IAAO 300 EVALUATION EXAM 2026 QUESTIONS AND
SOLUTIONS RATED A+
✔✔Property owners may dispute their value, and this is part of the __________ system.
- ✔✔appeal
✔✔Data quality - ✔✔How accurately recorded information used to estimate values
reflects the current status of the property
✔✔Data quantity - ✔✔Relates to the completeness of the available data or what must
be collected to capture local market influences
✔✔Methods for Evaluating Accuracy - ✔✔1) Field study - samples properties from
different areas & classes; effective for evaluating quality of existing data
2) Ratio study - can help indicate quality of existing data & uniformity
3) Pilot study - involves modeling using data gathered for a test group of parcels & helps
what data is required for good models
✔✔Quantitative Data - ✔✔Based on measurements & counts
Objective & verifiable
ex: # of bathrooms, land area, sf
✔✔Qualitative Data - ✔✔Based on judgements; subjective & difficult to verify
Ordinal variables (convey info about rank; ex: good, average, poor)
Nominal variables (convey nothing about rank or relative worth; ex: ranch, split level,
forced air, hot water, electric)
✔✔Continuous Data - ✔✔Data that can take any value in a range (ex: sf, front feet,
acres, etc.)
✔✔Discrete Data - ✔✔Data that can have 3 or more pre-defined values (ex: topography
- level, rolling, or steep)
✔✔Binary Data - ✔✔Data that indicate presence or absence of a specific feature; only
two possibilities, yes or no.
✔✔Hard edit - ✔✔Designed to catch serious errors & causes info being edited to be
rejected
✔✔Soft edit - ✔✔Designed to catch values that are probably wrong but could be correct
in exceptional circumstances. Results in warnings but not rejection of information.
, ✔✔Consistency (logic) edits - ✔✔For example, it is not logical to have more bathrooms
than total rooms or for the square footage of the basement to be greater than the
square footage of the finished area.
✔✔The three methods of studies required to evaluate data accuracy are __________,
_________, and ___________. - ✔✔Field studies, ratio studies, & pilot studies
✔✔___________ relates to how accurately recorded information used to estimate
values reflects current status of property. - ✔✔Quality
✔✔Qualitative items that have three or more predefined values e.g. (topography: level,
rolling, or steep) area known as ______ data. - ✔✔discrete
✔✔A ________ __________ manual should explain how to collect and code data thus
ensuring greater uniformity among appraisers. - ✔✔data inventory
✔✔A ___________ edit makes certain that the number of bedrooms does not exceed
the total room count or the square footage of the basement is not greater than the
square footage of the finished area. - ✔✔consistency
✔✔__________ data are items where the proper value is a matter of judgement and
more difficult to verify. - ✔✔Subjective
✔✔__________ relates to the completeness of the available data or what must be
collected to capture local market influences. - ✔✔Quantity
✔✔Data collectors should have both _______ and ________ training. - ✔✔classroom &
field
✔✔Array - ✔✔A listing of data in order of magnitude, either ascending or descending
✔✔Frequency Distribution - ✔✔Displayed by a histogram (bar chart); shows the number
of occurrences (most common) data; one variable chart
✔✔Measure of Central Tendency - ✔✔1) Median
2) Mean - most common
3) Mode
✔✔Measure of Dispersion/Spread - ✔✔1) Min, max, range
2) Quartiles
3) Percentiles
4) Standard Deviation - most common; interpretation depends on data being normally
distributed
SOLUTIONS RATED A+
✔✔Property owners may dispute their value, and this is part of the __________ system.
- ✔✔appeal
✔✔Data quality - ✔✔How accurately recorded information used to estimate values
reflects the current status of the property
✔✔Data quantity - ✔✔Relates to the completeness of the available data or what must
be collected to capture local market influences
✔✔Methods for Evaluating Accuracy - ✔✔1) Field study - samples properties from
different areas & classes; effective for evaluating quality of existing data
2) Ratio study - can help indicate quality of existing data & uniformity
3) Pilot study - involves modeling using data gathered for a test group of parcels & helps
what data is required for good models
✔✔Quantitative Data - ✔✔Based on measurements & counts
Objective & verifiable
ex: # of bathrooms, land area, sf
✔✔Qualitative Data - ✔✔Based on judgements; subjective & difficult to verify
Ordinal variables (convey info about rank; ex: good, average, poor)
Nominal variables (convey nothing about rank or relative worth; ex: ranch, split level,
forced air, hot water, electric)
✔✔Continuous Data - ✔✔Data that can take any value in a range (ex: sf, front feet,
acres, etc.)
✔✔Discrete Data - ✔✔Data that can have 3 or more pre-defined values (ex: topography
- level, rolling, or steep)
✔✔Binary Data - ✔✔Data that indicate presence or absence of a specific feature; only
two possibilities, yes or no.
✔✔Hard edit - ✔✔Designed to catch serious errors & causes info being edited to be
rejected
✔✔Soft edit - ✔✔Designed to catch values that are probably wrong but could be correct
in exceptional circumstances. Results in warnings but not rejection of information.
, ✔✔Consistency (logic) edits - ✔✔For example, it is not logical to have more bathrooms
than total rooms or for the square footage of the basement to be greater than the
square footage of the finished area.
✔✔The three methods of studies required to evaluate data accuracy are __________,
_________, and ___________. - ✔✔Field studies, ratio studies, & pilot studies
✔✔___________ relates to how accurately recorded information used to estimate
values reflects current status of property. - ✔✔Quality
✔✔Qualitative items that have three or more predefined values e.g. (topography: level,
rolling, or steep) area known as ______ data. - ✔✔discrete
✔✔A ________ __________ manual should explain how to collect and code data thus
ensuring greater uniformity among appraisers. - ✔✔data inventory
✔✔A ___________ edit makes certain that the number of bedrooms does not exceed
the total room count or the square footage of the basement is not greater than the
square footage of the finished area. - ✔✔consistency
✔✔__________ data are items where the proper value is a matter of judgement and
more difficult to verify. - ✔✔Subjective
✔✔__________ relates to the completeness of the available data or what must be
collected to capture local market influences. - ✔✔Quantity
✔✔Data collectors should have both _______ and ________ training. - ✔✔classroom &
field
✔✔Array - ✔✔A listing of data in order of magnitude, either ascending or descending
✔✔Frequency Distribution - ✔✔Displayed by a histogram (bar chart); shows the number
of occurrences (most common) data; one variable chart
✔✔Measure of Central Tendency - ✔✔1) Median
2) Mean - most common
3) Mode
✔✔Measure of Dispersion/Spread - ✔✔1) Min, max, range
2) Quartiles
3) Percentiles
4) Standard Deviation - most common; interpretation depends on data being normally
distributed
