define) - ✔✔Measure the uniformity or equity of appraisals
-min, max, range
-Coefficient of Dispersion (COD): mostly commonly used measure of appraisal
uniformity; expresses average deviation as a percentage
- Coefficient of Variation (COV): expresses standard deviation as percentage of the
mean
